Warner Music will sell its owned and operated media properties such as Uproxx and HipHopDX in order to reinvest $200 million in other parts of the company.
The music giant's goals include "sourcing 100% renewable energy" for its operations by 2030.
The report will offer solutions to reduce the environmental impact of live events across all venue sizes.
Warner Music Japan will help build a marketing and label channel for Red Light artists, who include Phish and Sabrina Carpenter, in the world's No. 2 music market.
“One thing I’d like us all to remember is that our world has fundamentally changed… the music business is in a very different place than it was 10 years ago,” Kyncl writes.
The year saw K-pop companies making mega moves on a global scale, while the catalog market remained hot.
Also this week: SoundCloud announces artist services deals with Helix and Payday Records, ASM Global strikes a new sustainability partnership and more.
WMG becomes the second major to sign on to the new structure, which is still limited to the streamer's home territory.
The company is planning changes to its royalty model for 2024 that will disqualify some tracks from payments and increase penalties for fraud.
Negotiations with major labels are ongoing and slowing down the project's beta release.
