![]() ![]() “I plan on bringing the same approach to WMG and the industry so that our interests are aligned with our partners, and that our artists and songwriters gain maximum participation and monetization,” he told analysts. ![]() Kyncl pointed to recent hires as he looked to drive investment in new artists and songwriters at the label, which is a major partner for YouTube and its streaming app, YouTube Music. The longtime executive was key in bolstering YouTube’s business relationships with online creators and ensuring the video and music platform was a top platform for creator monetization. Kyncl replaced Stephen Cooper as head of the music label on Jan. But the former YouTube chief business officer added Warner Music expects a strong release schedule in the second half of 2023, with artists like Sheeran, Cardi B and David Guetta bringing their latest work to market. “This was a tough quarter,” Kyncl told a morning analyst call as the company faced “macro-economic headwinds” and the impact of currency exchange rates. In the music major’s publishing unit, top sellers in the latest period included the Red Hot Chili Peppers, Zach Bryan, Lizzo and Sheeran. Adjusted operating income before depreciation and amortization (OIBDA) decreased 6 percent to $335 million. WMG’s quarterly net income of $124 million fell 34 percent from $188 million in the prior-year period. ![]() 'El Sabor De La Navidad,' From Salma Hayek Pinault's Ventanarosa Productions, to Get Toronto World Premiere (Exclusive) ![]()
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