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.
The singer, who has soared to stardom with “A Bar Song (Tipsy),” claims the company is refusing to turn over key information that would allow him to buy his way out of his deal.
The changing of the guard at Atlantic Records could signal the acceleration of a generational shift — or just another sign that the old rules no longer apply.
Elliot Grainge, who has publicly criticized major labels, will now helm Atlantic Music Group. Those who have worked with him predict how that change may go.
It’s all about streaming — the artists doing the best, how it helps Warner’s catalog and CEO Robert Kyncl's insistence that Spotify is not a proxy for the industry.
Total revenue for the third fiscal quarter fell 1% as BMG's distribution deal rolls off and physical recorded music sales and merchandise fall.
