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Warner Music Group Corp. (WMG) Report Analysis

Corporate Events

Positive

Warner Music Group Corp., $ 0.16, Cash Dividend...

2022-11-10 22:53:00

Warner Music Group Corp., $ 0.16, Cash Dividend, Nov-21-2022

Positive

Warner Music Group Corp. Declares Regular Quart...

2022-11-10 12:38:00

Warner Music Group Corp. announced that its Board of Directors declared a regular quarterly cash dividend of $0.16 per share on WMG’s Class A ...

Positive

Anything World Limited announced that it has re...

2022-11-09 00:00:00

Anything World Limited announced that it has received $7.5 million in a round of funding on November 9, 2022. The transaction included partici...

Neutral

Warner Music Group Corp. to Report Q4, 2022 Res...

2022-10-31 13:12:00

Warner Music Group Corp. announced that they will report Q4, 2022 results at 9:30 AM, US Eastern Standard Time on Nov 22, 2022

Neutral

Warner Music Group Corp., Q4 2022 Earnings Call...

2022-10-31 13:12:00

Warner Music Group Corp., Q4 2022 Earnings Call, Nov 22, 2022

Positive

Warner Music Group Corp. (NasdaqGS:WMG) acquire...

2022-10-10 00:00:00

Warner Music Group Corp. (NasdaqGS:WMG) acquired an unknown stake in Mascom EC doo on October 10, 2022. After the acquisition new development ...

Neutral

Warner Music Group Corp. Presents at 6th Annual...

2022-10-06 06:36:00

Warner Music Group Corp. Presents at 6th Annual Wells Fargo TMT Summit, Nov-29-2022 . Venue: the Cosmopolitan Hotel, Las Vegas, Nevada, United...

Neutral

Warner Music Group Corp. Announces Change in Fi...

2022-09-30 21:11:00

On September 29, 2022, the board of directors of Warner Music Group Corp. approved a change, effective for the 2023 fiscal year, from a modifi...

Negative

Warner Music Group Corp. Announces Board Changes

2022-09-23 21:17:00

As previously disclosed, on June 22, 2022, Warner Music Group Corp. announced that it had begun planning for the succession of the Company’s C...

Negative

Warner Music Group Corp. Appoints Robert Kyncl ...

2022-09-21 13:00:00

Robert Kyncl has been appointed Chief Executive Officer of Warner Music Group Corp., effective January 1, 2023. Kyncl currently serves as Chie...

Neutral

iHeartMedia and Warner Music Group’s New Podcas...

2022-09-08 13:00:00

iHeartMedia and Music Group, through its new podcast network, Interval Presents announced a multi-year deal. Through the partnership, the two ...

Neutral

Warner Music Group Corp. Presents at Goldman Sa...

2022-09-06 15:06:00

Warner Music Group Corp. Presents at Goldman Sachs Communacopia + Technology Conference 2022, Sep-12-2022 10:00 AM. Venue: The Palace Hotel in...

Positive

Warner Music Group Corp., $ 0.16, Cash Dividend...

2022-08-13 02:15:00

Warner Music Group Corp., $ 0.16, Cash Dividend, Aug-23-2022

Positive

Warner Music Group Corp. Announces Quarterly Ca...

2022-08-12 11:30:00

Warner Music Group Corp. announced that its Board of Directors declared a regular quarterly cash dividend of $0.16 per share on WMG’s Class A ...

Neutral

Warner Music Group Corp. to Report Q3, 2022 Res...

2022-07-19 15:34:00

Warner Music Group Corp. announced that they will report Q3, 2022 results on Aug 09, 2022

Neutral

Warner Music Group Corp., Q3 2022 Earnings Call...

2022-07-19 15:34:00

Warner Music Group Corp., Q3 2022 Earnings Call, Aug 09, 2022

Negative

Warner Music Group Corp. Announces Resignation ...

2022-06-22 13:12:00

On June 22, 2022, Warner Music Group Corp. announced that it has begun planning for the succession of the Company’s director, Stephen Cooper. ...

Negative

Warner Music Group Corp. Announces Resignation ...

2022-06-22 13:12:00

On June 22, 2022, Warner Music Group Corp. announced that it has begun planning for the succession of the Company’s Chief Executive Officer, S...

Positive

AUTHENTIC ARTISTS, INC. announced that it has r...

2022-06-21 00:00:00

AUTHENTIC ARTISTS, INC. announced that it has received a round of funding on June 21, 2022. The transaction included participation from new in...

Neutral

Warner Music Group Corp. Presents at J.P. Morga...

2022-05-17 14:36:00

Warner Music Group Corp. Presents at J.P. Morgan’s 50th Annual Global Technology, Media and Communications Conference 2022, May-23-2022 01:50 ...

Positive

Warner Music Group Corp., $ 0.15, Cash Dividend...

2022-05-14 15:36:00

Warner Music Group Corp., $ 0.15, Cash Dividend, May-20-2022

Positive

Warner Music Group Corp. Announces Quarterly Ca...

2022-05-13 12:27:00

Warner Music Group Corp. announced that its Board of Directors declared a regular quarterly cash dividend of $0.15 per share on WMG’s Class A ...

Neutral

Warner Music Group Corp. Presents at Credit Sui...

2022-05-06 18:22:00

Warner Music Group Corp. Presents at Credit Suisse 24th Annual Communications Conference, Jun-14-2022 01:30 PM. Venue: New York City, New York...

Positive

Providence Reportedly Seeks to Sell Its Tempo S...

2022-05-04 00:00:00

Providence Equity Partners L.L.C. is trying to sell its Tempo song catalogue for a price of as much as $600mn — a key test for the strength of...

Neutral

Wells Fargo Securities, LLC, 6th Annual Wells F...

2022-05-03 08:52:00

Wells Fargo Securities, LLC, 6th Annual Wells Fargo TMT Summit, Nov 29, 2022 through Dec 01, 2022. Venue: the Cosmopolitan Hotel, Las Vegas, N...

Neutral

Warner Music Group Corp. to Report Q2, 2022 Res...

2022-04-19 14:51:00

Warner Music Group Corp. announced that they will report Q2, 2022 results on May 10, 2022

Neutral

Warner Music Group Corp., Q2 2022 Earnings Call...

2022-04-19 14:51:00

Warner Music Group Corp., Q2 2022 Earnings Call, May 10, 2022

Positive

Deezer S.A. announced that it expects to receiv...

2022-04-18 00:00:00

Deezer S.A. announced that it will issue 15,000,000 common shares at a price of €10 per share for gross proceeds of €150 million in a round of...

Positive

Altered State Machine Ltd announced that it has...

2022-03-10 00:00:00

Altered State Machine Ltd announced that it has received a round of funding on March 10, 2022. The transaction included participation from new...

Neutral

The Goldman Sachs Group, Inc., Goldman Sachs Co...

2022-03-03 13:33:00

The Goldman Sachs Group, Inc., Goldman Sachs Communacopia + Technology Conference 2022, Sep 09, 2022 through Sep 15, 2022. Venue: The Palace H...

Negative

Warner Music Group Corp. Appoints Louis Dickler...

2022-02-08 12:55:00

As previously disclosed, on November 11, 2021, Warner Music Group Corp. appointed Louis Dickler as the Acting Chief Financial Officer in conne...

Negative

Warner Music Group Corp. Announces Executive Changes

2022-02-08 12:55:00

Warner Music Group Corp. announced that in connection with Mr. Levin’s return, Mr. Dickler will resume his role of Senior Vice President & Cor...

Positive

Warner Music Group Corp. Announces Quarterly Ca...

2022-02-08 11:30:00

Warner Music Group Corp. announced that its Board of Directors declared a regular quarterly cash dividend of $0.15 per share on WMG’s Class A ...

Neutral

Warner Music Group Corp., Q1 2022 Earnings Call...

2022-01-19 15:28:00

Warner Music Group Corp., Q1 2022 Earnings Call, Feb 08, 2022

Neutral

Warner Music Group Corp. to Report Q1, 2022 Res...

2022-01-19 15:28:00

Warner Music Group Corp. announced that they will report Q1, 2022 results on Feb 08, 2022

Negative

Warner Music Group Corp. has completed a Follow...

2022-01-04 00:00:00

Warner Music Group Corp. has completed a Follow-on Equity Offering in the amount of $351.0625 million. Security Name: Class A Common Stock ...

Negative

Warner Music Group Corp. has filed a Follow-on ...

2022-01-03 00:00:00

Warner Music Group Corp. has filed a Follow-on Equity Offering. Security Name: Class A Common Stock Security Type: Common Stock Securitie...

Neutral

JPMorgan Chase & Co., J.P. Morgan’s 50th Annual...

2021-12-21 09:47:00

JPMorgan Chase & Co., J.P. Morgan’s 50th Annual Global Technology, Media and Communications Conference 2022, May 23, 2022 through May 25, 2022...

Neutral

Credit Suisse Group AG, Credit Suisse 24th Annu...

2021-12-09 13:20:00

Credit Suisse Group AG, Credit Suisse 24th Annual Communications Conference, Jun 14, 2022 through Jun 15, 2022. Venue: New York City, New York...

Positive

Warner Music Group Corp., $ 0.16, Cash Dividend, Nov-21-2022

2022-11-10 22:53:00

Warner Music Group Corp., $ 0.16, Cash Dividend, Nov-21-2022

Positive

Warner Music Group Corp. Declares Regular Quarterly Cash Dividend, Payable on December 1, 2022

2022-11-10 12:38:00

Warner Music Group Corp. announced that its Board of Directors declared a regular quarterly cash dividend of $0.16 per share on WMG’s Class A Common Stock and Class B Common Stock, representing an aggregate quarterly dividend of approximately $82.4 million (based on the issued and outstanding shares of Class A Common Stock and Class B Common Stock). The dividend is payable on December 1, 2022, to stockholders of record as of the close of business on November 22, 2022.

Positive

Anything World Limited announced that it has received $7.5 million in funding from a group of investors

2022-11-09 00:00:00

Anything World Limited announced that it has received $7.5 million in a round of funding on November 9, 2022. The transaction included participation from new investors aCrew Capital, Alumni Ventures Group, LLC, NGC Ventures, Supernode Global Ltd, GFR Fund, LP.,managed by GREE VR Capital, LLC, GameTech Ventures Ltd. and returning investor Warner Music Group Corp. The company has raised total funding of $9.3 million till date.

Neutral

Warner Music Group Corp. to Report Q4, 2022 Results on Nov 22, 2022

2022-10-31 13:12:00

Warner Music Group Corp. announced that they will report Q4, 2022 results at 9:30 AM, US Eastern Standard Time on Nov 22, 2022

Neutral

Warner Music Group Corp., Q4 2022 Earnings Call, Nov 22, 2022

2022-10-31 13:12:00

Warner Music Group Corp., Q4 2022 Earnings Call, Nov 22, 2022

Positive

Warner Music Group Corp. (NasdaqGS:WMG) acquired an unknown stake in Mascom EC doo.

2022-10-10 00:00:00

Warner Music Group Corp. (NasdaqGS:WMG) acquired an unknown stake in Mascom EC doo on October 10, 2022. After the acquisition new development will see the two companies work together to build a roster of local artists, with the possibility of acts being streamed across Warner Music’s global network. Mascom’s catalog will continue to be distributed by Warner Music’s ADA. Warner Music Group Corp. (NasdaqGS:WMG) completed the acquisition of an unknown stake in Mascom EC doo on October 10, 2022.

Neutral

Warner Music Group Corp. Presents at 6th Annual Wells Fargo TMT Summit, Nov-29-2022

2022-10-06 06:36:00

Warner Music Group Corp. Presents at 6th Annual Wells Fargo TMT Summit, Nov-29-2022 . Venue: the Cosmopolitan Hotel, Las Vegas, Nevada, United States. Speakers: Kareem Chin, Senior VP & Head of Investor Relations.

Neutral

Warner Music Group Corp. Announces Change in Fiscal Year

2022-09-30 21:11:00

On September 29, 2022, the board of directors of Warner Music Group Corp. approved a change, effective for the 2023 fiscal year, from a modified 52/53-week reporting calendar, in which reporting periods ended on the last Friday of the calendar quarter, to a reporting calendar in which the reporting periods end on the last day of the calendar quarter. The company’s fiscal year will begin on October 1 and end on September 30. The company is not required to file a transition report because this change is not deemed to be a change in fiscal year for purposes of reporting under the Securities Exchange Act of 1934, as amended, pursuant to relevant Securities and Exchange Commission guidance.

Negative

Warner Music Group Corp. Announces Board Changes

2022-09-23 21:17:00

As previously disclosed, on June 22, 2022, Warner Music Group Corp. announced that it had begun planning for the succession of the Company’s Chief Executive Officer and director, Stephen Cooper. On September 21, 2022, the company’s Board of Directors announced that Mr. Robert Kyncl has been appointed to succeed Mr. Cooper as CEO and director of the company. Mr. Cooper and Mr. Kyncl will serve as Co-CEOs of the Company from January 1, 2023 through January 31, 2023. On January 31, 2023, Mr. Cooper will retire from the Company and resign from the Board. Following his retirement, Mr. Cooper will provide consulting services to the Company through January 31, 2024. Effective as of February 1, 2023, Mr. Kyncl will be appointed to the Board. Mr. Kyncl, age 52, currently serves as the Chief Business Officer of YouTube, a division of Alphabet Inc., where he is responsible for YouTube’s creative and commercial partnerships, as well as its product operations and marketing. Mr. Kyncl has driven the development of YouTube’s creator ecosystem and original content initiatives, while helping lead the launch of its paid subscription services, YouTube Music and YouTube Premium. Prior to joining YouTube in 2010, Mr. Kyncl spent seven years at Netflix Inc. where he led the company’s push into film and television content, playing an instrumental role in the company’s evolution as a streaming giant. Mr. Kyncl, together with his wife Luz, run the Kyncl Family Foundation, which provides financial assistance to students from underrepresented communities pursuing STEM degrees. Mr. Kyncl holds an MBA from Pepperdine University and a B.S. in International Relations from SUNY New Paltz. The Company believes that all of these experiences give Mr. Kyncl the qualifications and skills to serve as the Company’s CEO and as a director of the Company.

Negative

Warner Music Group Corp. Appoints Robert Kyncl as Chief Executive Officer, Effective from January 1, 2023

2022-09-21 13:00:00

Robert Kyncl has been appointed Chief Executive Officer of Warner Music Group Corp., effective January 1, 2023. Kyncl currently serves as Chief Business Officer at YouTube, where he's been instrumental in its phenomenal growth across all platforms. To ensure a smooth leadership transition, Kyncl and current WMG CEO Steve Cooper will serve as Co-CEOs for the month of January 2023. As of February 1, 2023, Kyncl will become sole CEO of WMG and assume Cooper's board seat on WMG's Board of Directors. Since 2010, Kyncl has played a central role in YouTube's strategy and its impact on entertainment and culture, including overseeing its creative and commercial partnerships, as well as its operations. He's driven the development and expansion of YouTube's creator, artist, and media company ecosystem, while helping lead the launch of its paid subscription services, YouTube Music, YouTube Premium, and YouTube TV. Prior to YouTube, Kyncl spent seven years at Netflix, where he led the push into streaming film and TV content, helping the company evolve into an entertainment giant. Cooper is the longest-running CEO in WMG's history, having been appointed in August 2011, following the purchase of the company by Len Blavatnik's Access Industries. During Cooper's leadership, the company has expanded its investment in artists and songwriters, grown its global market share, and diversified its revenue sources. The first music entertainment company to report streaming as its largest source of recorded music revenue, WMG has now established a reputation as a Web 3.0 innovator. In the last decade, the company has acquired companies such as Parlophone Label Group, Gold Typhoon, Spinnin', and 300, launched operations in over 20 additional countries, and assembled a network of D2C destinations under the WMX banner. Recruited by Netflix in 2003 to work on its DVD-by-mail business, Kyncl volunteered to explore the potential of streaming video in 2005 and helped deliver the debut of Netflix's streaming service in 2007. Having forged wide-ranging relationships across entertainment culture, he joined YouTube in 2010. He began his career in the mailroom of a talent agency, J. Michael Bloom, and then worked for HBO International, before joining a kids entertainment start-up, ALFY. He holds an MBA from Pepperdine University and a BS in International Relations from SUNY New Paltz.

Neutral

iHeartMedia and Warner Music Group’s New Podcast Network, Announce Multi-Faceted Partnership

2022-09-08 13:00:00

iHeartMedia and Music Group, through its new podcast network, Interval Presents announced a multi-year deal. Through the partnership, the two companies will co-produce a slate of shows that range from ongoing weekly podcasts to limited-run series, beginning this fall. As part of the collaboration, Interval Presents will distribute its podcasts through the iHeartPodcast Network widely to all podcast consumption platforms.

Neutral

Warner Music Group Corp. Presents at Goldman Sachs Communacopia + Technology Conference 2022, Sep-12-2022 10:00 AM

2022-09-06 15:06:00

Warner Music Group Corp. Presents at Goldman Sachs Communacopia + Technology Conference 2022, Sep-12-2022 10:00 AM. Venue: The Palace Hotel in San Francisco, 2 New Montgomery Street, San Francisco, California, United States. Speakers: Steve Cooper, Chief Executive Officer.

Positive

Warner Music Group Corp., $ 0.16, Cash Dividend, Aug-23-2022

2022-08-13 02:15:00

Warner Music Group Corp., $ 0.16, Cash Dividend, Aug-23-2022

Positive

Warner Music Group Corp. Announces Quarterly Cash Dividend, Payable on September 1, 2022

2022-08-12 11:30:00

Warner Music Group Corp. announced that its Board of Directors declared a regular quarterly cash dividend of $0.16 per share on WMG’s Class A Common Stock and Class B Common Stock, representing an aggregate quarterly dividend of approximately $82.4 million (based on the issued and outstanding shares of Class A Common Stock and Class B Common Stock). The dividend is payable on September 1, 2022, to stockholders of record as of the close of business on August 24, 2022.

Neutral

Warner Music Group Corp. to Report Q3, 2022 Results on Aug 09, 2022

2022-07-19 15:34:00

Warner Music Group Corp. announced that they will report Q3, 2022 results on Aug 09, 2022

Neutral

Warner Music Group Corp., Q3 2022 Earnings Call, Aug 09, 2022

2022-07-19 15:34:00

Warner Music Group Corp., Q3 2022 Earnings Call, Aug 09, 2022

Negative

Warner Music Group Corp. Announces Resignation of Stephen Cooper as the Company’s Director

2022-06-22 13:12:00

On June 22, 2022, Warner Music Group Corp. announced that it has begun planning for the succession of the Company’s director, Stephen Cooper. The Company expects the transition to happen by the end of 2023.

Negative

Warner Music Group Corp. Announces Resignation of Stephen Cooper as the Company’s Chief Executive Officer

2022-06-22 13:12:00

On June 22, 2022, Warner Music Group Corp. announced that it has begun planning for the succession of the Company’s Chief Executive Officer, Stephen Cooper. The Company expects the transition to happen by the end of 2023. Mr. Cooper has served as CEO since 2011, and will continue to serve as CEO and director until his replacement is appointed.

Positive

AUTHENTIC ARTISTS, INC. announced that it has received funding from Warner Music Group Corp., Crush Ventures, Lupa Systems, LLC, Ovo Fund and other investors

2022-06-21 00:00:00

AUTHENTIC ARTISTS, INC. announced that it has received a round of funding on June 21, 2022. The transaction included participation from new investors Warner Music Group Corp., Crush Ventures, Ovo Fund and returning investor Lupa Systems, LLC and individual investors Sebastien Borget, Founders of Nike’s RTFKT and Mike Shinoda.

Neutral

Warner Music Group Corp. Presents at J.P. Morgan’s 50th Annual Global Technology, Media and Communications Conference 2022, May-23-2022 01:50 PM

2022-05-17 14:36:00

Warner Music Group Corp. Presents at J.P. Morgan’s 50th Annual Global Technology, Media and Communications Conference 2022, May-23-2022 01:50 PM. Venue: Westin Boston Seaport District, Boston, Massachusetts, United States. Speakers: Eric Joshua Levin, Executive VP & CFO.

Positive

Warner Music Group Corp., $ 0.15, Cash Dividend, May-20-2022

2022-05-14 15:36:00

Warner Music Group Corp., $ 0.15, Cash Dividend, May-20-2022

Positive

Warner Music Group Corp. Announces Quarterly Cash Dividend, Payable on June 1, 2022

2022-05-13 12:27:00

Warner Music Group Corp. announced that its Board of Directors declared a regular quarterly cash dividend of $0.15 per share on WMG’s Class A Common Stock and Class B Common Stock, representing an aggregate quarterly dividend of approximately $77.2 million (based on the issued and outstanding shares of Class A Common Stock and Class B Common Stock). The dividend is payable on June 1, 2022, to stockholders of record as of the close of business on May 23, 2022.

Neutral

Warner Music Group Corp. Presents at Credit Suisse 24th Annual Communications Conference, Jun-14-2022 01:30 PM

2022-05-06 18:22:00

Warner Music Group Corp. Presents at Credit Suisse 24th Annual Communications Conference, Jun-14-2022 01:30 PM. Venue: New York City, New York, United States. Speakers: Eric Joshua Levin, Executive VP & CFO.

Positive

Providence Reportedly Seeks to Sell Its Tempo Song Catalogue

2022-05-04 00:00:00

Providence Equity Partners L.L.C. is trying to sell its Tempo song catalogue for a price of as much as $600mn — a key test for the strength of the music market as interest rates rise. The deal would be the first major private equity exit from the red hot music copyrights market as inflation soars and the war in Ukraine continues. Providence has received bids from Apollo’s HarbourView music fund and Pimco and Warner Music Group Corp. (NasdaqGS:WMG), while Universal Music Group N.V. (ENXTAM:UMG) has looked at the asset, according to people familiar with the matter. The process is expected to carry on for several weeks, these people said. A few investors said that $600mn was too high a price for Tempo’s catalogue, and considered its value to be closer to $400mn to $450mn. A $600mn price would give Tempo a multiple of about 20 times annual income. Tempo, Apollo’s HarbourView, Warner and Universal declined to comment. Pimco did not respond to a request for comment.

Neutral

Wells Fargo Securities, LLC, 6th Annual Wells Fargo TMT Summit, Nov 29, 2022 through Dec 01, 2022

2022-05-03 08:52:00

Wells Fargo Securities, LLC, 6th Annual Wells Fargo TMT Summit, Nov 29, 2022 through Dec 01, 2022. Venue: the Cosmopolitan Hotel, Las Vegas, Nevada, United States.

Neutral

Warner Music Group Corp. to Report Q2, 2022 Results on May 10, 2022

2022-04-19 14:51:00

Warner Music Group Corp. announced that they will report Q2, 2022 results on May 10, 2022

Neutral

Warner Music Group Corp., Q2 2022 Earnings Call, May 10, 2022

2022-04-19 14:51:00

Warner Music Group Corp., Q2 2022 Earnings Call, May 10, 2022

Positive

Deezer S.A. announced that it expects to receive €150 million in funding from a group of investors

2022-04-18 00:00:00

Deezer S.A. announced that it will issue 15,000,000 common shares at a price of €10 per share for gross proceeds of €150 million in a round of funding on April 18, 2022. The transaction will include participation from existing investors Access Industries, Inc., UMG, Warner Music Group Corp. (NasdaqGS:WMG), Kingdom Holding Company, Eurazeo SE, Orange S.A., Xavier Niel, french and international investors including Artemis S.A., Bpifrance Investissement SAS, and Media-Participations SA. The company has signed subscription agreements with investors.

Positive

Altered State Machine Ltd announced that it has received funding from a group of investors

2022-03-10 00:00:00

Altered State Machine Ltd announced that it has received a round of funding on March 10, 2022. The transaction included participation from new investors Blockchain Founders Fund, Outlier Ventures Operations Ltd., The Chernin Group, LLC, Warner Music Group Corp., Coinbase Ventures, AirTree Ventures Pty. Limited, 6th Man Ventures, Digital Asset Capital Management, Delphi Digital Inc., Dialectic Capital Management, LLC, Flamingo DAO, LLC, Muse Capital, Raised In Space Enterprises, Quandefi and individual investors Nas, Baby Keem and Executives at GoldenTree Asset Management.

Neutral

The Goldman Sachs Group, Inc., Goldman Sachs Communacopia + Technology Conference 2022, Sep 09, 2022 through Sep 15, 2022

2022-03-03 13:33:00

The Goldman Sachs Group, Inc., Goldman Sachs Communacopia + Technology Conference 2022, Sep 09, 2022 through Sep 15, 2022. Venue: The Palace Hotel in San Francisco, 2 New Montgomery Street, San Francisco, California, United States.

Negative

Warner Music Group Corp. Appoints Louis Dickler as the Acting Chief Financial Officer

2022-02-08 12:55:00

As previously disclosed, on November 11, 2021, Warner Music Group Corp. appointed Louis Dickler as the Acting Chief Financial Officer in connection with Eric Levin, the Executive Vice President and Chief Financial Officer of the Company, taking a temporary medical leave of absence. Mr. Levin will resume his role as Executive Vice President and Chief Financial Officer of the Company on or about February 15, 2022. In connection with Mr. Levin’s return, Mr. Dickler will resume his role of Senior Vice President & Corporate Controller of the Company, effective as of the date of Mr. Levin’s return.

Negative

Warner Music Group Corp. Announces Executive Changes

2022-02-08 12:55:00

Warner Music Group Corp. announced that in connection with Mr. Levin’s return, Mr. Dickler will resume his role of Senior Vice President & Corporate Controller of the Company, effective as of the date of Mr. Levin’s return.

Positive

Warner Music Group Corp. Announces Quarterly Cash Dividend, Payable on March 1, 2022

2022-02-08 11:30:00

Warner Music Group Corp. announced that its Board of Directors declared a regular quarterly cash dividend of $0.15 per share on WMG’s Class A Common Stock and Class B Common Stock, representing an aggregate quarterly dividend of approximately $77.2 million (based on the issued and outstanding shares of Class A Common Stock and Class B Common Stock). The dividend is payable on March 1, 2022, to stockholders of record as of the close of business on February 18, 2022.

Neutral

Warner Music Group Corp., Q1 2022 Earnings Call, Feb 08, 2022

2022-01-19 15:28:00

Warner Music Group Corp., Q1 2022 Earnings Call, Feb 08, 2022

Neutral

Warner Music Group Corp. to Report Q1, 2022 Results on Feb 08, 2022

2022-01-19 15:28:00

Warner Music Group Corp. announced that they will report Q1, 2022 results on Feb 08, 2022

Negative

Warner Music Group Corp. has completed a Follow-on Equity Offering in the amount of $351.0625 million.

2022-01-04 00:00:00

Warner Music Group Corp. has completed a Follow-on Equity Offering in the amount of $351.0625 million. Security Name: Class A Common Stock Security Type: Common Stock Securities Offered: 8,562,500 Price\Range: $41 Discount Per Security: $0.34

Negative

Warner Music Group Corp. has filed a Follow-on Equity Offering.

2022-01-03 00:00:00

Warner Music Group Corp. has filed a Follow-on Equity Offering. Security Name: Class A Common Stock Security Type: Common Stock Securities Offered: 8,562,500

Neutral

JPMorgan Chase & Co., J.P. Morgan’s 50th Annual Global Technology, Media and Communications Conference 2022, May 23, 2022 through May 25, 2022

2021-12-21 09:47:00

JPMorgan Chase & Co., J.P. Morgan’s 50th Annual Global Technology, Media and Communications Conference 2022, May 23, 2022 through May 25, 2022. Venue: Westin Boston Seaport District, Boston, Massachusetts, United States.

Neutral

Credit Suisse Group AG, Credit Suisse 24th Annual Communications Conference, Jun 14, 2022 through Jun 15, 2022

2021-12-09 13:20:00

Credit Suisse Group AG, Credit Suisse 24th Annual Communications Conference, Jun 14, 2022 through Jun 15, 2022. Venue: New York City, New York, United States.

Fundamental Summary

Warner Music published its Q2 report on 2022-08-09 with positive results, but no significant factors particularly remarkable relative to its peers. Its growth, value, and income factors all individually appear positive and give support for optimism regarding the likelihood of continued positive performance. Therefore, Warner Music received an overall score of 74, translating into a HOLD ranking.

Warner Music reported earnings results for the full year ended September 30, 2022. For the full year, the company reported sales was USD 5,919 million compared to USD 5,301 million a year ago. Net income was USD 551 million compared to USD 304 million a year ago.

Business Description

Warner Music operates as a music entertainment company in the United States, the United Kingdom, Germany, and internationally. The company operates through Recorded Music and Music Publishing segments. The Recorded Music segment is involved in the discovery and development of recording artists, as well as related marketing, promotion, distribution, sale, and licensing of music created by such recording artists; markets its music catalog through compilations and reissuances of previously released music and video titles, as well as previously unreleased materials; and conducts its operation primarily through a collection of record labels, such as Warner Records and Atlantic Records, as well as Asylum, Big Beat, Canvasback, East West, Erato, FFRR, Fueled by Ramen, Nonesuch, Parlophone, Reprise, Roadrunner, Sire, Spinnin’ Records, Warner Classics, and Warner Music Nashville. This segment markets, distributes, and sells music and video products to retailers and wholesale distributors; independent labels to retail and wholesale distributors; and various distribution centers and ventures, as well as retail outlets, online physical retailers, streaming services, and download services. The Music Publishing segment owns and acquires rights to approximately one million musical compositions comprising pop hits, American standards, folk songs, and motion picture and theatrical compositions. Its catalog includes approximately 100,000 songwriters and composers; and various genres, including pop, rock, jazz, classical, country, R&B, hip-hop, rap, reggae, Latin, folk, blues, symphonic, soul, Broadway, electronic, alternative, and gospel. This segment also administers the music and soundtracks of various third-party television and film producers and studios. The company was founded in 1929 and is headquartered in New York, New York.

Sector Overview

Warner Music is included in the Entertainment according to GICS (global industry classification standard). The Entertainment industry, which is part of the Communication Services sector, includes Movies & Entertainment and Interactive Home Entertainment. Warner Music's industry and sector affiliation are expected to positively boost their relative likelihood to overperform the market looking forward, as they should benefit significantly from the macroeconomic environment we see now.

Fundamental Highlights


Parameter Value Change Score
Assets 7.7B -1.1% 79
Liabilities 7.5B -1.1% 68
Price to Book 80.4 -36.5% 63
Cash & Equivalents 345.0M -10.4% 60
Equity 156.0M 1.3% 60
EBITDA 1.1B -0.8% 68
Total Revenues 5.8B 1.6% 68
Parameter Value Change Score
Return on Equity 325.8 8.0% 67
Net Cashflow -97.0M 52.2% 74
Capital Expenditure -132.0M -12.8% 50
Asset Turnover 0.8 0.7% 65
Free Cashflow Per Share 0.5 346.1% 97
* All values are TTM

The below chart reflects Warner Music's birds-eye view on its performance with respect to its peers, the company's fillings as reported or to a similar industry, market cap, and country of origin. While Warner Music's peer average final assessment score stands on 71, Warner Music's score is 74.

  •  WMG
  •  Peers average
Name Market Cap Balance Sheet Income Statement Cash Flow Rating Final Assessment mc_sort Hidden
Netflix, Inc. 136.0B 89 63 81
Strong Buy
87
87 0 1
Activision Blizzard, Inc. 57.9B 62 61 66
Hold
63
63 1 1
NetEase, Inc. 44.1B 81 79 72
Strong Buy
86
86 2 1
Electronic Arts Inc. 36.1B 74 83 53
Hold
76
76 3 1
Warner Bros. Discovery, Inc. 27.7B 52 69 64
Hold
61
61 4 1
Take-Two Interactive Software, Inc. 17.7B 72 59 44
Underperform
59
59 5 1
Formula One Group 14.1B 74 82 59
Hold
74
74 6 1
Activision, Inc. 9.5B 87 83 73
Strong Buy
87
87 7 1
Roku, Inc. 8.3B 52 43 52
Underperform
43
43 8 1
Bilibili Inc. 6.8B 66 77 76
Buy
79
79 9 1
Playtika Holding Corp. 3.4B 87 61 50
Hold
71
71 10 1
iQIYI, Inc. 2.4B 51 94 79
Buy
80
80 11 1
SciPlay Corporation 1.9B 82 57 56
Hold
69
69 12 1
The Liberty Braves Group 1.7B 80 81 95
Strong Buy
95
95 13 1
DoubleDown Interactive Co., Ltd. 441.5M 74 88 63
Buy
84
84 14 1
DouYu International Holdings Limited 415.9M 77 97 64
Strong Buy
90
90 15 1
The Walt Disney Company 178.5B 68 67 71
Hold
72
72 16 1
Sea Limited 32.8B 77 56 47
Hold
62
62 17 1
Roblox Corporation 19.1B 60 51 49
Underperform
50
50 18 1
Live Nation Entertainment, Inc. 16.5B 69 81 60
Hold
76
76 19 1
Spotify Technology S.A. 15.3B 60 40 68
Underperform
52
52 20 1
Tencent Music Entertainment Group 11.9B 78 88 63
Buy
86
86 21 1
Endeavor Group Holdings, Inc. 10.3B 53 62 61
Underperform
56
56 22 1
Viacom Inc. 9.9B 53 54 60
Underperform
51
51 23 1
World Wrestling Entertainment, Inc. 5.9B 80 59 57
Hold
69
69 24 1
Madison Square Garden Sports Corp. 4.0B 57 68 73
Hold
68
68 25 1
AMC Entertainment Holdings, Inc. 3.7B 57 71 58
Hold
62
62 26 1
Manchester United plc 3.6B 87 71 82
Strong Buy
86
86 27 1
Lions Gate Entertainment Corp. 1.7B 93 52 59
Hold
74
74 28 1
Madison Square Garden Entertainment Corp. 1.7B 46 83 55
Hold
61
61 29 1
Cinemark Holdings, Inc. 1.6B 60 80 74
Hold
75
75 30 1
Nexters Inc. 1.3B 79 87 57
Buy
79
79 31 1
IMAX Corporation 945.4M 54 50 84
Hold
61
61 32 1
HUYA Inc. 653.8M 61 78 65
Hold
71
71 33 1
Eros International Plc 551.3M 57 67 78
Hold
66
66 34 1
PLAYSTUDIOS, Inc. 542.9M 67 49 71
Hold
62
62 35 1
The Marcus Corporation 511.7M 63 73 67
Hold
71
71 36 1
Skillz Inc. 411.4M 73 87 62
Buy
82
82 37 1
Reservoir Media, Inc. 406.8M 82 63 72
Buy
79
79 38 1
Gravity Co., Ltd. 288.9M 67 69 66
Hold
69
69 39 1
Loop Media, Inc. 225.0M 91 60 49
Hold
69
69 40 1

Macro Environment

Neutral
72

Typically, the stock market in United States will react to recent economic events, as well as be influenced by the sentiment in other major economies around the world. Our assessment is that these two events may influence global market sentiment. On the negative side we have the strengthening of the dollar, and on the positive side we have the US recession fears are decreasing.

Positive US recession fears are decreasing

In the US, gross domestic product (GDP) increased by 2.6%, compared to economists' expectations of 2.4%. In recent years, US exports have grown and government spending has decreased, leading to growth. In addition, a crucial indicator of underlying inflation monitored by the Federal Reserve, the personal consumption expenditures price index excluding food and energy, increased 0.5% in the past month. From a year ago, the gauge was up 5.1%, a pickup from the prior month, though slightly below economists’ forecasts. In light of the US's previous two quarters' negative statistics, this was good news, as it gave a sense of comfort that the recession wasn't approaching the country as quickly as previously anticipated.

Negative strengthening of the dollar

Many investors were surprised by the high CPI numbers in the US, resulting in a strengthening dollar index, since interest rates are expected to continue to rise at an even steeper pace than expected. In light of the fact that many companies sell their goods and services outside the US, the strengthening of the dollar could be a difficult headwind for them. The exchange rate losses will continue to occur if the dollar continues to strengthen, with the continuation of hot data from the American economy as well as the Fed's hawkish tone and the continuation of interest rate increases.

Besides the events we mentioned, there are also specific events related to the Media & Entertainment industry of which Warner Music Group Corp. is a part. As a result, we believe that the US entering a recession may cloud the sector's shares in the near time future.

Negative US entering a recession

In light of the high inflation and significant monetary policy the Fed is taking in the US, there are increasing signs of growing chances of the US entering a recession. A recession in the US could lead to a sharp chain reaction in the rest of the world's leading economies as well. Historically, the Media & Entertainment industry has been hit hard in recession times due to a sharp drop in demand and hurting corporate revenues and profits.

In considering the current macro environment and the risks that might affect Warner Music Group Corp. stock, we came to the conclusion that recent events aren't likely to affect the company's performance in the short term, and thus rated Warner Music Group Corp. macro environment with the score of 72.

Technical Analysis

When trying to optimize the timing of an investment, it's critical to analyze whether the stock looks overbought or oversold, and in which direction the momentum is moving. Warner Music's stock is now priced above its 5-day, 50-day, and 200-day moving average, while its MACD (moving average convergence divergence) indicates that the stock's price movement momentum is strengthening. Historically, this is a positive setup in the near, medium, and long-term. In particular, many institutional investors keep close watch of the 200-day moving average. Meanwhile, looking at the Stochastic Oscillator and RSI (relative strength index), Warner Music's stock indicates that it's likely oversold. Overall, these technical indicators signal positive upward momentum. Therefore, this stock received a cumulative TA (technical analysis) score of 78.

Bullish 78
Close Price 34.27
52W Low 22.35
52W High 44.45
5D MA 32.91
50D MA 26.21
200D MA 29.37
MACD 1.93
RSI 0.6
STOCH 100.0

Balance Sheet Analysis

At a high level, Warner Music delivered stable balance sheet metrics this period. Warner Music's balance sheet metrics didn't highlight too many outstanding numbers, for either the good or the bad. Warner Music assets on their balance sheet, moved to 7.7B, which is a -1.1% change from the last period. These results, specifically in contrast to their industry peers' performance, should support an upswing in the company's stock price. The company's asset component, therefore, received a grade of 79. Also, Warner Music is doing a good job of keeping its liabilities under control and growing intelligently. At filing, their liabilities were 7.5B, representing -1.1% change from the previous period. These liabilities changes appear balanced compared to their peers and project the message that management is capable and focused on balancing asset growth, resource allocation, and growing liabilities. These results statistically lead to positive movement in stock prices, so we rated its liabilities movement component 68. However, one discouraging result, Cash & Equivalents, stood out. Warner Music reported concerning cash and cash equivalents metrics in this filing. Specifically, they reported that cash and cash equivalents were 345.0M, representing a -10.4% change from the last period. This performance is significantly less impressive than its peers and competitors. Its cash and cash equivalents movement, therefore, received a grade of 60. Its balance sheet received an overall score of 74.

Parameter Value Change Score
Assets 7.7B -1.1% 79
Liabilities 7.5B -1.1% 68
Price to Book 80.4 -36.5% 63
Cash & Equivalents 345.0M -10.4% 60
Equity 156.0M 1.3% 60
* All values are TTM

The below chart describes Warner Music's performance as reflected on its balance sheet with respect to its peers. While Warner Music received a balance sheet score of 74, the average of its peers stands on 70.

  •  WMG
  •  Peers average
Name Market Cap Liabilities Movement Asset Change Equity/Intangibles Adjustments Cash & Equivalents Book Value Momentum Balance Sheet mc_sort Hidden
Netflix, Inc. 136.0B 60.0 74.0 60.0 76.0 93.0 89 0 1
Activision Blizzard, Inc. 57.9B 55.0 68.0 59.0 44.0 72.0 62 1 1
NetEase, Inc. 44.1B 68.0 65.0 86.0 91.0 72.0 81 2 1
Electronic Arts Inc. 36.1B 72.0 68.0 87.0 45.0 80.0 74 3 1
Warner Bros. Discovery, Inc. 27.7B 58.0 64.0 49.0 61.0 50.0 52 4 1
Take-Two Interactive Software, Inc. 17.7B 58.0 85.0 43.0 84.0 50.0 72 5 1
Formula One Group 14.1B 78.0 70.0 49.0 56.0 73.0 74 6 1
Activision, Inc. 9.5B 88.0 78.0 71.0 96.0 59.0 87 7 1
Roku, Inc. 8.3B 61.0 62.0 44.0 66.0 47.0 52 8 1
Bilibili Inc. 6.8B 51.0 69.0 46.0 94.0 55.0 66 9 1
Playtika Holding Corp. 3.4B 76.0 73.0 99.0 79.0 74.0 87 10 1
iQIYI, Inc. 2.4B 53.0 66.0 38.0 63.0 48.0 51 11 1
SciPlay Corporation 1.9B 74.0 68.0 89.0 61.0 83.0 82 12 1
The Liberty Braves Group 1.7B 44.0 77.0 61.0 97.0 64.0 80 13 1
DoubleDown Interactive Co., Ltd. 441.5M 60.0 71.0 63.0 94.0 59.0 74 14 1
DouYu International Holdings Limited 415.9M 68.0 66.0 86.0 82.0 69.0 77 15 1
The Walt Disney Company 178.5B 71.0 60.0 59.0 56.0 77.0 68 16 1
Sea Limited 32.8B 74.0 65.0 40.0 89.0 77.0 77 17 1
Roblox Corporation 19.1B 79.0 56.0 40.0 66.0 60.0 60 18 1
Live Nation Entertainment, Inc. 16.5B 71.0 68.0 56.0 51.0 74.0 69 19 1
Spotify Technology S.A. 15.3B 67.0 63.0 49.0 72.0 55.0 60 20 1
Tencent Music Entertainment Group 11.9B 68.0 70.0 83.0 71.0 73.0 78 21 1
Endeavor Group Holdings, Inc. 10.3B 59.0 47.0 52.0 39.0 80.0 53 22 1
Viacom Inc. 9.9B 77.0 63.0 76.0 72.0 51.0 53 23 1
World Wrestling Entertainment, Inc. 5.9B 65.0 50.0 64.0 94.0 90.0 80 24 1
Madison Square Garden Sports Corp. 4.0B 58.0 68.0 41.0 56.0 58.0 57 25 1
AMC Entertainment Holdings, Inc. 3.7B 62.0 65.0 62.0 43.0 63.0 57 26 1
Manchester United plc 3.6B 69.0 91.0 50.0 90.0 57.0 87 27 1
Lions Gate Entertainment Corp. 1.7B 69.0 99.0 44.0 93.0 61.0 93 28 1
Madison Square Garden Entertainment Corp. 1.7B 72.0 59.0 42.0 39.0 51.0 46 29 1
Cinemark Holdings, Inc. 1.6B 76.0 66.0 44.0 58.0 55.0 60 30 1
Nexters Inc. 1.3B 73.0 66.0 53.0 96.0 78.0 79 31 1
IMAX Corporation 945.4M 59.0 62.0 76.0 47.0 58.0 54 32 1
HUYA Inc. 653.8M 68.0 62.0 54.0 52.0 66.0 61 33 1
Eros International Plc 551.3M 66.0 66.0 52.0 62.0 54.0 57 34 1
PLAYSTUDIOS, Inc. 542.9M 72.0 62.0 50.0 63.0 69.0 67 35 1
The Marcus Corporation 511.7M 75.0 63.0 57.0 37.0 74.0 63 36 1
Skillz Inc. 411.4M 72.0 77.0 42.0 92.0 49.0 73 37 1
Reservoir Media, Inc. 406.8M 59.0 83.0 67.0 93.0 60.0 82 38 1
Gravity Co., Ltd. 288.9M 74.0 64.0 54.0 59.0 73.0 67 39 1
Loop Media, Inc. 225.0M 61.0 72.0 59.0 84.0 96.0 91 40 1

Income Statement Analysis

Overall, using Warner Music's published numbers as indicators of management's priorities and execution, there is a high likelihood of continued income statement mediocrity going into the upcoming quarters. Warner Music's management was effective in improving its EBIDTA, which now sits at 1.1B and represents a -0.8% change from the last reporting period. Companies in the same industry and market capitalization are typically affected by this parameter by up to 27.7%. The company is headed in the right direction regarding EBITDA, exhibiting efficient capital controls and strong overall financial performance. Consequently, their EBITDA movement received a grade of 68. That said, one metric, Return Factors, stood out as particularly concerning. Return factors metrics and ratios were disappointing in this report. Warner Music reported a return on equity (ROE) ratio of 325.8, representing a change of 8.0% from the last report.change of 8.0% from the previous period. This metric might have a 3.3 percent impact on companies in the same industry and with the same market capitalization. These numbers show that management has been unsuccessful in fostering appropriate growth related to return on assets and return on equity momentum relative to their peers. Therefore, their return factors component earned a score of 67. Therefore, we scored the companie's income statement a 70.

Parameter Value Change Score
EBITDA 1.1B -0.8% 68
Total Revenues 5.8B 1.6% 68
Return on Equity 325.8 8.0% 67
* All values are TTM

The below chart describes Warner Music's performance as reflected on its income statement with respect to its peers. While Warner Music received a income statement score of 70 , the average of its peers stands on 69.

  •  WMG
  •  Peers average
Name Market Cap Revenue Momentum Earning Movement Return Factors Momentum Income Statement mc_sort Hidden
Netflix, Inc. 136.0B 69.0 58.0 58.0 63 0 1
Activision Blizzard, Inc. 57.9B 92.0 46.0 50.0 61 1 1
NetEase, Inc. 44.1B 59.0 83.0 83.0 79 2 1
Electronic Arts Inc. 36.1B 73.0 83.0 78.0 83 3 1
Warner Bros. Discovery, Inc. 27.7B 38.0 83.0 38.0 69 4 1
Take-Two Interactive Software, Inc. 17.7B 40.0 68.0 39.0 59 5 1
Formula One Group 14.1B 44.0 91.0 94.0 82 6 1
Activision, Inc. 9.5B 43.0 93.0 40.0 83 7 1
Roku, Inc. 8.3B 59.0 38.0 37.0 43 8 1
Bilibili Inc. 6.8B 58.0 82.0 72.0 77 9 1
Playtika Holding Corp. 3.4B 77.0 54.0 49.0 61 10 1
iQIYI, Inc. 2.4B 89.0 91.0 92.0 94 11 1
SciPlay Corporation 1.9B 54.0 56.0 63.0 57 12 1
The Liberty Braves Group 1.7B 72.0 82.0 81.0 81 13 1
DoubleDown Interactive Co., Ltd. 441.5M 90.0 84.0 70.0 88 14 1
DouYu International Holdings Limited 415.9M 95.0 92.0 91.0 97 15 1
The Walt Disney Company 178.5B 63.0 65.0 71.0 67 16 1
Sea Limited 32.8B 41.0 52.0 85.0 56 17 1
Roblox Corporation 19.1B 79.0 40.0 42.0 51 18 1
Live Nation Entertainment, Inc. 16.5B 38.0 96.0 78.0 81 19 1
Spotify Technology S.A. 15.3B 50.0 37.0 37.0 40 20 1
Tencent Music Entertainment Group 11.9B 91.0 83.0 83.0 88 21 1
Endeavor Group Holdings, Inc. 10.3B 92.0 45.0 70.0 62 22 1
Viacom Inc. 9.9B 83.0 54.0 64.0 54 23 1
World Wrestling Entertainment, Inc. 5.9B 53.0 59.0 63.0 59 24 1
Madison Square Garden Sports Corp. 4.0B 76.0 62.0 76.0 68 25 1
AMC Entertainment Holdings, Inc. 3.7B 50.0 77.0 71.0 71 26 1
Manchester United plc 3.6B 55.0 76.0 51.0 71 27 1
Lions Gate Entertainment Corp. 1.7B 82.0 39.0 37.0 52 28 1
Madison Square Garden Entertainment Corp. 1.7B 48.0 93.0 91.0 83 29 1
Cinemark Holdings, Inc. 1.6B 43.0 90.0 92.0 80 30 1
Nexters Inc. 1.3B 43.0 92.0 65.0 87 31 1
IMAX Corporation 945.4M 53.0 49.0 46.0 50 32 1
HUYA Inc. 653.8M 95.0 67.0 72.0 78 33 1
Eros International Plc 551.3M 53.0 66.0 80.0 67 34 1
PLAYSTUDIOS, Inc. 542.9M 76.0 37.0 39.0 49 35 1
The Marcus Corporation 511.7M 49.0 79.0 93.0 73 36 1
Skillz Inc. 411.4M 97.0 80.0 68.0 87 37 1
Reservoir Media, Inc. 406.8M 59.0 64.0 53.0 63 38 1
Gravity Co., Ltd. 288.9M 78.0 68.0 57.0 69 39 1
Loop Media, Inc. 225.0M 37.0 66.0 69.0 60 40 1

Cash Flow Analysis

Overall, Warner Music's critical cash flow metrics appear to signal strong support and a high likelihood of positive growth. Free cash flow numbers published by Warner Music were 0.5, which was a 346.1% change from the previous filing. Companies in the same industry and market capitalization are typically affected by this parameter by up to 3.9%. The company's free cash flow metrics are especially strong compared to its peers. Management seems to balance cash flow management, asset growth, and resource allocations in general. Consequently, their free cash flow movement received a grade of 97. Also, Warner Music presents exciting net cash flow numbers for its recent financial release, illustrated by a net cash flow of -97.0M, which is a change of 52.2% from the last filing. The company is headed in the right direction regarding business priorities, exhibiting prudent net cash flow management and growth. Hence, its net cash flow earned a score of 74. On the other hand, Capital Expenditure, jumped out as looking rather underwhelming. Warner Music's published capital expenditures (CapEx) numbers were discouraging and reflected management's unbalanced growth strategy. Warner Music recorded CapEx of -132.0M, which represents a -12.8% change from the previous report. The company's disappointing CapEx growth is expected to stunt the momentum they hoped for this period. Its CapEx movement, therefore, received a grade of 50. Its cash flow, therefore, earned a score of 73.

Parameter Value Change Score
Net Cashflow -97.0M 52.2% 74
Capital Expenditure -132.0M -12.8% 50
Asset Turnover 0.8 0.7% 65
Free Cashflow Per Share 0.5 346.1% 97
* All values are TTM

The below chart describes Warner Music's performance as reflected on its cash flow with respect to its peers. While Warner Music received a cash flow score of 73, the average of its peers stands on 66.

  •  WMG
  •  Peers average
Name Market Cap Cashflow Momentum Free Cashflow Growth Capital Expenditure Growth Assets Factors Momentum Cash Flow mc_sort Hidden
Netflix, Inc. 136.0B 83.0 97.0 89.0 51.0 81 0 1
Activision Blizzard, Inc. 57.9B 63.0 57.0 85.0 67.0 66 1 1
NetEase, Inc. 44.1B 74.0 78.0 64.0 68.0 72 2 1
Electronic Arts Inc. 36.1B 54.0 59.0 63.0 57.0 53 3 1
Warner Bros. Discovery, Inc. 27.7B 65.0 43.0 42.0 95.0 64 4 1
Take-Two Interactive Software, Inc. 17.7B 45.0 39.0 45.0 75.0 44 5 1
Formula One Group 14.1B 70.0 41.0 37.0 58.0 59 6 1
Activision, Inc. 9.5B 96.0 92.0 55.0 62.0 73 7 1
Roku, Inc. 8.3B 56.0 37.0 43.0 77.0 52 8 1
Bilibili Inc. 6.8B 69.0 69.0 74.0 94.0 76 9 1
Playtika Holding Corp. 3.4B 51.0 51.0 81.0 45.0 50 10 1
iQIYI, Inc. 2.4B 85.0 86.0 41.0 78.0 79 11 1
SciPlay Corporation 1.9B 66.0 51.0 43.0 56.0 56 12 1
The Liberty Braves Group 1.7B 84.0 96.0 92.0 95.0 95 13 1
DoubleDown Interactive Co., Ltd. 441.5M 62.0 57.0 64.0 76.0 63 14 1
DouYu International Holdings Limited 415.9M 69.0 69.0 74.0 46.0 64 15 1
The Walt Disney Company 178.5B 72.0 58.0 70.0 74.0 71 16 1
Sea Limited 32.8B 45.0 66.0 45.0 45.0 47 17 1
Roblox Corporation 19.1B 58.0 40.0 40.0 60.0 49 18 1
Live Nation Entertainment, Inc. 16.5B 64.0 50.0 52.0 71.0 60 19 1
Spotify Technology S.A. 15.3B 60.0 50.0 94.0 81.0 68 20 1
Tencent Music Entertainment Group 11.9B 61.0 71.0 74.0 66.0 63 21 1
Endeavor Group Holdings, Inc. 10.3B 64.0 49.0 50.0 76.0 61 22 1
Viacom Inc. 9.9B 64.0 48.0 72.0 62.0 60 23 1
World Wrestling Entertainment, Inc. 5.9B 59.0 48.0 42.0 81.0 57 24 1
Madison Square Garden Sports Corp. 4.0B 73.0 80.0 66.0 75.0 73 25 1
AMC Entertainment Holdings, Inc. 3.7B 53.0 52.0 51.0 95.0 58 26 1
Manchester United plc 3.6B 85.0 95.0 51.0 73.0 82 27 1
Lions Gate Entertainment Corp. 1.7B 50.0 72.0 97.0 60.0 59 28 1
Madison Square Garden Entertainment Corp. 1.7B 50.0 47.0 50.0 94.0 55 29 1
Cinemark Holdings, Inc. 1.6B 75.0 72.0 71.0 69.0 74 30 1
Nexters Inc. 1.3B 69.0 40.0 43.0 40.0 57 31 1
IMAX Corporation 945.4M 85.0 91.0 48.0 90.0 84 32 1
HUYA Inc. 653.8M 69.0 69.0 74.0 48.0 65 33 1
Eros International Plc 551.3M 74.0 81.0 56.0 78.0 78 34 1
PLAYSTUDIOS, Inc. 542.9M 88.0 66.0 38.0 52.0 71 35 1
The Marcus Corporation 511.7M 70.0 53.0 37.0 93.0 67 36 1
Skillz Inc. 411.4M 74.0 76.0 40.0 45.0 62 37 1
Reservoir Media, Inc. 406.8M 81.0 87.0 43.0 58.0 72 38 1
Gravity Co., Ltd. 288.9M 71.0 70.0 48.0 50.0 66 39 1
Loop Media, Inc. 225.0M 55.0 57.0 38.0 46.0 49 40 1

This report, prepared and provided by Deshe Labs Ltd ("Deshe"), is intended for general guidance and information purposes only and under no circumstances is tailored to a specific factor or variable related to its reader or intended to be used, construed, or considered as financial or investment advice, an offer, a solicitation of any offer, a recommendation, or an offer to invest in, sell or buy the securities mentioned in this report or other form of a financial asset or as a marketing communication under FCA Rules. For the full disclaimer, click here.