Warner Music Group Corp. has announced its 1st quarter financial results for the period ended Dec. 31, 2020.
“Despite the impact of COVID, we generated the highest quarterly revenue in our 17-year history as a standalone company, growing 4% compared to the prior-year period, which was unaffected by COVID,” said Steve Cooper, CEO, Warner Music Group. “The strong double-digit growth in our digital revenue and direct-to-consumer business more than offset the continued disruption to our performance, merchandising, and physical revenue. We have some fantastic new music from amazing artists and songwriters on the way, and we continue to grow our investment in a new generation of talent, as well as inventing bold and memorable ways to impact global culture.”
WMG Financial Highlights:
Generated Highest Quarterly Revenue in History as a Standalone Company
Delivered Double-Digit Digital Revenue Growth Driven by Continued Momentum in Streaming
Increased Revenue Contribution from Emerging Platforms, Unlocking New Value-Creation Opportunities
Achieved Strong Year-Over-Year Growth and Margin Expansion in Key Operating Metrics
For the three months ended December 31, 2020:
Total revenue grew 6 %, or 4 % in constant currency.
Digital revenue grew 17 %, or 16 % in constant currency.
Net income was $99 million versus $122 million in the prior-year quarter.
Read the complete press release here.
BREAKING: ACM Halts Morgan Wallen’s Eligibility For 2021 Awards
/by LB CantrellMorgan Wallen. Photo: John Shearer
The Academy of Country Music announced they will halt Morgan Wallen‘s potential involvement and eligibility for this year’s ACM Awards.
“The Academy does not condone or support intolerance or behavior that doesn’t align with our commitment and dedication to diversity and inclusion,” the statement reads.
The announcement comes after Wallen’s recording contract with Big Loud Records was suspended following the surfacing of a video of the country artist saying the N-word outside his Nashville home.
The 56th ACM Awards are to take place on Sunday, April 18, 2021 on CBS. Last year Wallen was nominated for New Male Artist of the Year.
Dan + Shay To Headline Warner Showcase During CRS
/by Sarah SkatesCountry Radio Seminar has released the lineup for the third annual Warner Music Nashville Luncheon, to be held Feb. 17 at noon CT during CRS: 2021 The Virtual Experience. The event will be headlined by Dan + Shay with additional performances by Brett Eldredge, Cole Swindell, Drew Parker, Ian Munsick, Michael Ray, Robyn Ottolini, and Shy Carter.
“No matter where we are in the world, all of us at WMN remain committed to CRS and its mission to educate and connect,” said Warner Music Nashville SVP Radio Kristen Williams. “While we would love to be welcoming everyone to Nashville, we look forward to celebrating together in a new way. From GRAMMY-winning global superstars Dan + Shay to the brightest new talent, we can’t wait to bring our music into your homes.”
This year’s CRS agenda offers attendees more than 14 educational sessions, four morning networking events, two lunchtime performances, four interactive workshops, Bob Kingsley’s Acoustic Alley featuring Thomas Rhett and Guests, Amazon Music Presents: Country Heat at CRS, the annual New Faces of Country Music® Show, and Luke Bryan at the annual CRS Artist Interview, sponsored by BMI.
Registration for CRS 2021: The Virtual Experience is $199 per person and is available at www.countryradioseminar.com.
Houston Rodeo Canceled For 2021
/by LB CantrellThe Houston Livestock Show and Rodeo, a revered performance slot for country artists, has been canceled. The RODEOHOUSTON® competitions, concerts and entertainment, carnival, and other attractions and activities, were recently rescheduled for May 4 – 23, 2021, but were canceled due to the ongoing health situation.
The Junior Livestock and Horse Show competitions will still be held in March, as private events. While the Downtown Rodeo Parade, Trail Ride activities, Rodeo Uncorked! Roundup & Best Bites Competition, and the World’s Championship Bar-B-Que Contest, presented by Comcast Business, are canceled for 202; the Rodeo Run, presented by ConocoPhillips, will be held in a virtual format, with details to be announced once available.
“While we were optimistic that moving our Rodeo to May would provide a better opportunity to host our annual community event that Rodeo fans have come to love and expect, unfortunately, it has become evident that the current health situation has not improved to the degree necessary to host our event,” said Chris Boleman, president and CEO of the Houston Livestock Show and Rodeo. “While this is an extremely heartbreaking decision for our Rodeo volunteers and the larger Rodeo community, we believe this decision is in the best interest of the health and well-being of our community.”
Dates and information for the 2022 Houston Livestock Show and Rodeo will be announced at a later date.
Spotify Reports 345 Million Monthly Active Users
/by Sarah SkatesSpotify announced the results of its 4th quarter of 2020 on Wednesday (Feb. 3), reporting growth in many areas of the company.
According to CEO and founder Daniel Ek, “Despite the global uncertainty of 2020, it was a remarkable year for Spotify. Following a strong Q2 and Q3, Q4 met or exceeded our guidance by nearly every metric.”
Highlights from the quarter include:
Total Monthly Active Users grew 27 percent Y/Y to 345 million.
Premium Subscribers increased 24 percent Y/Y to 155 million.
Total revenue of €2,168 million grew 17 percent Y/Y in Q4, or 24 percent Y/Y on a constant currency basis.
Podcast consumption hours nearly doubled Y/Y and 25 percent of Monthly Active Users now engage with podcasts, up from 22 percent the previous quarter.
Additionally, Spotify’s advertising revenue outperformed its forecast.
See the complete shareholder letter here.
WMG Corp. Q1 Results: Highest Quarterly Revenue in History as Standalone Company
/by Sarah SkatesWarner Music Group Corp. has announced its 1st quarter financial results for the period ended Dec. 31, 2020.
“Despite the impact of COVID, we generated the highest quarterly revenue in our 17-year history as a standalone company, growing 4% compared to the prior-year period, which was unaffected by COVID,” said Steve Cooper, CEO, Warner Music Group. “The strong double-digit growth in our digital revenue and direct-to-consumer business more than offset the continued disruption to our performance, merchandising, and physical revenue. We have some fantastic new music from amazing artists and songwriters on the way, and we continue to grow our investment in a new generation of talent, as well as inventing bold and memorable ways to impact global culture.”
WMG Financial Highlights:
Generated Highest Quarterly Revenue in History as a Standalone Company
Delivered Double-Digit Digital Revenue Growth Driven by Continued Momentum in Streaming
Increased Revenue Contribution from Emerging Platforms, Unlocking New Value-Creation Opportunities
Achieved Strong Year-Over-Year Growth and Margin Expansion in Key Operating Metrics
For the three months ended December 31, 2020:
Total revenue grew 6 %, or 4 % in constant currency.
Digital revenue grew 17 %, or 16 % in constant currency.
Net income was $99 million versus $122 million in the prior-year quarter.
Read the complete press release here.
Brothers Osborne Frontman T.J. Osborne: “I’m Very Comfortable Being Gay”
/by Sarah SkatesT.J. Osborne (left) with bandmate and brother John Osborne.
Brothers Osborne’s T.J. Osborne sat down with TIME magazine recently to publicly discuss his sexuality for the first time. In the thoughtful article written by Sam Lansky and titled, “T.J. Osborne Is Ready to Tell His Story,” Osborne shares that he is gay, and has been out among close friends and family for years.
“I’m very comfortable being gay,” he tells TIME. “I find myself being guarded for not wanting to talk about something that I personally don’t have a problem with. That feels so strange.”
The article expresses the support of his brother and bandmate, John Osborne, despite the fact that coming out publicly could potentially have professional risks to their successful careers. “If I had to have all my money and success erased for my brother to be truly fulfilled in life,” John said, “I wouldn’t even think about it. Not for a second.”
T.J. added that he looks forward to making music without creative boundaries.
“I want to get to the height of my career being completely who I am,” T.J. tells TIME. “I mean, I am who I am, but I’ve kept a part of me muted, and it’s been stifling.”
In a video posted to his Instagram, T.J. said, “the person you know is me, now you just know more about me.”
Artists including Kacey Musgraves are standing with Brothers Osborne in support. “Others will now feel invited to the country music party for the first time,” Musgraves told the magazine. “Country music deserves a future even more honest than its past.”
More of T.J.’s peers have come out in support of him, including the following:
BREAKING: Big Loud Suspends Morgan Wallen’s Recording Contract
/by LB CantrellMorgan Wallen. Photo: John Shearer / Getty Images For Ryman Auditorium
Following the release of a video obtained by TMZ of Morgan Wallen saying the N-word outside his Nashville home, Big Loud Records has suspended Wallen’s recording contract indefinitely.
The label announced Wallen’s suspension in a Tweet, saying Republic Records supports their decision and that “such behavior will not be tolerated.”
The video was reportedly shot Sunday (Jan. 31) night by neighbors and shows him yelling profanities, including the N-word. Following the release of the video, iHeart Media, Cumulus, Spotify, Apple, CMT and other organizations have made efforts to remove Wallen’s music from their platforms.
AIMP To Host Tik Tok Webinar With Andrew Jannakos And Priscilla Block
/by Lorie HollabaughAIMP’s Nashville Chapter will host a webinar Thursday (Feb. 4) called “Tik Tok to Record Deal: The Transition From Viral Fame to Recording Artist.” The online event is at 4:30 p.m. CT and features TikTok stars Priscilla Block and Andrew Jannakos as well as their label teams from UMG Nashville and Sony Music Nashville, respectively.
The webinar will discuss the path from achieving viral fame to becoming a recording artist, and will also feature panelists Andrew Cohen (Owner & Music Manager, Cohencidence Projects), Margaret Tomlin (Dir., A&R, Sony Music Nashville), and Brian Wright (Exec. VP of A&R, Universal Music Group Nashville), as well as moderator Marissa Turk (Associate Day-to-Day Manager, SMACKSongs).
The webinar is free for AIMP members and $5 for non-members, with registration available now via Zoom.
Emily Shackelton Signs With Winsongs
/by Lorie HollabaughClockwise from left: Winsongs’ Chris DeStefano, Kirby Smith, Emily Shackelton
Songwriter Emily Shackelton has signed with Winsongs Music Publishing.
Shackelton penned Carly Pearce’s No. 1 single, “Every Little Thing,” which was recognized as one of NSAI’s 2018 Ten Songs I Wish I’d Written, and several of her songs have also been featured on TV shows like Nashville, American Idol, and Dancing With the Stars. She also won MusicRow’s 2018 Breakthrough Songwriter of the Year award, and currently serves on the NSAI board.
“We are so privileged and excited to have Emily join the Winsongs family,” said Winsongs founder, hit songwriter and producer Chris DeStefano. “She is an incredible songwriter and brings a charisma and creativity to the writer room that is truly unique.”
Hailing from Biwabik, Minnesota, Shackelton studied at Berklee College of Music, during which time she won the coveted BMI John Lennon Songwriting Competition. She later made the move to Nashville and began focusing on her songwriting, landing cuts and singles with Lauren Alaina, Runaway June, Cassadee Pope, the Civil Wars’ Joy Williams, Reba McEntire, Jennifer Nettles, Sara Evans, and more.
“I am so excited and honored to be a part of the Winsongs team!” said Shackelton. “I have admired DeStefano for years and value what he and Kirby have created. I look forward to continuing to do what I love—making music—with this incredible company.”
“Emily is a talent unlike any other,” added Creative Dir. Kirby Smith. “She has already made such a great addition to our Winsongs family. We are so thankful to have the privilege to work with her.”
Warner Music Nashville Signs Drew Parker
/by LB CantrellWarner Music Nashville announced the signing of rising country singer Drew Parker.
Already an accomplished songwriter, Parker has several major publishing credits to his name including “Lonely One” on Luke Combs’ debut Platinum record This One’s For You, Jake Owen’s No. 1 single “Homemade,” and Combs’ “1, 2 Many” and recent streaming hit “Forever After All.”
Parker’s “While You’re Gone” has quickly become a fan favorite, garnering over 15 million streams to date, and has already gained industry support as a SiriusXM The Highway’s Highway Find. He also recently landing on SiriusXM’s Future Five For 2021 list. Parker joined the first three weeks of Combs’ What You See Is What You Get tour alongside Ashley McBryde last year, with the remaining dates anticipated to resume in August.
“I’ve dreamed for nearly my whole life of signing a record deal, but even in my dreams, I never imagined I’d be able to work with a team as devoted and driven as the folks at Warner are,” said Parker. “I’m super thankful for them seeing something in me and giving this opportunity to a small town Georgia boy. I can’t wait to get back on the road and share this excitement with all of the fans who I miss so much!”
Hailing from the small town of Covington, Georgia, Parker began singing at just three years old for small church crowds. He picked up a guitar at age 14 and taught himself, pulling his inspiration from legends such as Keith Whitley, Merle Haggard, Waylon Jennings, Travis Tritt and Alan Jackson. At 18, Parker expanded his talents into piano. He relocated to Nashville in 2015, landing a publishing deal with River House / Warner Chappell just two years later in September 2017.
Parker is published by River House Artists/Sony ATV, managed by Jarrod Holley and Chris Kappy from MakeWake Artists, and is booked by Sam Forbert from CAA.