Warner Music GroupNASDAQ: WMG

Financial Highlights Full-Year Results Reflect Healthy Performance Across Recorded Music and Music Publishing Continued Strong Growth in Subscription Streaming Underpinned by Healthy Macro Trends Music Publishing Achieves its Fourth Consecutive Year of Double-Digit Revenue Growth Delivered Operating Cash Flow Conversion of 53 % in line with Guidance For the three months ended September 30, 2024 Total revenue increased 3% (the same in constant currency) Digital revenue was flat compared to prior-year quarter Net income was $48 million versus $154 million in prior-year quarter Adjusted OIBDA increased 11% to $353 million versus $317 million in prior-year quarter (the same in constant currency) Cash provided by operating activities decreased 10% to $304 million from $338 million in prior-year quarter For the twelve months ended September 30, 2024 Total revenue increased 6% , or 7% in constant currency Digital revenue increased 7% , or 8% in constant currency Net income was $478 million versus $439 million in prior year Adjusted OIBDA increased 16% to $1,432 million versus $1,235 million in prior year (the same in constant currency) Cash provided by operating activities increased 10% to $754 million from $687 million in prior year NEW YORK, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Warner Music Group Corp. today announced its fourth-quarter and full-year financial results for the periods ended September 30, 2024. "Our performance this quarter and this year demonstrated our strength and adaptability in a thriving, fast-moving market," said Robert Kyncl, CEO, Warner Music Group.

BofA Securities analyst Jessica Reif Ehrlich downgraded Warner Music Group Corp WMG from Neutral to Underperform and lowered the price target from $33 to $30.

Focus on cultural impact and creative expertise New leadership empowered at Atlantic, 300 Entertainment, and 10K Projects Key moves include promotions of Lanre Gaba and Erica Bellarosa, appointment of Dave Rocco, and elevation of Craig Kallman NEW YORK , Sept. 23, 2024 /PRNewswire/ -- Today, Atlantic Music Group (AMG), part of Warner Music Group (Nasdaq: WMG), unveiled its dynamic new leadership team and structure.

Warner Music Group (WMG) said it is going to expand its planned layoffs as part of an updated restructuring plan aimed at freeing up cash to boost its core music operations.

In February, Warner Music, home to artists such as Dua Lipa and Teddy Swims, said that it would cut 600 employees - about 10% of its workforce.

NEW YORK, Aug. 15, 2024 (GLOBE NEWSWIRE) -- Warner Music Group Corp. (“Warner Music Group” or “WMG”) today announced that its Board of Directors declared a regular quarterly cash dividend of $0.18 per share on WMG's Class A Common Stock and Class B Common Stock. The dividend is payable on September 4, 2024, to stockholders of record as of the close of business on August 27, 2024.

Warner Music Group NASDAQ: WMG is in the communication services sector and is one of the “Big 3” companies in the music recording and publishing industry, including Sony Music Group and Universal Music Group OTCMKTS: UMGNF.

Shares in Warner Music Group Corp. were ahead 4% in premarket trading after the label's earnings matched market expectations and it reiterated guidance for the year.

After Two Highly Successful Decades at WMG, Max Lousada Announces Decision to Step Down at End of Fiscal Year Creative Regional Leadership to Be Elevated Through Flatter Structure; Greater Impact Through Globalized Services Elliot Grainge Becomes CEO of Atlantic Music Group at Beginning of Fiscal Year 2025; Julie Greenwald to Take New Role as Chairman of Atlantic Music Group NEW YORK ,  August 1, 2024 /PRNewswire/ -- Warner Music Group (Nasdaq: WMG) today unveiled a dynamic new structure for its Recorded Music operations, designed to strengthen services to artists at every stage of their careers, create more direct channels between local expertise and global opportunities, and position the company for long-term growth. As part of this reorganization, Max Lousada , CEO, Recorded Music, has decided to step down at the end of the fiscal year (September 30), after eight highly successful years in the role, and 20 years at WMG.