by Aminah Ibrahim

Warner Music Group (WMG) is one of the ‘big four’ record companies, placing third in line with Universal Music Group, Sony Music Entertainment, and EMI Group. WMG is comprised of many famous record labels in the industry such as Asylum (who had signed big names such as Bob Dylan), Bad Boy (founded by rapper Sean “Diddy” Combs) Atlantic, Rhino and many more, along with Warner/Chappell Music, the world’s third largest music publisher [1], with a vast catalog of more than one million songs and 65,000 songwriters and a range of genres comprising pop, rock, jazz, country, R&B, hip-hop, rap, reggae, Latin, folk, blues, symphonic, soul, Broadway, techno, alternative, gospel, and other Christian music [2].

Warner Music Group is comprised of businesses built to assist music artists reach creative and financial success and offering music listeners with the best music out there. WMG’s recorded music side of the company offers artists services such as management, touring, merchandising, fan clubs, brand endorsements and sponsorships, as well as ways to help sell music content straight to listeners.

 

BRIEF HISTORY

Warner Music Group’s roots date back to the founding of Warner Bros. Records in 1958 as a division of the Warner Bros. Pictures, and is headquartered in New York, New York. Warner music group was known as WEA for three decades, standing for Warner Bros.-Elektra-Atlantic Records; three major record companies that signed and developed musical acts and distributed product to other record labels and connected businesses [3].

Despite its name, the present life of the company as Warner Music Group was formed in 2004 when it was spun off and made completely separate from Time Warner, and Time Warner has no rights over the Warner Music Group. In May of 2005, WMG became the only stand-alone music company to be publicly traded in the United States. In the middle of 2011, WMG announced its sale to Access Industries, Inc. The acquisition of WMG by Access Industries was completed on July 20, 2011 [4].

 

MANAGEMENT

 

Stephen F. Cooper

Lyor Cohen

Paul M. Robinson

Will Tanous

Brian Roberts

Cameron Strang

 

 

CURRENT AFFAIRS

January 2012

January 10

Recording artist Flo Rida’s smash single, “Good Feeling” has been RIAA-certified Platinum, with digital single sales already approaching 2 million. “Good Feeling” is now the rapper’s sixth certified Platinum hit in the U.S. The Dr. Luke-produced track is currently Top 5 at multiple outlets, including Billboard’s “Hot 100” chart, Top 40 and CHR/Rhythmic radio platforms and iTunes’ “Top Songs” chart.

{Click the image to the left to watch the music video}

Febraury 2012

February 23

Leanne Sharman is appointed to the role of Vice President & Managing Director, Digital Strategy & Business Development, Europe, Middle East & Africa (EMEA), Recorded Music. And will be responsible for the development of new digital businesses with new players and established partners across the region, reporting to Stephen Bryan, Executive Vice President, Digital Strategy & Business Development, Recorded Music who is based in New York [5].

March 2012

March 13-15

The Warner Sound Captured by Nikon [6] took focus for three nights at SXSW (a set of film, interactive and music festivals that take place every March in Austin, Texas) from March 13th and concluded on March 15th at the famous La Zona Rosa.

Live performances by B.o.B, T.I., Santigold, Theophilus London, Kimbra, Chuckie, Ed Sheeran, Dr John, Wale and Gary Clark Jr., as well as many more took place at this innovative and collaborative event [7].

Via Warner Music Group’s original YouTube Channel “The Warner Sound”, all three evening showcases were streamed live with Nikon HD-SLR cameras, at www.youtube.com/thewarnersound.

March 16

Warner Music Group Corp. and WMG Holdings Corp. announce an exchange offer for 13.75% senior notes due in 2019 and Warner Music Group Corp. and WMG Acquisition Corp. announce an exchange offer for 11.50% senior notes due in 2018 as well [8].

March 22

Warner Music UK announced today that it had entered into a partnership with S-Curve, the full-service music company founded and run by Steve Greenberg. Under the terms of the agreement, Warner Music UK will license S-Curve’s repertoire for all territories excluding the U.S. and Canada. The wide-ranging deal covers new releases from S-Curve’s impressive roster of artists, and includes synchronization opportunities and expanded rights activity. Among the material planned for 2012 are highly-anticipated new albums from multi-platinum-selling soul singer Joss Stone.

April 2012

April 17

WMG Holdings Corp. announced that it has extended its offer to exchange the $150 million in aggregate principal amount of its 13.75% Senior Notes due 2019, which have been registered under the Securities Act of 1933, as amended, for an equal principal amount of its outstanding 13.75% Senior Notes due 2019.

Separately, WMG Acquisition Corp. today announced that it has extended its offer to exchange $765 million in aggregate principal amount of its 11.50% Senior Notes due 2018, which have been registered under the Securities Act of 1933, as amended, for an equal principal amount of its outstanding 11.50% Senior Notes due 2018.

The new expiration date for the Exchange Offers is 5:00 p.m., New York City time, on April 19, 2012 and settlement is expected to occur on April 20, 2012 [9].

April 19

Warner/Chappell Music has tied for the title of 2012 Music Publisher of the Year, asannounced at the 29th annual ASCAP Pop Music Awards. Underscoring the legendary publisher’s awesome year and continued force in the industry, Warner/Chappell songwriters also picked up 19 awards at the Pop Music Awards, including “Song of the Year” award, which was presented to Bruno Mars and Khalil “Cassius D. Kalb” Walton for “Just the Way You Are.”

 

April 27

Prince Royce was the top winner of the night at the 2012 Latin Billboard Awards held in Miami, winning in 8 categories: Artist of the Year; Album of the Year (“Prince Royce”); Songwriter of the Year (Geoffrey Royce Rojas); Digital Album of the Year (“Prince Royce”); Tropical Album of the Year (“Prince Royce”); Tropical Song of the Year (“Corazón Sin Cara”); Tropical Albums Artist of the Year, Solo; and Tropical Songs Artist of the Year, Solo.

 

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Footnotes

[1] Music & Copyright, April 21, 2010

[2] http://www.warnerchappell.com/about.jsp?currenttab=about_us

[3] http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=734078

[4] http://www.billboard.biz/bbbiz/industry/record-labels/access-industries-completes-acquisition-1005283602.story

[5] http://www.wmg.com/newsdetails/id/8a0af81235ffe9ae01360bfea7700380

[6] http://sxsw.thewarnersound.com/

[7] http://technorati.com/entertainment/article/warner-music-group-nikon-puttin-it/

[8] http://www.wmg.com/newsdetails/id/8a0af8123610724d01361c7994dc0812

[9] http://www.marketwatch.com/story/wmg-holdings-corp-and-wmg-acquisition-corp-announce-extension-of-exchange-offers-to-april-19-2012-2012-04-17