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Creative Industries

Warner Music Group plans to eliminate 13% of its workforce to save up to $250m by 2025; new structure at Atlantic unveiled

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Warner Music Group has announced that it has revised its strategic restructuring plan by raising to 750 the numbers of jobs that will be shed by the NASDAQ-listed company, or 13% of its workforce, mainly through its owned and operated media properties, corporate and various support functions. The initial plan disclosed at the start of the year called for 600 job losses.
In a filing with the SEC, WMG said it expected t make pre-tax cost savings of about $260 million by the end of fiscal 2025, up ...

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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).

Copyright & Regulation

Universal Music Group offered remedy to alleviate European Commission’s concerns over the acquisition of Downtown Music

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Universal Music Group has addressed concerns regarding the proposed $775 million acquisition of independent music company Downtown Music by offering an unspecified remedy to the European Commission.
UMG said the remedy proposal followed "constructive conversations" with the Commission. "We have submitted a robust remedy that comprehensively addresses the Commission's only remaining concern," said UMG in a statement. "This deal is about offering independent music entrepreneurs access to world-cl...

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Creative Industries

Sony Music Publishing signs global publishing deal with BigXthaPlug

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Sony Music Publishing has signed a worldwide publishing agreement with award-winning, multi-platinum selling breakout star BigXthaPlug, a.k.a. Xavier Landum.
Originating from Texas, BigXthaPlug covers multiple genres, from rap and hip-hop to country. His catalogue includes albums like 'Amar' (2023) and 'Take Care' (2024), and songs like 'Texas', 'Mmhmm', 'Levels' and 'The Largest'. His latest album 'I Hope You're Happy' (UnitedMasters), features collaborations with country artists like Luke Com...

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Creative Industries

Jeff Sosnow promoted to President of Warner Records Group’s Reprise Records

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Warner Records Group has promoted Jeff Sosnow to President of Reprise Records, in addition to his role as EVP of A&R for Warner Records. He will remain based in Los Angeles and report to Aaron Bay-Schuck, Co-Chairman and CEO of Warner Records Group.
In this expanded remit, Sosnow will "oversee the next chapter of Reprise — one of the most storied and artist-centered imprints in modern music — while continuing to guide A&R strategy for Warner Records," said Warner Music Group in a statem...

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