Warner Music Group reported fiscal second-quarter revenue of $1.5 billion, up 7 percent from a year ago, and net income of $96 million, up from $37 million a year ago. While both numbers saw a jump, the company reported earnings per share of 18 cents per share, below Wall Street expectations of 20 cents.
The bottom-line results were driven by a strong operating performance — $12 million in savings from a March 2023 restructuring plan — and the impact of exchange rates on the company’s Euro-denominated debt, which led to a gain of $21 million in the quarter compared to a loss of $20 million in the prior-year quarter.
“Our performance in the quarter was driven by an acceleration in Recorded Music subscription streaming growth and continued momentum in music publishing,” said Bryan Castellani, CFO of Warner Music. “Encouraged by the continued growth in engagement and value of music, we remain focused on delivering on our strategy and driving long-term shareholder value.
The bottom-line results were driven by a strong operating performance — $12 million in savings from a March 2023 restructuring plan — and the impact of exchange rates on the company’s Euro-denominated debt, which led to a gain of $21 million in the quarter compared to a loss of $20 million in the prior-year quarter.
“Our performance in the quarter was driven by an acceleration in Recorded Music subscription streaming growth and continued momentum in music publishing,” said Bryan Castellani, CFO of Warner Music. “Encouraged by the continued growth in engagement and value of music, we remain focused on delivering on our strategy and driving long-term shareholder value.
- 5/9/2024
- by Caitlin Huston
- The Hollywood Reporter - Movie News
Jarret Myer, Rich Antoniello and will.i.am have formed Uproxx Studios, after acquiring Uproxx, HipHopDX, Dime Magazine and other media assets from Warner Music Group.
The studio will also have the exclusive license to represent Warner Music Group’s YouTube inventory of stars for all media sales in the United States. Myer, co-founder of Uproxx Media, will serve as incoming CEO of the studio, while will.i.am will serve as chief visionary officer.
“We’re doubling down on growth,” Myer said. “Expect significant investments in our brands, team, and the experiences we offer – both creators and audiences alike.”
In his position, the company said will.i.am will bring “his star power, Futurism and tech expertise.” The company will also partner with software company Fyi to use AI technology and Fyi radio. Fyi’s AI-powered platform will have its own vertical within Uproxx Studios.
“Innovation is in our DNA,” will.
The studio will also have the exclusive license to represent Warner Music Group’s YouTube inventory of stars for all media sales in the United States. Myer, co-founder of Uproxx Media, will serve as incoming CEO of the studio, while will.i.am will serve as chief visionary officer.
“We’re doubling down on growth,” Myer said. “Expect significant investments in our brands, team, and the experiences we offer – both creators and audiences alike.”
In his position, the company said will.i.am will bring “his star power, Futurism and tech expertise.” The company will also partner with software company Fyi to use AI technology and Fyi radio. Fyi’s AI-powered platform will have its own vertical within Uproxx Studios.
“Innovation is in our DNA,” will.
- 4/24/2024
- by Caitlin Huston
- The Hollywood Reporter - Movie News
Josh Flagg, one of real estate’s most recognizable personalities thanks to his long-running presence on Bravo’s Million Dollar Listing Los Angeles, has announced that he’s started a media business.
The new Estate Media — launched with former Amazon Prime Video and Roku content-acquisition exec Griff O’Brien and Andrew Shanfeld, co-founder of real estate private equity firm Carolwood Equities — launched with a roster of more than 20 content creators and agents who have built their own brands (and a combined 25 million followers) by focusing on the world of real estate. They range from Flagg’s fellow Million Dollar Listing star Tracy Tutor of Douglas Elliman to agents who have gained followings on TikTok, like Atlanta’s Glennda Baker (with 878,000 followers) and L.A.’s Aaron Grushow (with 1.4 million followers).
“Estate Media is a real-estate media company leveraging the personalities that start, own and define conversation in the real estate industry...
The new Estate Media — launched with former Amazon Prime Video and Roku content-acquisition exec Griff O’Brien and Andrew Shanfeld, co-founder of real estate private equity firm Carolwood Equities — launched with a roster of more than 20 content creators and agents who have built their own brands (and a combined 25 million followers) by focusing on the world of real estate. They range from Flagg’s fellow Million Dollar Listing star Tracy Tutor of Douglas Elliman to agents who have gained followings on TikTok, like Atlanta’s Glennda Baker (with 878,000 followers) and L.A.’s Aaron Grushow (with 1.4 million followers).
“Estate Media is a real-estate media company leveraging the personalities that start, own and define conversation in the real estate industry...
- 9/20/2023
- by Degen Pener
- The Hollywood Reporter - Movie News
‘Fate of a Sport’ From Executive Producer LeBron James Unveils First Trailer Before Tribeca Premiere
“Fate of a Sport,” premiering at the 2022 Tribeca Film Festival, has unveiled its first trailer exclusively to Variety.
Covering the world of professional lacrosse and one of its most controversial and high-profile stars, Paul Rabil, the film deals in much more than triumph on the pitch — encompassing millions in capital fundraising, talent poaching and lawsuits from legacy athletic clubs, all against the backdrop of a global pandemic.
“Even in the regular lacrosse league, guys still have to have a second job,” a narrator explains in the clip, alluding to the fact that professional lacrosse is nowhere near as well-funded or rewarding for its players on the national stage. So Rabil and his brother Mike decided to break ranks and potentially sacrifice Paul’s decorated career to launch a league of their own (the Premier Lacrosse League).
Directed by Michael Doneger and written by Dan Crane, the project features executive producers LeBron James,...
Covering the world of professional lacrosse and one of its most controversial and high-profile stars, Paul Rabil, the film deals in much more than triumph on the pitch — encompassing millions in capital fundraising, talent poaching and lawsuits from legacy athletic clubs, all against the backdrop of a global pandemic.
“Even in the regular lacrosse league, guys still have to have a second job,” a narrator explains in the clip, alluding to the fact that professional lacrosse is nowhere near as well-funded or rewarding for its players on the national stage. So Rabil and his brother Mike decided to break ranks and potentially sacrifice Paul’s decorated career to launch a league of their own (the Premier Lacrosse League).
Directed by Michael Doneger and written by Dan Crane, the project features executive producers LeBron James,...
- 5/12/2022
- by Matt Donnelly
- Variety Film + TV
Updated with details from press conference: Buzzfeed founder and CEO Jonah Peretti and Adam Rothstein, executive chairman of the Spac that’s taking it public, both said they see many more acquisitions in the company’s future.
“We are hoping to really build an M&a machine,” said Rothstein of the special purpose acquisition company 890 Fifth Avenue Partners. The deal announced today included BuzzFeed’s acquisition of Complex Networks for $300 million.
“There will be more acquisitions. There are more exciting companies out there that we want to pursue,” agreed Peretti. They spoke at a press conference announcing their merger.
Neither would comment on potential targets. “We are not going to buy Viacom, I can confirm that,” Peretti joked.
Digital publisher Group Nine formed a Spac to hunt for companies to buy. Vice Media is said to be merging with a Spac itself. SPACs are formed by investors and executives and...
“We are hoping to really build an M&a machine,” said Rothstein of the special purpose acquisition company 890 Fifth Avenue Partners. The deal announced today included BuzzFeed’s acquisition of Complex Networks for $300 million.
“There will be more acquisitions. There are more exciting companies out there that we want to pursue,” agreed Peretti. They spoke at a press conference announcing their merger.
Neither would comment on potential targets. “We are not going to buy Viacom, I can confirm that,” Peretti joked.
Digital publisher Group Nine formed a Spac to hunt for companies to buy. Vice Media is said to be merging with a Spac itself. SPACs are formed by investors and executives and...
- 6/24/2021
- by Jill Goldsmith
- Deadline Film + TV
Complex Networks has named former Bauer Media Group executive Christian Baesler its new president.
In this newly-created role, Baesler will oversee day-to-day operations at the Hearst and Verizon-owned youth culture media company, whose portfolio of brands includes Complex, First We Feast, Rated Red, Sole Collector, and Pigeons & Planes. Complex currently produces 30 series that generate 1.2 billion monthly video views, with breakthrough hits like Sneaker Shopping, Hot Ones, and The Burger Show. Baesler, who will be tasked with growing these brands, will be based out of Complex’s New York headquarters and report to CEO Rich Antoniello.
Visit Tubefilter for more great stories.
In this newly-created role, Baesler will oversee day-to-day operations at the Hearst and Verizon-owned youth culture media company, whose portfolio of brands includes Complex, First We Feast, Rated Red, Sole Collector, and Pigeons & Planes. Complex currently produces 30 series that generate 1.2 billion monthly video views, with breakthrough hits like Sneaker Shopping, Hot Ones, and The Burger Show. Baesler, who will be tasked with growing these brands, will be based out of Complex’s New York headquarters and report to CEO Rich Antoniello.
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- 3/30/2018
- by Geoff Weiss
- Tubefilter.com
Youth-focused media company Complex Networks has named media veteran Christian Baesler to the newly created role of president.
Baesler will be charged with growing the company’s portfolio of brands – Complex, First We Feast, Rated Red, Sole Collector, and Pigeons & Planes, and report directly to CEO Rich Antoniello.
Before joining Complex Networks, Baesler spent nearly a decade at Bauer Media Group initially based at its headquarters in Hamburg. He relocated to New York to create Bauer Xcel Media, focused on growing its online brands and expanding its global digital portfolio.
Complex Networks produces more than 30 daily and weekly series across its brands, which are distributed via YouTube, Verizon, Fuse, Facebook and Msg Network among others. Its flagship shows, Sneaker Shopping and Hot Ones, have garnered millions of views.
Baesler will be charged with growing the company’s portfolio of brands – Complex, First We Feast, Rated Red, Sole Collector, and Pigeons & Planes, and report directly to CEO Rich Antoniello.
Before joining Complex Networks, Baesler spent nearly a decade at Bauer Media Group initially based at its headquarters in Hamburg. He relocated to New York to create Bauer Xcel Media, focused on growing its online brands and expanding its global digital portfolio.
Complex Networks produces more than 30 daily and weekly series across its brands, which are distributed via YouTube, Verizon, Fuse, Facebook and Msg Network among others. Its flagship shows, Sneaker Shopping and Hot Ones, have garnered millions of views.
- 3/29/2018
- by Dawn C. Chmielewski
- Deadline Film + TV
Complex Networks, the youth-culture digital media company owned by Verizon and Hearst, announced Christian Baesler to the newly created role of president.
Baesler join Complex from Bauer Media Group’s global digital division, Bauer Xcel Media, where as president he oversaw its U.K. and U.S. businesses. He’ll be based at Complex Networks’ New York headquarters, reporting to CEO Rich Antoniello, starting April 2.
At Complex Networks, Baesler will oversee day-to-day operations and is tasked with growing the company’s portfolio of brands, which include Complex, First We Feast, Rated Red, Sole Collector, and Pigeons & Planes.
“Christian is an exceptional executive with deep knowledge of the digital landscape and an impressive track record for guiding businesses to achieve their fullest potential,” Antoniello said in announcing the hire.
Baesler commented, “I’ve been following Complex’s rapid growth for years and am very impressed by what Rich and the exceptionally talented team have built.
Baesler join Complex from Bauer Media Group’s global digital division, Bauer Xcel Media, where as president he oversaw its U.K. and U.S. businesses. He’ll be based at Complex Networks’ New York headquarters, reporting to CEO Rich Antoniello, starting April 2.
At Complex Networks, Baesler will oversee day-to-day operations and is tasked with growing the company’s portfolio of brands, which include Complex, First We Feast, Rated Red, Sole Collector, and Pigeons & Planes.
“Christian is an exceptional executive with deep knowledge of the digital landscape and an impressive track record for guiding businesses to achieve their fullest potential,” Antoniello said in announcing the hire.
Baesler commented, “I’ve been following Complex’s rapid growth for years and am very impressed by what Rich and the exceptionally talented team have built.
- 3/29/2018
- by Todd Spangler
- Variety Film + TV
Complex Networks has announced a trio of promotions.
The male-focused media company, co-owned by Hearst and Verizon -- which is behind popular digital brands like food-themed First We Feast and music-centric Pigeons & Planes, as well as hit series like Hot Ones and Sneaker Shopping -- has named Cornell Brown (pictured above, left) Gm of video, Jack Erwin Gm of content, and Damien Scott (pictured above, right) editor-in-chief and VP of content and development. The announcements were made today by Complex Networks' CEO Rich Antoniello.
Visit Tubefilter for more great stories.
The male-focused media company, co-owned by Hearst and Verizon -- which is behind popular digital brands like food-themed First We Feast and music-centric Pigeons & Planes, as well as hit series like Hot Ones and Sneaker Shopping -- has named Cornell Brown (pictured above, left) Gm of video, Jack Erwin Gm of content, and Damien Scott (pictured above, right) editor-in-chief and VP of content and development. The announcements were made today by Complex Networks' CEO Rich Antoniello.
Visit Tubefilter for more great stories.
- 12/4/2017
- by Geoff Weiss
- Tubefilter.com
Since launching its YouTube channel in 2007, WatchMojo has posted more than 12,700 videos, which have collectively brought in over 8.2 billion views. Now, the prolific content producer known for its top ten lists is expanding its brand offline with a foray into the world of live events. It has announced its plan to host a gathering at YouTube Space NY on May 31st, with a series of panels, addresses, and performances on the docket.
The theme of WatchMojo’s upcoming event is “Creativity Travels: Media in the Age of the Global Stage,” and the presentation attendees will share their thoughts on how creators can stay relevant as online video expands worldwide. Panelists and speakers will include Anthony Batt of Vr company Wevr, who will deliver a keynote address, as well as Rich Antoniello of Complex Networks. Tubefilter’s own Joshua Cohen will serve as one of the panel moderators.
Tickets to the...
The theme of WatchMojo’s upcoming event is “Creativity Travels: Media in the Age of the Global Stage,” and the presentation attendees will share their thoughts on how creators can stay relevant as online video expands worldwide. Panelists and speakers will include Anthony Batt of Vr company Wevr, who will deliver a keynote address, as well as Rich Antoniello of Complex Networks. Tubefilter’s own Joshua Cohen will serve as one of the panel moderators.
Tickets to the...
- 5/23/2017
- by Sam Gutelle
- Tubefilter.com
A year and a day ago, Verizon and Hearst jointly acquired Complex, a publication known for having its finger on the pulse of millennial-oriented pop culture. Since then, the video-focused Complex Networks brand has rapidly increased the amount of content it has released. As 2017 moves along, Complex expects that production binge to continue. At a media event in New York City, Complex Networks CEO Rich Antoniello said his company plans to have 40 active shows across all its verticals by the end of the year.
The shows that will make up the Complex library will be a combination of returning hits and new programs. The former category includes Hot Ones and Sneaker Shopping, which have become breakout shows for Complex Networks and have both surpassed 100 million views on YouTube. The latter category is made up of an eclectic combination that rangers from a travel/food series starring Rick Ross’ former personal...
The shows that will make up the Complex library will be a combination of returning hits and new programs. The former category includes Hot Ones and Sneaker Shopping, which have become breakout shows for Complex Networks and have both surpassed 100 million views on YouTube. The latter category is made up of an eclectic combination that rangers from a travel/food series starring Rick Ross’ former personal...
- 4/20/2017
- by Sam Gutelle
- Tubefilter.com
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