warner music group
All Music Industry Initiatives to Help Get Out the Vote This Election Season (Updating)
On Nov. 3, U.S. voters will decide if President Donald Trump gets four more years in office or send Democratic ticket Joe Biden and Kamala Harris to the White House. Ahead of what has been said to be the most important election in at least a generation, non-partisan voter registration organizations including HeadCount and Voto Latino, in partnership with labels and artists, have launched music-driven initiatives that incentivize eligible voters – especially young ones – to get registered and vote. Even labels and digital streaming platforms have rolled out campaigns to encourage both employees and artists to vote this election. And venues across the country will serve as polling sites for early voting and on Election Day. From Spotify’s “Play Your Part” to HeadCount’...
Warner Music CEO Stephen Cooper Discusses the ‘New Era in Music Entertainment’
“Music has gone way beyond singles, albums and videos,” he said during Goldman Sachs’ Communacopia conference, touching on TikTok, gaming, streaming expansion and more. Warner Music Group (WMG) CEO Stephen Cooper discussed the now publicly-traded company’s streaming-fueled growth and future outlook during Goldman Sachs’ virtual Communacopia conference Thursday, envisioning that music’s continued application to social media, fitness, TV and film and other businesses will ring in a “new era in music entertainment.” “Music has gone way beyond singles, albums and videos,” he said. “Subscription streaming is just the beginning.” Specifically, the executive pointed to Peloton, TikTok and video games (including in-game p...
Executive Turntable: WMG Names Head of Investor Relations, FUGA Makes Key Leadership Hires
Warner Music Group has hired Kareem Chin as senior vp head of investor relations effective immediately. Chin arrives at WMG from iHeartMedia, where he served in the same role. Chin, whose appointment follows WMG’s recent IPO, will lead the company’s investor relations efforts and work closely with the company’s finance and corporate communications teams. He will also oversee key events, including quarterly earnings calls and attendance at investor conferences. At iHeartMedia, which he joined as it was emerging from bankruptcy, Chin developed and built out the company’s investor relations function as it explored listing options and later made its debut on the Nasdaq exchange. Prior to that, he was vp investor relations at Viacom, a role that followed over a decade in investment banking. Mus...
Here is What the UK’s Largest Music Companies are Paying Women Compared to Men
According to a report published in Music Business Worldwide, there was a sizable wage gap between men and women in some of the largest music companies in the UK this year. In the UK, companies with over 250 employees are legally required to report their gender pay gap stats by April 4th of each year, a mandate that has been in effect since 2017. However, after reporting deadlines were interrupted by the impact of COVID-19, many UK companies were not required to file their gender pay gap stats. Two of the three largest major music companies in the UK, Sony and Warner, did file their reports, though, in addition to a litany of others, including streaming behemoth Spotify. As of April 5th, 2019, the average gender pay gap at Sony Music UK was 26.0%, and 31.5% at Warner Music UK. Spotify UK re...
Warner Music Group Moves to Replace Old Debt With New, Better Debt
The music company is conducting a private offering to purchase senior notes due in 2023 with funds from sales of senior notes at a better interest rate due seven years later. Warner Music Group is trading old debt for new debt with a better interest rate and later due date. The music company is conducting a private offering for $535 million of senior secured notes due in 2030 that it expects to close June 29, it was announced Tuesday (June 16). At the same time, Warner wants to use the proceeds to purchase $300 million of new senior secured notes due in 2023. If Warner sells $535 million notes due in 2030 to redeem $300 million of notes due in 2023, it would replace a 5% interest rate with 3.875%. On $300 million of principal, the difference in rates of 1.125% equals $3.375 million of inte...
