Warner Music Posts Strong Quarter, With Streaming Surging 17%

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

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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.

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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.

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. 

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In the second quarter since all of Sony Music’s operations were united under CEO Rob Stringer, the company showed strong earnings, ending the calendar year with streaming revenues up 21% and overall revenue up 7.5% to $1.99 billion. Its profits for the quarter reached $333 million.

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Warner Music Group just keeps chugging along, generating revenue of $1.256 billion during its first fiscal quarter, a 4% improvement on the corresponding period in the previous year. WMG also saw its net income jump 40%, from $86 million a year ago to $122 million in the quarter ending Dec.