Warner Music Group Tops $1.25 Billion for the Quarter as Streaming Jumps 17%

Soundgarden's attorneys have accused Universal Music Group of "improper discovery gamesmanship" after being told that only 19 artists -- including Nirvana, Beck, R.E.M, Sheryl Crow, Bryan Adams and Elton John among others -- had masters destroyed or damaged in the fire.

On Feb. 6, in a move that took both Wall Street and the music business by surprise, Warner Music Group filed plans to make a public stock offering underwritten by Morgan Stanley, Credit Suisse and Goldman Sachs. The news came just over a month after WMG competitor Universal Music Group (UMG) finalized plans to sell 10% of its equity to a group led by Tencent Holdings, in a deal that valued the music company at $33.6 billion. WMG

Vivendi saw its annual revenues jump by 14% to €15.8 billion ($17 billion) in 2019, driven once again by the performance of Universal Music Group which had a record year, and to a lesser extent by Canal Plus Group.

The Universal Music Group's revenues passed $7.7 billion (7.16 billion euros) in 2019, up 14 percent at constant currency thanks to another strong surge in streaming revenue, which was up 21.5 percent year over year.Recorded music revenues were up 11.6 percent year over year, while the publishing division's revenues increased 9.2 percent, both at constant currency.That represents another strong year for the world's biggest record company, which finished 2019 by completing the sale of 10

The Universal Music Group's revenues passed $7.7 billion (€7.16 billion euros) in 2019, up 14% at constant currency and perimeter thanks to another strong surge in streaming revenue, which was up over 20% year over year.Recorded music revenues accounted for $6.11 billion (€5.6 billion) of UMG's total take, up 11.6% year over year, while the publishing division's revenues topped a billion -- $1.14 billion (€1.052 billion) -- an increase of 9.2%, both at constant currency and perimeter.That

Buried in Vivendi’s earnings report released today is the blockbuster news that its subsidiary Universal Music Group is planning an IPO within the next three years. Vivendi recently sold 10% of UMG to a consortium led by Tencent Holdings Ltd for $3.3  billion, a sum that values the company at a whopping $33 billion.

Lenny Tavarez (born Julio Manuel González Tavárez) has signed an exclusive record deal with Warner Music Latina, Billboard can exclusively reveal. The signing comes on the heels of his just-released collaborative single with Justin Quiles, “La Pared 360." 

Warner Music Group executive Jeff Bronikowski has joined Apple Music, the streaming service has confirmed to Billboard.

With Warner Music Group's announcement Thursday of plans to go public with an upcoming IPO, now begins a waiting game to see how much of the company will be sold and how the shares will be priced, determining the company's overall valuation.

After 37 years in leadership positions at the Capitol Christian Music Group and its predecessor companies, chairman/CEO Peter York has set a retirement date of March 31.

With Warner Music Group's announcement Thursday of plans to go public with an upcoming IPO, now begins a waiting game to see how much of the company will be sold and how the shares will be priced, determining the company's overall valuation.

The company last went public in 2011

Warner Music Group on Thursday announced that it has submitted paperwork to begin an initial public offering of its common stock.The number of shares of common stock to be offered and the price range for the proposed offering have not yet been determined. Morgan Stanley, Credit Suisse and Goldman Sachs & Co.

Warner Music Group announced on Thursday (Feb. 6) that it has submitted paperwork to begin an initial public offering of its common stock.

Warner Music Group today announced that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission for a proposed initial public offering of its common stock.  According to the announcement, the shares of common stock to be sold in this offering are proposed to be sold by certain of Warner Music Group’s stockholders.  The number of shares of common stock to be offered and the price range for the proposed offering have not yet been determined.

After 50 years in the music industry, Capitol Christian Music Group chairman & CEO Peter York will retire in 2020. The longtime music executive will retire from his current role at CCMG on March 31, the label announced on Thursday.

Warner Music Group continues to improve its margins and profitability in its fiscal first quarter of the year, a quarter that the company said was the highest in its history as a stand-alone company, which began in 2004 when Time Warner sold off WMG to a private equity consortium which in turn sold the company in 2011 to Len Blavatnik's Access Industries. 

By Anthony D'Alessandro

AEG Presents has promoted Fredrick “Cody” Lauzier to senior vp, global touring and talent, the company’s president of global touring and talent Gary Gersh announced Wednesday (Jan. 29).

Warner Music Group posted another strong quarter in the fiscal Q1 of 2020, with revenue of $1.26 billion, a 4% jump year over year, led by a 17% surge in streaming revenue. The company’s net income also climbed 40% from $86 million a year ago to $122 million in the quarter ending Dec. 31.