Warner Music Group's revenues increased 7% to $1.49 billion in Q1 2024 - Creative Industries News
SUBSCRIBE FOR FULL CONTENT ACCESS: VIEW OFFERS
Connect with us

Creative Industries

Warner Music Group’s revenues increased 7% to $1.49 billion in Q1 2024

Published

4 weeks ago

on

Warner Music Group Corp. posted revenues of $1.49 billion for the first quarter of 2024 ending March 31, 2024, up 7% compared to the same period a year prior. Net income was $96m versus $37m in the prior-year quarter, while operating income decreased 4% to $119m versus $124m year-on-year.

Both Recorded Music and Music Publishing benefited from an acceleration in subscription streaming revenue. "Revenue increases in the quarter were also driven by growth in Recorded Music licensing revenue an...

A paid subscription is required to read more.
Log in below, or UPGRADE / SUBSCRIBE.

Related Topics:

Emmanuel is a Washington, DC-based freelance journalist, blogger and media consultant, specialising in the entertainment business and cultural trends. He was the US editor for British music industry trade publication Music Week. Previously, he was the editor of Impact, a magazine for the music publishing community (2007-2009), the global editor of US trade publication Billboard (2003-2006), and the editor in chief of Billboard’s sister publication Music & Media (1997-2003).

Continue Reading

Copyright & Regulation

European Commission and European Investment Fund allocate €141 million in new financing facilities for creative sectors

Published

1 day ago

on

June 2, 2024

By

The European Commission and the European Investment Fund (EIF) have extended their support to Europe’s cultural creative businesses and audiovisual sector by allocating €141 million of new financing through the EIF via intermediaries from France, Germany, and Finland.

These new agreements are supported by the InvestEU programme, which aims to trigger more than €372bn in additional investments over the period 2021-2027. The financing will come through loan guarantee agreements signed with Fra...

A paid subscription is required to read more.
Log in below, or UPGRADE / SUBSCRIBE.

Continue Reading

Creative Industries

Position Music signs Alex Fernandez to a worldwide publishing agreement

Published

4 days ago

on

May 30, 2024

By

Producer and songwriter Alex “A-Bomb” Fernandez has signed a global publishing deal with Position Music.

Hailing from Puerto Rico and Miami, Fernandez is better known as a member of the producing duo CASHÆ, which he formed in 2016, alongside Joseph Barrios. He has collaborated across genres such as Latin, hip-hop, pop, K-pop, and dance.

“From the moment I met with Mark [Chipello, Partner and Head of A&R at Position Music] and Delmar [Powell, VP of A&R at Position Music] in Mia...

A paid subscription is required to read more.
Log in below, or UPGRADE / SUBSCRIBE.

Continue Reading

Creative Industries

Universal Music Publishing Group signs agreement to represent Cheerful Music’s catalogue outside China

Published

4 days ago

on

May 30, 2024

By

Universal Music Publishing China has signed Chinese music company Cheerful Music to an exclusive worldwide publishing deal, excluding mainland China. The agreement will see UMPG represent Cheerful Music's catalogue outside of mainland China and contribute to the company's international development.

Cheerful Music was founded by songwriter and artist Snow.J (Snow Jiang) in 2019 in Shenzhen and with financial backing from music technology company Tencent Music. Over the years, it has signed a ...

A paid subscription is required to read more.
Log in below, or UPGRADE / SUBSCRIBE.

Continue Reading

Trending