The Los Angeles Business (Free subscription) | 05/19/2009
Warner Music Group Corp. will sell $500 million in senior secured notes and use the net proceeds from the offering to repay a portion of the term loans under its existing credit facility. (WMG)
The Daily Swarm (Free subscription) | 05/08/2009
Digital Music News The heavily-hyped MySpace Music is threatening to become a revenue dog for major labels – and Warner Music Group is now saying it out loud. “MySpace Music has been slow to create monetization tools and impact in a revenue-generating way… and that needs to change, quite frankly,” Warner chief Edgar Bronfman, Jr. stated in a Thursday investor call. “It...
GigaOM (Free subscription) | 05/08/2009
Earlier today, news emerged that Warner Music Group had taken a $33 million writedown on its investments in startups Lala ($20 million) and Imeem ($15 million). What that means is that Warner music is giving up on these ad-supported digital music startups and moving on. This comes as no surprise to us: Rags Gupta [...]
Variety.com (Free subscription) | 05/08/2009
Music News: Bronfman critical of digital music biz -- Warner Music Group CEO Edgar Bronfman was critical of the digital music biz Thursday as the label reported that online sales growth slowed while the company’s losses widened.
SeekingAlpha Media Stocks (Free subscription) | 05/07/2009
Warner Music Group Corp. (WMG) F2Q09 Earnings Call May 7, 2009 8:30 am ET Complete Story »
VentureBeat (Free subscription) | 05/07/2009
When it comes to music startups of my generation, they have yet to bring in serious revenue. And to make matters worse, the ones that stream music have to pay record labels a hefty licensing fee. Major record label Warner Music Group may be one of the record labels driving up costs for these startups, [...]
AfterDawn.com (Free subscription) | 05/07/2009
Warner Music Group's revenue for the second quarter of 2009 is down more than $100 million dollars compared to the same period last year. A statement from the company blames the decline primarily on worldwide economic conditions and a release schedule weighted heavily toward the last part of the year. WMG's one semi-bright spot is digital (internet-based) revenue, which accounted for $173 million...
Paidcontent (Free subscription) | 05/07/2009
Warner Music Group ( NYSE: WMG ) won't be buying stakes in more web music services any time soon, after it wrote off $33 million on Thursday against its investments in Lala and Imeem. CEO Edgar Bronfman Jr. told analysts on the earning's call: "We do not intend to make more digital venture capital investments. The intention was to (invest in) young companies pursuing innovative business models....
The Business Insider (Free subscription) | 05/07/2009
Warner Music Group saw revenues fall 17% year-over-year for the quarter ended March 31 , to $668 million from $800 million--a steeper drop than Wall Street was predicting--and also posted a net loss of $68 million compared to $34 million last year. Warner Music attributed its results to its release schedule and the current economic climate, while boasting that its digital revenue made up 26% of its...
Paidcontent (Free subscription) | 05/07/2009
Warner Music Group ( NYSE: WMG ) is making a $33 million writedown against its investments in web music service Lala and cash-strapped social net Imeem. WMG, whose roster includes Linkin Park, had invested $20 million and $15 million in the sites respectively. As part of the writedown, WMG, in its earnings for the first three months of this calendar year, also says it's writing off an expectation...
MediaMemo (Free subscription) | 05/07/2009
Last year, the music label boasted about its investments in two digital music startups. Today it says those dollars were wasted. Bummer for imeem, which is trying to raise more money.
Reuters (Free subscription) | 05/07/2009
NEW YORK (Reuters) - Warner Music Group posted a wider quarter loss on Thursday as recorded music sales declined more than expected.
Market Watch (Free subscription) | 05/07/2009
LONDON (MarketWatch) -- Warner Music Group said its second-quarter loss widened to $68 million, or 45 cents a share, from $37 million, or 25 cents a share, in the year-earlier quarter. Results in the latest quarter included a charge of 22 cents a share related to the impairment of some investments. Excluding the charge, the company would have posted a loss of 23 cents a share. Analysts, on average,...
Market Wire (Free subscription) | 05/07/2009
NEW YORK, NY (MARKET WIRE) Warner Music Group Corp. (NYSE: WMG)
The Business Insider (Free subscription) | 05/07/2009
Stress tests released today! Macro Initial Unemployment Claims (week ended May 2) (8:30 AM) Productivity (Q1) (8:30 AM) Fed Chairman Ben Bernanke on "Bank Structure and Competition" (9:30 AM) Consumer Credit (March) (3:00 PM) Earnings Sirius XM (SIRI) (8:00 AM) Warner Music Group (WMG) (8:30 AM) MetroPCS (PCS) (9:00 AM) Cablevision Systems (CVC) (10:00 AM) DirecTV (DTV) (2:00 PM) TheKnot...
Videos