May 03, 2016 10:38 AM ET

Media

Company Overview of Warner Music Group Corp.

Company Overview

Warner Music Group Corp. operates as a music-based content company in the United States and internationally. The company operates through 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. This segment also specializes in marketing its music catalog through compilations and reissuances of previously released music and video titles. It conducts its operation primarily through record labels, such as Warner Bros. Records and Atlantic Records, as well as Asylum, Big Beat, Canvasback, Eastwest, Elektra, Erato, FFRR, ...

1633 Broadway

New York, NY 10019

United States

Founded in 1929

4,211 Employees

Phone:

212-275-2000

Key Executives for Warner Music Group Corp.

Chief Executive Officer, President and Director
Age: 69
Chief Financial Officer and Executive Vice President
Age: 53
Chairman, Chairman of Warner Bros. Records and Chief Executive Officer of Warner Bros. Records
Age: 49
Chief Executive Officer of International and Global Commercial Services - Warner Recorded Music
Age: 49
President of Warner Music Nashville and Chief Executive Officer of Warner Music Nashville
Age: 59
Compensation as of Fiscal Year 2015.

Warner Music Group Corp. Key Developments

Warner Music Group Appoints Heath Kudler as Executive Vice President of Global Repertoire Acquisition

Warner Music Group, or WMG has appointed Heath Kudler as executive vice president of global repertoire acquisition. In this newly created position, Kudler will be exploring a broad range of opportunities to expand the company's musical portfolio, including bringing new artists, labels, and master catalogs into the WMG fold. Kudler, who previously held senior business & legal affairs positions at Epic Records and Island Def Jam, is based at WMG's New York headquarters and reports to Stu Bergen, WMG's CEO, International and Global Commercial Services. Prior to joining WMG, Kudler was with Epic Records from 2011 to 2014, most recently serving as EVP of Business & Legal Affairs.

Warner Music Group Names Stu Bergen as CEO of International and Global Commercial Services

Warner Music Group, or WMG, has promoted Stu Bergen to the newly created position of CEO of international and global commercial services. In his new position, Bergen oversees WMG's international Recorded Music operations outside the US and UK; Warner Music's Global Marketing team; WEA and ADA - WMG's Artist & Label Services divisions; and Warner Classics. Bergen has been President, International, Warner Recorded Music since 2013. As a member of WMG's senior management team, he is based at the company's headquarters in New York and reports to WMG CEO Steve Cooper.

Warner Music Group Corp. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2015

Warner Music Group Corp. announced unaudited consolidated earnings results for the first quarter ended December 31, 2015. For the quarter, the company reported revenue of $849 million against $829 million a year ago. Digital revenue was $348 million against $295 million a year ago. Operating income was $62 million against $23 million a year ago. Income before income taxes was $25 million against loss before income taxes of $32 million a year ago. Net income was $28 million against net loss of $41 million a year ago. Net income attributable to the company was $27 million against net loss attributable to the company of $42 million a year ago. OIBDA was $137 million against $102 million a year ago. Adjusted net income was $28 million against adjusted net loss of $27 million a year ago. Adjusted operating income was $62 million against $37 million a year ago. Adjusted OIBDA was $137 million against $116 million a year ago. Net cash provided by operating activities $61 million against $35 million a year ago. Capital expenditures were $10 million against $24 million a year ago. The increase in operating income, OIBDA and OIBDA margin is largely the result of the increase in revenue and the revenue mix. Net income improved as a result of the increase in revenue and OIBDA, currency-related gains on the company’s Euro-denominated debt and a $3 million income tax benefit versus a $9 million income tax expense in the prior-year quarter.

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