Warner Music Group is a major music company with interests in recorded music, music publishing and artist services.
It is one of the “big three” recording companies and the third largest in the global music industry, after Universal Music Group (UMG) and Sony Music Entertainment (SME). Formerly part of Time Warner, Warner Music Group employs more than 3,500 people and has operations in more than 50 countries throughout the world.
The company owns and operates some of the largest and most successful labels in the world, including Elektra Music Group, Warner Bros. Records, Parlophone, and Atlantic Records. WMG also owns Warner/Chappell Music, one of the world’s largest music publishers.
Since August 2, 2018, WMG has expanded its business to digital media operation through its acquisition of Uproxx Media Group.
In October, 2018, Warner Music Group announced the launch of the WMG Boost seed venture fund.1 This was followed roughly a year later, with the announcement of Tempo Music Investments to seek out catalog acquisitions in both the publishing and recorded music spaces; launched with $650 million in equity and debt capacity and the support of Providence Equity Partners.2
Stu Bergen, CEO, International and Global Commercial Services, Warner Music Group, said: “More than ever before, the long-lasting value of music is being recognized outside the music industry. We’ll be devoted stewards of these amazing catalogs created by songwriters and recording artists across the globe, and WMG is very happy to be partnering with Providence in this pioneering venture.”
Josh Empson, Managing Director at Providence, said, “It is a privilege to partner again with Warner Music Group. We are excited about this innovative new relationship, which combines Providence’s investment expertise in media with WMG’s distinctive skill in working with and recognizing top artists and assets in music."
Anonymous on March 10, 2020