Warner Music Group Corp. is planning to lay off about 600 employees, or around 10% of its workforce, as part of a restructuring plan aimed at freeing up more cash to invest in music and boost growth. Warner WMG, -0.58% said in a filing late Wednesday that it expects the plan to generate a cost savings of about $200 million on an annualized basis by the end of fiscal 2025. The company joins Snapchat’s parent Snap Inc. SNAP, -34.61%, Wayfair Inc. W, -1.84%, and Okta Inc. OKTA, +2.08% in announcing recent work ...

ToplineWarner Music announced plans Wednesday to cut 600 employees in the record label conglomerate’s latest cost-cutting effort as the company seeks to sell off its entertainment portfolio, following a string of corporate layoffs in the tech industry.Warner Music is looking to sell entertainment sites Uproxx and HipHopDX. SOPA Images/LightRocket via Getty Images Key FactsWarner Music announced the layoffs in a Securities and Exchange Commission filing, with the majority coming from its corporate and media ...

Warner Music is laying off 600 employees, or about 10% of its workforce, according to a Wednesday filing.The company said the layoffs are part of a broader restructuring plan aimed at saving costs to invest in more music and "accelerate the company's growth for the next decade." The layoffs are expected to save the company $200 million by the end of fiscal 2025.The majority of the savings will be allocated toward increasing investment in Warner Music's core music units and new technologies.According to the ...

Financial Highlights Double-Digit Growth in Revenue and Adjusted OIBDA as both Recorded Music and Music Publishing Deliver Highest Quarterly Revenue in Company HistoryRecorded Music Results Bolstered by an Acceleration in Subscription and Ad-Supported StreamingMusic Publishing Momentum Continues with Fifth Consecutive Quarter of Increasing Revenue Growth Robust Operating Cash Flow Conversion of 65% of Adjusted OIBDALaunched Plan to Achieve $200 million in Annual Savings to be Reinvested into Growth Opportun ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the quarterly period ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-32502 Warner Music Group Corp. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 13-4271875 (I.R.S. Employer Identification No.) FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 O ...

NEW YORK, Feb. 2, 2024 /PRNewswire/ -- Today, Megan Thee Stallion and Warner Music Group (Nasdaq: WMG) announced an innovative agreement that will enable the Houston native to maintain her independence as a musician while also having access to the music company's robust global services, ranging from radio promotion to marketing worldwide. L-R: Rayna Bass (Co-President, 300 Entertainment), Desiree Perez (CEO, Roc Nation), Megan Thee Stallion, Max Lousada (CEO, Recorded Music, WMG) Through the unique stru ...

Warner Music Group Corp. (WMG) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended December 2023. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The earnings report, which is expected to be released on February 8, 2024, might help the stock move higher if these key numbers ar ...

Warner Music Group Corp. (WMG) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Since a changing ear ...

NEW YORK, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Warner Music Group Corp. will release its financial results on Thursday, February 8, 2024, for the first quarter ended December 31, 2023, and will hold an earnings conference call that morning at 8:30 a.m. ET. To access the conference call, please register here. Once registered, you will receive an email with the dial-in number along with your personalized pin needed to join the call. We suggest you call in 10 minutes prior to the start time. If you do not anticip ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-32502 Warner Music Group Corp. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incor ...