{"id":549821,"date":"2023-02-09T16:40:55","date_gmt":"2023-02-09T13:40:55","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/warner-musics-new-ceo-robert-kyncl-targets-next-phase-of-our-evolution-notes-challenging-business-environment\/"},"modified":"2023-02-09T16:40:55","modified_gmt":"2023-02-09T13:40:55","slug":"warner-musics-new-ceo-robert-kyncl-targets-next-phase-of-our-evolution-notes-challenging-business-environment","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/warner-musics-new-ceo-robert-kyncl-targets-next-phase-of-our-evolution-notes-challenging-business-environment\/","title":{"rendered":"#Warner Music\u2019s New CEO Robert Kyncl Targets \u201cNext Phase of Our Evolution,\u201d Notes \u201cChallenging Business Environment\u201d"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3eaebceac11\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3eaebceac11\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/warner-musics-new-ceo-robert-kyncl-targets-next-phase-of-our-evolution-notes-challenging-business-environment\/#Warner_Musics_New_CEO_Robert_Kyncl_Targets_%E2%80%9CNext_Phase_of_Our_Evolution%E2%80%9D_Notes_%E2%80%9CChallenging_Business_Environment%E2%80%9D\" >Warner Music\u2019s New CEO Robert Kyncl Targets \u201cNext Phase of Our Evolution,\u201d Notes \u201cChallenging Business Environment\u201d<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"Warner_Musics_New_CEO_Robert_Kyncl_Targets_%E2%80%9CNext_Phase_of_Our_Evolution%E2%80%9D_Notes_%E2%80%9CChallenging_Business_Environment%E2%80%9D\"><\/span>Warner Music\u2019s New CEO Robert Kyncl Targets \u201cNext Phase of Our Evolution,\u201d Notes \u201cChallenging Business Environment\u201d<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    Warner Music Group, home to the likes of Ed Sheeran, Cardi B and Bruno Mars, reported lower fiscal first-quarter revenue and earnings on Thursday as new CEO Robert Kyncl set his sights on \u201cthe next phase of our evolution,\u201d while also highlighting \u201ca challenging business environment.\u201d<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    The latest quarter was hit by timing factors as the comparable year-ago period included an additional week, as well as foreign currency impacts.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    Revenue for the quarter ended on Dec. 31 fell\u00a08 percent,\u00a0or\u00a03 percent\u00a0in constant currencies, to $1.49 billion. That was driven by an 11 percent drop in recorded music (or 6 percent on a constant currency basis) and a 5 percent decline (or 1 percent on a constant-currency basis) in digital revenue, including a 4 percent drop in streaming revenue. WMG noted though that \u201cunderlying growth in total streaming revenue despite a challenged macroeconomic environment.\u201d Music publishing revenue rose 9 percent (or 14 percent on a constant currency basis). <\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    WMG\u2019s quarterly net income of\u00a0$124 million\u00a0fell 34 percent from\u00a0$188 million\u00a0in the prior-year period. Adjusted operating income before depreciation and amortization (OIBDA) decreased\u00a06 percent\u00a0to\u00a0$335 million.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    In the music major\u2019s publishing unit, top sellers in the latest period included the Red Hot Chili Peppers, Zach Bryan, Lizzo and Sheeran.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    At the start of the year, Kyncl had joined WMG as its new CEO, replacing Stephen Cooper. He knows Warner Music well, having spent years as the chief business officer of\u00a0<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">YouTube<\/a>, one of the label\u2019s biggest partners.\u00a0<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    Kyncl said on Thursday: \u201cMusic\u2019s value, power and ubiquity are among the many reasons I decided to join WMG and lead the next phase of our evolution.\u201d He added: \u201cAs we navigate a challenging business environment, we expect to have a strong release schedule in the second half of 2023 while managing our costs throughout. The foundations of this company are strong, and our addressable market is continuously growing. We are excited to drive new monetization opportunities through our investments in new artists and songwriters, our catalog and our global expansion.\u201d<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    Added CFO Eric Levin: \u201cOur results reflect our resilience and operational discipline in the face of macroeconomic headwinds, as well as the impact of the extra week in the prior-year quarter. Our continued focus on efficiency enabled us to deliver strong operating and free cash flow growth, even while certain revenue lines came under pressure. We are enthusiastic about our release schedule for the second half of the fiscal year, which will feature amazing music from some of our biggest artists.\u201d<\/p>\n<\/p><\/div>\n<p><script type=\"text\/plain\" class=\"optanon-category-C0004\">\n!function(f, b, e, v, n, t, s) {\nif (f.fbq) return;\nn = f.fbq = function() {n.callMethod ? n.callMethod.apply(n, arguments) : n.queue.push(arguments);};\nif (!f._fbq) f._fbq = n;\nn.push = n;\nn.loaded = !0;\nn.version = '2.0';\nn.queue = [];\nt = b.createElement(e);\nt.async = !0;\nt.src = v;\ns = b.getElementsByTagName(e)[0];\ns.parentNode.insertBefore(t, s);\n}(window, document, 'script', 'https:\/\/connect.facebook.net\/en_US\/fbevents.js');\nfbq('init', '352999048212581');\nfbq('track', 'PageView');\n<\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more Like this articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/social-media\/\" target=\"_blank\" rel=\"noopener\">Social Media category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/www.hollywoodreporter.com\/business\/business-news\/warner-music-earnings-new-ceo-robert-kyncl-1235321302\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Warner Music\u2019s New CEO Robert Kyncl Targets \u201cNext Phase of Our Evolution,\u201d Notes \u201cChallenging Business Environment\u201d Warner Music Group, home to the likes of Ed Sheeran, Cardi B and Bruno Mars, reported lower fiscal first-quarter revenue and earnings on Thursday as new CEO Robert Kyncl set his sights on \u201cthe next phase of our evolution,\u201d&#8230;<\/p>\n","protected":false},"author":1,"featured_media":549822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/www.hollywoodreporter.com\/wp-content\/uploads\/2020\/02\/warner_music_group_logo_.jpg?w=1024","fifu_image_alt":"","footnotes":""},"categories":[17],"tags":[139680,74793,124783,74621,104466,680],"class_list":["post-549821","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-social-mediaa","tag-earnigns","tag-ed-sheeran","tag-international","tag-lizzo","tag-red-hot-chili-peppers","tag-warner-music-group"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/549821","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=549821"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/549821\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/549822"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=549821"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=549821"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=549821"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}