Warner Music Group Corp. Stock Price, News & Analysis

Warner Music Group has acquired the recorded music rights to YES' complete Atlantic Records catalog, reinforcing their long-standing partnership. The acquisition includes landmark albums such as Fragile and 90125, totaling 12 studio albums, live recordings, and compilations. YES, a rock band renowned for over 30 million albums sold worldwide, continues to influence music culture since their debut in 1969. This deal ensures their iconic music is curated for both existing fans and new audiences. The acquisition, announced on January 23, 2023, marks a significant milestone for both parties.

Warner Music Group (WMG) is set to announce its financial results for the first quarter ended December 31, 2022, on February 9, 2023. The company will conduct an earnings conference call at 8:30 a.m. ET on the same day. Investors can register for the call through WMG's website and will receive a personalized PIN for access. The conference call will also be available via webcast, offering a replay option post-event. With a rich history of over 200 years, WMG connects artists and songwriters globally, operating in more than 70 countries with a vast catalog of music copyrights.

Warner Music Group (WMG) has partnered with digital fashion retailer DRESSX to create a unique platform for artists to design virtual clothing lines. This collaboration aims to enhance fan engagement by offering digital fashion items across social media platforms like Instagram and Snapchat. The partnership enables artists to develop new revenue streams while promoting sustainable fashion, leveraging DRESSX's expertise in the digital clothing space. DRESSX, launched in August 2020, is committed to carbon neutrality and sustainability in digital fashion.

WMX Pop, WMX Rock, and WMX Hip-Hop have launched exclusively on The Roku Channel, a free ad-supported streaming service reaching approximately 80 million users. The channels feature music videos, concerts, and original programming from Warner Music's extensive catalog, allowing fans to engage with music content tailored to their interests. New series like Iconic Records: Life After Death will also premiere, spotlighting iconic albums. WMX's partnership with Roku aims to enhance audience reach in the rapidly growing FAST channel space.

Warner Music Group reported robust financial results for Q4 and FY 2022, with total revenue rising 9% to $1,497 million in the quarter and 12% to $5,919 million for the year. Adjusted OIBDA increased 22% to $265 million in Q4 and 13% to $1,149 million for the year. Digital revenue grew 7% in Q4 and 9% for the year, while net income surged 81% to $555 million. The company highlighted strong performance across music publishing and recorded music, buoyed by increased global subscriber growth and strategic partnerships. Operating cash flow also exceeded expectations, rising 78% to $406 million.

Warner Music Group (WMG) has declared a regular quarterly cash dividend of $0.16 per share on its Class A and Class B Common Stock, totaling approximately $82.4 million. This dividend is scheduled to be paid on December 1, 2022, to shareholders recorded by November 22, 2022. The announcement supports WMG's commitment to returning value to its shareholders amidst its diverse portfolio of iconic music labels and its legacy in the industry.

Warner Music Group Corp. (WMG) is set to announce its financial results for the fourth quarter and fiscal year ending September 30, 2022, on November 22, 2022. An earnings conference call will be held at 8:30 a.m. ET the same day. Interested parties can register for the call via the provided link. WMG operates in over 70 countries and encompasses various renowned labels and a rich catalog of over one million copyrights. Its divisions include music publishing and services aimed at artist support and cultural engagement.

Warner Music Group Corp. (Nasdaq: WMG) has appointed Robert Kyncl as the new CEO, effective January 1, 2023. Kyncl, previously at YouTube, will co-lead with outgoing CEO Steve Cooper for January 2023 before taking full control. During Cooper's tenure since 2011, WMG expanded globally, became a leader in streaming revenue, and diversified income sources. The transition is expected to enhance WMG's innovation and growth trajectory in the music industry.