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Warner Music Stock Jumps After Big Streaming Boost in Third Quarter
Warner Music Group saw its stock rise as much as 6% on Wednesday after reporting strong growth in streaming and publishing.
Warner Music Group saw its stock rise as much as 6% on Wednesday morning after reporting strong growth in streaming and publishing despite dips in sales of merch and physical product. He then address the recent industry-wide leveling-off of streaming numbers and concern over the majors’ relationship with Spotify (particularly over its new bundling options, which will earn songwriters and publishers an estimated $150 million less in the first year). “I know that investor attention has recently been focused on the dynamics between labels and DSPs, with some speculating that we’re adversaries playing a zero-sum game,” he said.
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