Get the latest gossip
What You Need to Know From Warner Music Group’s Earnings Call
Warner Music earnings call highlights include streaming growth, cost cuts, restructuring and more, including Elliot Grainge's arrival at Atlantic.
On a call with financial analysts, CEO Robert Kyncl discussed Warner’s recent reorganization — how it built a simpler, flatter, faster structure, according to him — as well as why he’s so confident that streaming revenues will continue to deliver strong growth and the company’s M&A and internal investment plans. Additionally, WMG gained a greater share of the most streamed songs thanks to popular releases from Rosé, Bruno Mars, Teddy Swims, Benson Boone, Charli XCX, Zach Bryan and others. Cutting costs, reducing its headcount and restructuring some label groups saved an estimated $260 million on an annualized basis, WMG said in September — money Kyncl says is now freed up for dealmaking and internal investments.
Or read this on Billboard
