Warner distribution division has shut down several accounts for small retailers of physical music. According to Pitchfork, WEA is enforcing a policy that requires a minimum annual order of $10,000 for stores with direct accounts. Continue Reading
Facebook is not a very musical service, and has never seemed to care about audio content. Now, though, a report emerges that the 1.5-billion-user social platform is working with Warner Music to test a new product called Slideshow. Continue Reading
Warner Music Group reported its second quarter financial results, and streaming was the top source of revenue. “We are now the first major music company to report that streaming is the largest source of revenue in our recorded music business, surpassing our revenue from physical formats,” CEO Stephen Cooper said. Continue Reading
On the Move tracks hires, promotions, and other notable personnel changes within the online audio industry. Today’s moves include new C-suite announcements from ASCAP and Warner Music Group. Continue Reading
Warner Music Group posted its results for the first quarter ending Dec. 31, with the music performance buoyed by streaming. A large portion of the revenue figures came from digital sources, which posted an 18% increase to $322 million. Digital revenue was responsible for 41% of the company’s total revenue, up from a 35.6% portion in the year-ago period. Continue Reading
Warner Music Group has attracted extra attention this quarterly earnings season with the announcement that its revenue from streaming music has surpassed revenue from downloads. CEO Stephen Cooper said that second-quarter revenue from streaming services increased 33%, while overall digital revenue rose only 7%. All other revenue streams aside from digital – including physical sales – declined for the label. Continue Reading
Brief news items and worthy reads from around the web: How the major labels kept control; podcasting as the new business tool; Radio France’s ongoing strike and media support. Continue Reading
Warner Music Group posted its financial report for the year ending Sept. 30, and the results included some impressive figures related to streaming. The company’s revenue rose 5.2% to $3.02 billion, it’s highest number since 2009. That total was bolstered by an increase of $150 million in revenue from streaming music. Continue Reading
Warner Music Group has entered into a distribution agreement with Tencent, a Chinese Internet conglomerate. Tencent will be responsible for distributing Warner’s catalog and new releases to local music services in China. One of the main platforms where Tencent will be providing Warner’s library is its proprietary streaming music platform, QQ Music. The free listening service is one of the longest-running in China. Continue Reading
After a bobble in negotiations last month, SoundCloud and Warner Music Group have signed a licensing deal. “The deal includes innovative licensing terms that will provide WMG and its artists greater ability to manage the availability of content, while providing a path towards delivering additional revenue from user-generated mixes and mash-ups of WMG music,” SoundCloud said. Continue Reading
In July, we wrote that Playlists.net, a platform for sharing Spotify playlists, was looking for a buyer. Today, the hoped-for deal was announced. The UK startup ShareMyPlaylists has been acquired by the artist and services arm of American recording giant Warner Music Group. Financial details of the purchase were not disclosed. Continue Reading
The Financial Times reported that SoundCloud has hit stumbling blocks in its negotiations with three major music labels. Sources told the publication that Universal, Sony, and Warner have all rejected SoundCloud’s proposed terms and are looking for a better deal. In fact, Universal is allegedly not in conversation with the online music portal anymore. Continue Reading