Total quarterly income, recorded music and streaming income fell, but cost-cuts freed up money to invest in A&R and buy Tempo's music catalog.
"It’s a big step forward in our vision for greater alignment between rights holders and streaming services," says Warner Music chief Robert Kyncl.
"Deals get renegotiated all the time if they’re out of sync," says WMG's longtime general counsel. "We want to maintain the best relationships with artists and songwriters."
WMG's youngest board member talks his relationship with Atlantic's new leader and the changes across the business: "The music business should constantly evolve and innovate."
Also this week: An Oak View Group veteran joins Javitz, an Elektra Music Group mainstay launches his own firm and 19 Entertainment has a new head of music.
"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.
