Warner Music Group Corp. Stock Price, News & Analysis

Warner Music Group Corp. (WMG) announced a quarterly cash dividend of $0.15 per share on its Class A and Class B Common Stock, totaling approximately $77.2 million. The dividend is set to be paid on September 1, 2021, to shareholders on record by the close of business on August 25, 2021. This declaration reflects WMG's ongoing commitment to returning value to its shareholders while maintaining its legacy as a leading music company.

Warner Music Group Corp. (WMG) has initiated a private offering of euro-denominated senior secured notes through its subsidiary, WMG Acquisition Corp. The proceeds will be used to fund the redemption of 3.625% senior secured notes due 2026, called for redemption on August 16, 2021. The offering is exempt from the Securities Act registration requirements and is aimed at qualified institutional buyers and certain persons outside the U.S. This announcement includes forward-looking statements and is subject to various risks and uncertainties.

Warner Music Group reported strong fiscal results for Q3 2021, with total revenue increasing by 33% to $1.34 billion. Notable growth in recorded music revenue, which rose 34% to $1.15 billion, was supported by a 27% rise in streaming revenue. The company achieved a net income of $61 million, a significant turnaround from a $519 million loss in the same period last year. Adjusted OIBDA grew 58% to $263 million. Despite ongoing challenges from the pandemic, notable increases were observed in both physical and digital sectors.

Warner Music Group (WMG) will announce its financial results for the third quarter ended June 30, 2021, on August 3, 2021. The earnings conference call will take place at 8:30 a.m. ET, where investors can dial in or join via a webcast. The call will be replayable until September 2, 2021. WMG operates globally in over 70 countries and encompasses renowned labels and a substantial music publishing catalog. This upcoming report will provide insights into WMG's financial health, which is critical for investors.

Warner Music Group Corp. (WMG) has elected Nancy Dubuc to its board of directors, where she will also serve as chairperson of the Audit Committee. This change is effective immediately. Dubuc, currently CEO of VICE Media Group, brings extensive experience in digital media, enhancing WMG's strategic direction. Former board member Thomas H. Lee steps down after over 17 years but is honored with the title of Director Emeritus for his contributions. This transition indicates a focus on innovation and growth for WMG in the evolving music industry landscape.

Warner Music Group (WMG) announced that its Chief Financial Officer, Eric Levin, will participate in a Q&A session at the Credit Suisse 23rd Annual Communications Conference on June 14, 2021, at 9:30 a.m. ET. A live webcast of the session will be accessible to the public via the Investor Relations section of WMG's website. Additionally, a replay of the discussion will be available in the Past Events section after the event.

WMG encompasses a diverse array of iconic labels and companies, showcasing its strong global cultural influence.

Warner Music Group (WMG) has announced a quarterly cash dividend of $0.12 per share on its Class A and B Common Stock, amounting to approximately $61.7 million. This dividend is payable on June 1, 2021, to stockholders on record as of May 24, 2021. The announcement reflects WMG's commitment to returning value to shareholders as it continues its legacy of over 200 years in the music industry, housing iconic labels and a vast catalog of copyrights.

Warner Music Group reported a strong second-quarter performance for the period ending March 31, 2021, achieving 17% revenue growth year-over-year, totaling $1.25 billion. Key drivers included a 20% increase in recorded music streaming revenue and a 23% rise in digital revenue. The net income turned positive at $117 million, compared to a loss of $74 million in the prior year. Adjusted EBITDA grew 25% to $268 million. The results reflect strong operational performance and cost management amidst ongoing pandemic challenges.

Warner Music Group (WMG) has announced a partnership with Wave, a leader in virtual entertainment, to expand virtual performances and monetization opportunities for its artists. The collaboration will introduce innovations in ticketing, sponsorship, and fan engagement. WMG aims to enhance the virtual experience for artists and fans across its labels. Wave's technology will transform artists into digital avatars for live performances, offering interactive features like live chats and virtual gifting. This partnership aligns with WMG's strategy to capitalize on the growing metaverse market.