January 26, 2015 12:04 PM ET

Media

Company Overview of Warner Music Group Corp.

Company Overview

Warner Music Group Corp. operates as a music-based content company. It operates in two segments, Recorded Music and Music Publishing. The Recorded Music segment is involved in the discovery and development of artists; and the related marketing, distribution, and licensing of recorded music produced by such artists. It also specializes in marketing its music catalog through compilations and reissuances of previously released music and video titles, as well as in the licensing of recordings to and from third parties for various uses, including film and television soundtracks. This segment conducts its operations primarily through record labels, including Warner Bros. Records and The Atlantic R...

1633 Broadway

New York, NY 10019

United States

Founded in 1929

4,180 Employees

Phone:

212-275-2000

Key Executives for Warner Music Group Corp.

Chief Executive Officer
Age: 68
Chief Financial Officer and Executive Vice President
Age: 52
Executive Vice President of Corporate Strategy and Operations
Age: 51
Chief Executive Officer of WEA Corp and President of WEA Corp
Chief Executive Officer of Word Entertainment and President of Word Entertainment
Compensation as of Fiscal Year 2014.

Warner Music Group Corp. Key Developments

Warner Music Group Announces Reorganization of Human Resources Division; Announces New Senior Level Management Appointments

Warner Music Group has announced a reorganization of the human resources division, including new senior level management appointments. The new structure aligns the existing HR functions with WMG's strategic mission, and will help build a distinctive environment for WMG employees while evolving the company's collective skill-set in an industry in transformation. The announcement was made by Masha Osherova, Executive vice president, Human Resources for WMG. Effective immediately, WMG has three expert HR disciplines that will support the organization on a global level: HR Operations, Reward, and Talent Management. At the same time, at the local level, WMG is focusing its HR Generalists on the core task of serving its labels and business units in the pursuit of day-to-day creative and commercial goals. Within HR Operations, Nicola Shaw has been named to the newly created position of Senior vice president, Global HR Operations. Based in London and reporting to Osherova, Shaw is responsible for all operational aspects of WMG's HR strategies, including implementing advanced solutions and best-in-class HR processes and systems. Shaw brings a wealth of expertise in delivering powerful HR capabilities and efficiencies from her previous management roles at Macmillan Publishing and EMI. Based in New York and reporting to Shaw, Dawn Mander has been appointed vice president, HR Information Systems, managing the implementation of global HR platforms such as cloud-based service applications. Mander is expert in HR technology and joins WMG from Avis Budget Group, where she oversaw global HR management systems. Tracey Tavarez has been appointed as Senior vice president, Compensation & Benefits, to spearhead WMG's global reward and incentive planning, reporting directly to Osherova. Tavarez is a seasoned HR professional, having held numerous senior level positions in leading global financial institutions, most recently as global head of Investment Banking compensation for Credit Suisse. Based in New York, Tavarez's deep understanding of the global financial sector brings an essential multi-market business perspective to WMG's compensation and benefits functions. Scott Allender is expanding his responsibilities as Senior vice president of Talent & Development to oversee all global efforts around people management initiatives, including hiring, retention and training. Allender is based in Nashville and reports to Osherova. Most recently, Allender served as vice president of Human Resources for Warner/Chappell and Warner Music Nashville. Since joining the company in 1998, Allender has helped establish WMG's reputation for attracting and retaining the best people. Based in London, Jessica Meiklejon is Director, Talent Management, reporting to Allender and expanding her responsibilities to support global initiatives.

Warner Music Group and Interlude Announce Partnership

Warner Music Group and Interlude announced a strategic partnership. Under the terms of this deal, Warner Music Group will be the founding major-label partner of Interlude Music, which will utilize its proprietary cutting-edge technology to create and distribute innovative interactive music video content. The companies will jointly develop a portfolio of interactive music content allowing Warner Music Group artists endless creative and commercial opportunities. Before the partnership was struck, Warner Music Group and Interlude collaborated two high-profile projects: Coldplay Ink and Damon Albarn Heavy Seas of Love.

Warner Music Group Corp. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended September 30, 2014

Warner Music Group Corp. reported unaudited consolidated earnings results for the fourth quarter and year ended September 30, 2014. For the quarter, the company reported revenues of $771 million compared to $764 million a year ago. Operating income was $24 million compared to operating loss of $41 million a year ago. Loss before income taxes was $23 million compared to $96 million a year ago. Net loss attributable to the company was $26 million compared to $57 million a year ago. Net cash provided by operating activities was $89 million compared to $12 million a year ago. Free cash flow was $26 million compared to free cash outflow of $720 million a year ago. Adjusted OIBDA was $123 million compared to $99 million a year ago. For the year, the company reported revenues of $3,027 million compared to $2,871 million a year ago. Operating income was $19 million compared to $75 million a year ago. Loss before income taxes was $329 million compared to $225 million a year ago. Net loss attributable to the company was $308 million compared to $198 million a year ago. Net cash provided by operating activities was $130 million compared to $159 million a year ago. Free cash outflow was $25 million compared to $649 million a year ago. Adjusted OIBDA was $459 million compared to $409 million a year ago. The large drivers of the increase in capital expenditures were the company's headquarters move, the consolidation of the company's offices in the UK and other PLG-related costs, as well as increased investments in IT infrastructure and systems.

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