Warner Music Group (US)
Warner Music is the world's #3 music group, with labels including Atlantic, Elektra, Sire and now Parlophone. It has a reputation as a pioneer in the marketing of digital music. Previously part of the mammoth Time Warner media behemoth, Warner Music began investigating ways of strengthening itself in the face of falling record sales in 2000. That year, the group made efforts to outmanoeuvre its rivals by agreeing to merge with UK competitor EMI, but the deal was vetoed by EC regulators. As the state of the industry worsened over the following years, talks started with Bertelsmann's BMG and again with EMI in 2003. In the end, however, Warner went independent, after Time Warner agreed to sell it to a consortium headed by former Seagram boss Edgar Bronfman. Merger talks with EMI reopened once more in 2006 but again failed to get anywhere. In a surprise change of strategy, the group put itself up for sale in 2011 and was acquired by billionaire Len Blavatnik for $3.3bn. In 2013, the group won the auction for a collection of former EMI assets in Europe including the Parlophone and Chrysalis labels.
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Recent stories from Adbrands Weekly Update:
Adbrands Weekly Update 17th Dec 2015: The same media streaming revolution which prompted the rise of Netflix continues to reshape the far more volatile music industry, which has undergone a never-ending series of revolutions over the past decade. Warner Music, smallest of the big three music groups, reported results for the year ending Sept 2015 and disclosed that streaming will soon be its biggest revenue source. CEO Stephen Cooper said "2015 was our first fiscal year in which our recorded music streaming revenue exceeded download revenue, and it did so by a significant amount." Yet that has done little to boost performance, since much of the streaming market is still - for the time being at least - offered for free. Warner Music revenues slipped 2% to $2.97bn, though net losses narrowed from $303m in the preceding year to $88m. Digital accounted for 44% of global revenues, but almost 59% in the US.
Subscribers may access the following website links:
Warner Music Group website
Warner Music International
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