Eric Levin: Last News

Jem Aswad Senior Music EditorWarner Music Group showed solid results for the 2022 quarter that ended on March 31, with revenue up 10.1% (13.2% in constant currency).Citing the success of such Warner label and publishing artists as Silk Sonic, Ed Sheeran, Jack Harlow, Dua Lipa, Megan Thee Stallion, Rauw Alejandro, Chris Stapleton, Dave, Anitta, the Red Hot Chili Peppers, Kodak Black and Gayle, CEO Steve Cooper said, “Warner Music Group’s unique combination of scale and agility gives us, our artists, and our songwriters an edge in music’s ever-expanding universe of opportunity. We continue to build our unparalleled artist development expertise, our differentiated approach to global expansion, and our ground-breaking commitment to innovation at the intersection of music, gaming, social and fitness.

DEALSConcord Music Publishing has signed Australian band Coterie to a worldwide publishing deal. “There is a deep connection and understanding that flows through their songs”, says Jaime Gough, MD at Concord Music Publishing ANZ.

Variety Staff Follow Us on TwitterWarner Music Group announced that Kareem Chin has joined the company as Senior Vice President, Head of Investor Relations, effective immediately. Chin comes to WMG from iHeartMedia, Inc., where he held the same title.

The future looks so bright, Warner Music Group might have to wear shades. That’s the takeaway from the 70-minute earnings call on Tuesday during which CEO Stephen Cooper and CFO Eric Levin said the word “opportunity” no fewer than 11 times. But how should one interpret the word during a discussion of 2020’

Eric Levin called the quarter’s results "slightly better than our expectations."Due mainly to non-cash stock-based compensation related to its IPO on June 3, Warner posted a $519 million net loss last quarter compared to net income of $14 million a year earlier. After removing these one-time costs, Warner’s earnings before interest, taxes, amortization and depreciation (EBITDA) was $189 million, an improvement from $159 million in the same quarter last year.Digital revenue grew 11.1% to $861 million, or 13.4% at constant currency, in the quarter.