Edgar Bronfman Jr.

Warner Music Halting Venture Capital Investments

Authored by Mark Hefflinger on May 7, 2009 - 11:18am.

New York - Major label Warner Music Group (NYSE: WMG) has shelved plans for any future venture capital investments in the digital space, after it has to write off $33 million against investments in streaming music services Lala and imeem, PaidContent reported, citing CEO Edgar Bronfman Jr.'s comments to analysts on a conference call.

Warner Music Group Total Q3 Revenue Up 5%; Digital Up 39%

Authored by Mark Hefflinger on August 7, 2008 - 7:15am.

New York - Major record label Warner Music Group (NYSE: WMG) reports that third quarter revenue was up 5% from the same period a year ago, to $848 million, while digital revenues climbed 39%, to $166 million. Warner Music's digital revenues were up 1% from the first quarter of the year, and now account for about 20% of the company's total revenues; in the U.S., digital revenues made up 31.7% of total revenues.