Warner Music Group (WMG) Introduces Podcast, Underwater
Warner Music Group’s WMG in-house podcast network, Interval Presents, has introduced its scripted podcast, Underwater. The podcast, a romantic neo-noir thriller, reveals its cast and premise.
Centered around Nico (Jason Derulo) and Ana (Alexandra Shipp) at a luxurious island resort, the series delves deeper into their passionate yet troubled relationship, which is entangled with secrets from Nico's covert mission and Ana's hidden past.
In addition to Jason Derulo and Alexandra Shipp, the lineup features Beau Bridgland, Michael Dearie, Aneesha DuBois, Andrew Frankel, Melissa Greenspan, Alice Hunter, Jeremy Jordan, Josh Keaton, Tara Langella, Jonathan Leon, Donis Leonard Jr., Michael McGlone, Carla Renata, Giancarlo Sabogal, David Shatraw, Andre Sogliuzzo and Cameron J. Wright. This diverse ensemble lends their distinctive voices to the podcast.
The first two episodes of Underwater are set to debut on Oct 31, 2023 and will be accessible across prominent podcast platforms. New episodes will be released weekly on Tuesdays following the launch.
Warner Music Group Corp. Price and Consensus
Warner Music Group Corp. price-consensus-chart | Warner Music Group Corp. Quote
Recent Partnerships to Boost WMG’s Top-Line Growth
Warner Music Group recently entered into some notable partnerships. These joint ventures have led to the launch of 91 North Records and Deflant Records. These are set to boost the company’s top line in the upcoming quarters.
The Zacks Consensus Estimate for third-quarter fiscal 2023 earnings is pegged at 21 cents per share, which has remained unchanged in the last 30 days. The estimate for revenues is pegged at $1.48 billion, indicating year-over-year growth of 3.54%.
Warner Music Canada and Warner Music India have teamed up to establish a collaborative initiative named 91 North Records, which is aimed at providing support to artists hailing from South Asian backgrounds. This novel venture will be overseen by esteemed artist and producer Ikky, who has come onboard as creative director.
Warner Records has formally introduced Defiant Records, a collaborative effort spearheaded by Steve "Steve-O" Carless, who holds the position of president of A&R at Warner Records. This project brings together emerging producer and artist MCVERTT with rappers Bandmanrill and Sha EK, resulting in a groundbreaking fusion of Jersey Club music, New York Drill and Hip-Hop dance.
WMG is facing tough competition from Sony SONY Music, Spotify SPOT and Apple AAPL Music.
Sony has invested a considerable amount to secure ownership of independent record labels, such as AWAL, Som Livre in Brazil, Human Re-Sources, Believe and additionally acquired its remaining shares in The Orchard. This flurry of activity indicates SONY's strong commitment to enhancing artist visibility and exploring diverse avenues to boost revenue generation.
Spotify offers an extensive range of content beyond its music collection, boasting more than 82 million songs. Users can also enjoy podcasts and audiobooks on the platform. In contrast, Apple Music primarily concentrates on music, featuring a vast selection of more than 100 million songs.
Additionally, Apple Music incorporates live broadcast radio stations from various global locations for on-demand listening. However, for audiobooks and podcasts, users need to turn to Apple Books and Apple Podcasts, respectively.
Warner Music Group has shifted its focus from relying solely on celebrity influence and is now strategically targeting various elements of the value chain. The company has made investments in media platforms like HipHopDX, IMGN, Uproxx, and several others. These platforms have the potential to significantly expand WMG’s reach to a global audience of music enthusiasts.
Shares of this Zacks Rank #3 (Hold) company have declined 14.9% year to date against the Zacks Consumer Discretionary sector’s rise of 13.7% in the same period due to its partnership with TikTok for the goal of mutually benefiting WMG's artists and songwriters as well as TikTok's extensive global user community. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Apple Inc. (AAPL) : Free Stock Analysis Report
Spotify Technology (SPOT) : Free Stock Analysis Report
Warner Music Group Corp. (WMG) : Free Stock Analysis Report
Sony Corporation (SONY) : Free Stock Analysis Report
