The company now looks to tap a “robust pipeline” of music asset opportunities and add to its more than 100,000 copyrights.
Revenue grew 44% from pre-pandemic 2019 levels to $16.68 billion.
Concert revenue grew tenfold for the NCT Dream and Red Velvet label, while recorded music sales declined 3.7%.
In a short period of time, Jangwon Lee has helped Beyond Music grow to over 26,000 copyrights.
ValueAct's chief executive said Spotify is now "sorting out what was built to last and what was built for the bubble."
Revenues increased to $642.2 million ahead of the company's spin-off of its live entertainment business, which it expects to complete by the end of March.
On an earnings call, Kyncl addressed the future of both Warner and the business at large, commenting on AI, subscription streaming and TikTok.
WMG's net income was off 34% compared to the year-ago quarter, which had an extra week.
The company ended 2022 with roughly 935 million paid subscriptions across services like Apple TV+ and Apple Music.
The investment firm known for its stakes in Taylor Swift's, Dr. Dre's catalogs now has $4.4 billion in assets under management.
