Warner Music Group Corp. - WMG STOCK NEWS

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.

Warner Music Group (WMG) has partnered with Genies, a leading avatar technology company, to create digital wearables NFTs for WMG artists. This collaboration allows artists to sell unique virtual items, enhancing fan engagement and revenue opportunities. Genies has launched a new SDK enabling artists to produce limited edition digital wearables tied to key moments in their careers. The partnership extends WMG's focus on innovative digital solutions for its artists while tapping into the growing metaverse and blockchain ecosystem through Genies’ integration with Dapper Labs.

Warner Music Group Corp. will publish its financial results for Q2 2021 on May 4, 2021, covering the period ending March 31, 2021. The earnings update conference call is scheduled for 8:30 a.m. ET. Investors can participate by calling (833) 646-0491 or (918) 922-6618, using the passcode 'Warner Music.' A webcast option is also available at www.wmg.com. For those unable to attend live, a replay will be accessible until June 3, 2021.

Warner Music Group Corp. (WMG) announced that CEO Steve Cooper will participate in a Q&A session at the Morgan Stanley Technology, Media and Telecom Conference on March 4, 2021, at 12:30 p.m. ET. A live webcast will be accessible to the public via Warner's Investor Relations homepage. A replay will be available afterward in the Past Events section. Warner Music Group has a rich legacy and an extensive catalog featuring iconic labels and music publishing.

Warner Music Group Corp. declared a quarterly cash dividend of $0.12 per share on its Class A and Class B Common Stock, amounting to approximately $61.7 million total for the quarter. This dividend is scheduled for payment on March 1, 2021, to stockholders recorded by the close of business on February 22, 2021. The announcement reflects WMG’s commitment to returning capital to shareholders while emphasizing its strong market position in the music industry.

Warner Music Group Corp. reported its highest quarterly revenue as a standalone company, with a 6% increase to $1.335 billion for Q1 FY2021, despite COVID challenges. Digital revenue surged 17% to $825 million, representing 61.8% of total revenue. Operating income rose 19% to $196 million, while OIBDA increased 13% to $267 million. However, net income decreased 19% to $99 million, primarily due to unfavorable exchange rates and higher taxes. The company remains positive about long-term growth, bolstered by streaming revenue and direct-to-consumer strategies.

Warner Music Group Corp. will announce its financial results for Q1 ended December 31, 2020, on February 1, 2021. An earnings update conference call will take place at 4:30 p.m. ET the same day. Investors can join the call by dialing (833) 646-0491 or (918) 922-6618, using the passcode 'Warner Music.' A replay will be accessible until March 3, 2021. WMG operates in over 70 countries, with a vast catalog through its Recorded Music and Music Publishing divisions.

Warner Music Group reported Q4 and full-year results for the period ending September 30, 2020. Total revenue for Q4 rose by 0.2% to $1.126 billion, driven by a 15% increase in digital revenue, which now constitutes 65% of total revenue. However, the company faced a net loss of $470 million for the year compared to a net income of $258 million in the prior year. Operating income increased significantly by 203% year-over-year to $88 million in Q4. Adjusted OIBDA and EBITDA both saw notable growth, highlighting ongoing momentum in streaming despite challenges posed by COVID-19.

Warner Music Group Corp. (WMG) is set to release its financial results for the fourth quarter and fiscal year ended September 30, 2020, on November 23, 2020. An earnings update conference call will take place at 8:30 a.m. ET on the same day. Investors can dial (833) 646-0491 or (918) 922-6618 to participate, with an option to join via webcast. The call will be available for replay until December 23, 2020. WMG continues to operate across more than 70 countries, overseeing a vast catalog of musical compositions and renowned labels.