"We’ve not just helped our artists and songwriters do new, brave, and disruptive things, we’ve held ourselves to the same standard," Kyncl says in a year-end note to staff.
With investors increasingly focused on streaming gains, the Big Three are looking at ways to supercharge subscriber growth in the U.S. and emerging markets.
CEO Robert Kyncl discussed higher wholesale prices for DSPs, Elliot Grainge and the 10K team's "intensity," and putting money to work in A&R.
Digital and streaming revenues drive overall revenue growth.
As streaming growth slows in mature markets, the majors are increasingly looking to labels, catalogs and services in emerging markets overseas.
Also: Oak View Group finds a Middle East partner, Dreamliner acquires two event logistics companies, atVenu raises $130 million and more.
Wong, who has been chief marketing officer for WMG since 2020, will also become president of East West Records as part of his new purview.
This year’s restructuring plan has reduced WMG’s head count by 750 and will save $260 million annually.
Warner Music CEO Robert Kyncl announced that additional employees will be departing the label as Elliot Grainge prepares to take over as CEO.
The company brings on executives Tatiana Cantinho and Mariana Frensel to fortify its genre-focused strategies and strengthen its market presence.
