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Streaming Grew Profits For Warner Music Group In 2017
Warner Music Group Corp. today announced its fourth-quarter, reporting growth in revenue, as well as, a net loss. “We’ve now had five consecutive years of global revenue growth in constant currency, and the last two were up double digits,” said Steve Cooper, WMG CEO. “Our momentum reflects the tremendous talent and appeal of our artists and ...
New Spotify, Apple Music, Hulu and Label Deals Mean Musicians Will Be Paid Less
New deals between the major labels and the streaming music services, alongside the introduction of deeply discounted streaming bundles, may eventually move more mainstream consumers from free users to paying customers. But the short and medium effect is less money for many artists and perhaps the labels that signed these agreements. The major labels have a ...
WMG Reports Strong Q3 Driven By Streaming Revenue
Warner Music Group Corp. today announced third quarter financial results for the period ending June 30, 2017. It was WMG's strongest quarter in years. Net income was $143 million, compared to a $7 million loss in the prior-year quarter. Total revenue grew 13.1% or was up 15.5% in constant currency. Digital revenue grew 30.2% or was up ...
Warner Music Group Acquires Songkick Concert Discovery App
Warner Music Group has acquired “selected assets" from Songkick, the popular live music discovery platform. The surprise deal, which appears motivated by the startups protracted legal battle with Ticketmaster, includes Songkick's concert discovery app and web site, but not its ticketing business. Warner Music Group has acquired selected assets from Songkick, a live music discovery platform ...
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