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Creative Industries

Warner Music Group CEO Steve Cooper announced he will step down in 2023

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Steve Cooper the Chief Executive of Warner Music Group, will be stepping down next year, according to an email Cooper sent to WMG employees and seen by The Wall Street Journal.

Cooper, 75, has been running WMG since 2011, after Len Blavatnik's Access Industries acquired the company. Under his leadership, Warner confirmed its status as the third largest music company in the world, and successfully took the company public on the NASDAQ stock market in June 2020.

"Mr. Cooper inherited a com...

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Emmanuel is a Washington, DC-based freelance journalist, blogger and media consultant, specialising in the entertainment business and cultural trends. He was the US editor for British music industry trade publication Music Week. Previously, he was the editor of Impact, a magazine for the music publishing community (2007-2009), the global editor of US trade publication Billboard (2003-2006), and the editor in chief of Billboard’s sister publication Music & Media (1997-2003).

Creative Industries

Universal Music Group takes a 49% share in indie music company [PIAS]

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Universal Music Group (UMG) has acquired a 49% stake in Brussels-based independent music company [PIAS]. Terms of the transaction were not disclosed.

The announcement follows the formation of the strategic global alliance between the two companies in June 2021. In a statement, the companies said that under the new agreement [PIAS] will remain "fully independent" and its founders Kenny Gates and Michel Lambot will "retain majority control of the company. In addition, UMG will not have seats ...

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Creative Industries

British industry reacts to CMA’s report on the economy of music streaming

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Different segments of the British music industry have reacted to the decision from the Competition & Markets Authority to abstain from moving into a full investigation into the economics of music streaming.

The CMA found that the market worked for consumers, but did acknowledge that there were issues related to the sharing of value from music streaming, which should be addressed by policy-makers.

Here's an overview of the comments:

Paul Pacifico, CEO of the Association of Independe...

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Creative Industries

Reservoir Media joins the ICMP board

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NASDAQ-listed independent music company Reservoir Media has joined the board of ICMP, the global trade body representing the music publishing industry.

Reservoir Media's President and Chief Operating Officer Rell Lafargue will join the ICMP board, chaired by Universal Music Publishing's Jackie Alway. Reservoir was founded in 2007 and represents over 140,000 copyrights and 36,000 master recordings.

“ICMP is delighted to welcome Reservoir President and COO Rell Lafargue to our Board. ...

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