The company said it expects strength in paid streaming and a resurgence in ad-supported streaming to push organic growth over 20% in 2024.
With leaner staffs, “you either need to spread your remaining staff more thinly or serve a smaller roster,” one executive says.
The new app, which Kyncl says will roll out later this year, was announced at the Web Summit conference in Qatar this week.
Company-wide revenue reached a record $1.75 billion on streaming gains and strong physical sales.
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.
