warner music group
Warner Music Gets Upgrade From S&P on Strength of Streaming
Because of these and other factors, S&P lowered its risk assessment for WMG from fair to satisfactory and raised its credit rating from BB to BB+. BB is speculative grade, a notch below investment grade, meaning the company is “less vulnerable in the near-term but faces major ongoing uncertainties to adverse business, financial and economic conditions.” WMG’s share price rose 4.4% to $36.85 on Tuesday, valuing the company at $21.4 billion. Some of Tuesday’s gain can be attributed to the markets’ rebound from Monday’s pessimism about the surge in COVID-19 infections: the Nasdaq and Dow each rose 1.6%. After WMG’s May 2020 IPO, its share price peaked at $39.61 on Feb. 2, 2021. Even as music rights acquisitions remain a hot market with increased competition and companies paying higher mul...
Warner Music Group Elects Nancy Dubuc to Board of Directors; Thomas Lee Stepping Down
“Nancy is an exceptional addition to the board,” said Len Blavatnik, vice chairman of the WMG board and founder and chairman of Access Industries. “Her experience in visual and digital media, combined with her knowledge of youth culture and the entertainment market, make her well suited to help guide WMG’s growth. I would also like to thank Tom for his many years of valuable service on the board, and I’m pleased that we’ll be able to call on his expertise in the future.” Added Dubuc, “Music now lives in many different forms, across cultures, technologies, and media. Warner’s dynamic, global approach to creativity and commerce, along with the powerful value proposition it offers artists and songwriters, make it a truly progressive and exciting company. I’m looking forward to working with ev...
David Guetta Taps MistaJam and John Newman for Whitney Houston Tribute, “If You Really Love Me (How Will I Know)”
Full of infectious 80s synths and feel good energy, Whitney Houston‘s 1985 hit “How Will I Know” will be forever remembered as one of the legendary artist’s most beloved songs. Now, it’s received an electronic update with a new reimagining from David Guetta, MistaJam and John Newman. Released July 2nd via Warner Records, “If You Really Love Me (How Will I Know)” is the best of both worlds, weaving together cuts of Houston’s original lyrics with an upbeat blend of dance-pop and tropical house. Echoing across its bright, piano-based soundscape are soulful vocals from Newman, who is known for his work with Calvin Harris, Rudimental, Galantis and Kygo. “I’ve had the idea to remake this classic Whitney tune for so long,&...
David Guetta’s Net Worth Skyrockets Past $150 Million Following Sale of Music Catalog
David Guetta made major headlines this week with the acquisition of his recorded music catalog by Warner Music. Industry sources estimate the sale came out to more than $100 million, translating to a skyrocketing of the artist’s net worth. Previously estimated to be around $75 million, his accumulated assets have now doubled in valuation to more than $150 million, Digital Music News reports. To put that into perspective, the net worth of Skrillex sits around $50 million, Steve Aoki at $95 million, and Daft Punk at $140 million, with Calvin Harris coming in on top at an estimated $300 million, according to Wealthy Gorilla. David Guerin Bask While signing away the rights of his catalog to Warner will decrease his earnings in song royalties, Guetta will still ...
Warner Announces Vinyl Soundtrack Series with The Dark Knight, Space Jam, Goodfellas
The summer blockbuster is back and it’s headed for your record player. Warner Music Group has just announced a vinyl soundtrack series that will see the company reissuing some of its most popular compilations, including the soundtracks to the original Space Jam, Christopher Nolan’s The Dark Knight, Quentin Tarantino’s Inglourious Basterds, and Martin Scorsese’s Goodfellas. “The soundtrack series is a potent reminder of how integral music is to storytelling in films,” the company said in a press release. “Whether it’s an entire score by Alice Cooper in Welcome to My Nightmare or The Rolling Stones’ ‘Monkey Man’ blasting during the frenetic helicopter scene in Martin Scorsese’s Goodfellas, certain songs are forever linked to specific movie moments.” WMG’s new series will showcase i...
Warner Music Acquires David Guetta’s Recorded Music Catalog for Nearly $100 Million
When David Guetta in 2010 penned his timeless lyric, “Those will be the best memories,” little did he know those memories would fetch nearly $100 million. Warner Music has has acquired the rights to the dance music luminary’s recorded music catalog, which contains global hits “Hey Mama,” “Titanium,” and “Turn Me On,” among many others. The pact sees the music giant acquiring Guetta’s worldwide catalog from the last two decades and inking a new deal for future recordings. While the exact sum of the pact has not been publicly confirmed, the Financial Times reports that Warner spent over $100 million. Variety, on the other hand, spoke to two industry sources who asserted that the figure is in the “dozens of millions.”...
David Guetta, Akon and Master KG Collide on Hopeful Summer Anthem “Shine Your Light”
Earlier this week on World Africa Day, Master KG, David Guetta, and Akon announced a mega-collaboration. Today, their new single “Shine Your Light” has arrived via Warner Music France. Each of the three artists involved have proven to be elite hitmakers throughout their careers and “Shine Your Light” is yet another notch on their illustrious belts, serving as a beautiful fusion of each of their well-defined sounds. Akon’s unmistakable vocal croons combine effortlessly with the afro-house beat for a breezy summertime anthem. Find “Shine Your Light” on all streaming platforms here and listen to the track below. FOLLOW MASTER KG: Facebook: facebook.com/masterkgsaTwitter: twitter.com/MasterKGsaInstagram: instagram.com/masterkgsaSp...
Warner Music Launches Whet Records, a Pan-Asian Dance Music Label
Warner Music Group is expanding its footprint in Asia with a new pan-Asian record label focusing specifically on dance music. Over time, dance music has ballooned in popularity throughout Asia, attracting the world’s largest festival brands to the region in the process, including Ultra, EDC, and Creamfields. With a new generation of inspired artists taking flight, Warner Music Group hopes to accelerate their journey through Whet Records. The label’s new China division head Zoe Yang previously worked for Ultra Music China and EDC China, both of which arrived in the country less than four years ago. She is joined by Jonathan Serbin, who was previously the CEO of Mixmag Asia, and a producer who has worked on several electronic projects featuring collaborations between Asian a...
Mysterious Artist LŪN Drops Fiery Debut Single, “bitches”: Listen
There is a new mysterious artist on the scene and she goes by the name LŪN. While her identity remains a mystery, we can get to know her through her debut single “bitches,” a fiery electronic tune arriving by way of Fueled By Ramen. “bitches” opens with hypnotic pads, which slowly engulf listeners as they slither through the arrangement. The angelic soundscapes ebb and flow as the intensity builds before a ticking clock leads you into a siren song, which culminates in a manic midtempo drop. There’s only one lyric uttered throughout the entirety of the track—you can surely guess what it is—but its delivery and timing pack a powerful punch. “There is a lot of cause for yelling these days and everyone does it, on social media, in the news, at eac...
David Guetta, Kid Cudi Release New Remix of 2011 Smash Single, “Memories”
2011: the year of Beyoncé‘s first baby announcement, “honey badger don’t care,” the launch of Game of Thrones and The Walking Dead and, of course, the release of David Guetta and Kid Cudi s “Memories.” While these iconic events have come and gone, “Memories” is back to see another day via a new remix from Guetta himself. Released January 8th via Warner Music, this 2021 reimagination reinvigorates the decade-old original with classic dance energy, updating its driving piano melody with a pulsing four-on-the-floor beat and buoyant club drop. Living in infamy in its premiere form, the track’s new remix perfectly matches its party atmosphere as Cudi’s husky tone paints a timely picture of the n...
Roblox Raises $520M From Warner Music Group and Others
Warner Music Group has been focused on growing its footprint in gaming for some time. “Ultimately, everything is going toward gaming, and we want to make sure we’re capturing value within it. It’s the future of entertainment,” Oana Ruxandra, Warner Music Group’s chief digital officer, told Billboard last September. The music industry has certainly been flocking toward gaming platforms over the past year, with Travis Scott pulling in 27.7 million participants during his Fortnite in-game performance last April, kicking off a wave of artists looking to set up virtual concerts on similar platforms. Roblox launched its first virtual concert in November, with a virtual concert by Lil Nas X that racked up 33 million views. “COVID has supercharged the demand for 2D and 3D live streaming even...
