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Warner Music Group Corp. (WMG)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
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28.47-1.03 (-3.49%)
As of 1:28PM EDT. Market open.
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Previous Close29.50
Open29.48
Bid28.63 x 900
Ask28.69 x 800
Day's Range28.47 - 29.48
52 Week Range26.94 - 34.76
Volume447,814
Avg. Volume688,151
Market Cap14.52B
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateNov 25, 2020 - Nov 30, 2020
Forward Dividend & Yield0.48 (1.64%)
Ex-Dividend DateAug 24, 2020
1y Target Est33.47
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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  • GlobeNewswire

    WMG Acquisition Corp. Announces Pricing of $250 Million Additional Senior Secured Notes Offering

    NEW YORK, Oct. 19, 2020 (GLOBE NEWSWIRE) -- Warner Music Group Corp. (“Warner Music Group” or “WMG”) today announced that through its wholly owned subsidiary, WMG Acquisition Corp. (the “Company”), it has priced a private offering (the “Offering”) of $250 million aggregate principal amount of additional 3.000% Senior Secured Notes due 2031 (the “Additional Notes”). The Additional Notes will be issued at a price equal to 97.501% of their face value plus accrued interest from August 12, 2020. The initial 3.000% Senior Secured Notes due 2031 were issued in an aggregate principal amount of $550 million on August 12, 2020 (the “Original Notes”). The Offering is expected to close on November 2, 2020, subject to customary closing conditions. The Additional Notes have been offered and sold in a private offering exempt from the registration requirements of the United States Securities Act of 1933, as amended (the “Securities Act”). The Additional Notes have been offered and sold only to qualified institutional buyers pursuant to Rule 144A and to certain persons outside the United States pursuant to Regulation S, each under the Securities Act. The Company intends to use the net proceeds of the Offering to fund a portion of the aggregate cash consideration for certain acquisitions. The Company may also use the net proceeds of the Offering to redeem all or a portion of the Additional Notes at any time on one or more occasions on or prior to the fifth business day following December 18, 2020 (the “Special Optional Redemption Election Date”) by giving notice at least five business days prior to such time at the special optional redemption price equal to the issue price of the Additional Notes (excluding accrued interest for the period prior to the settlement date) plus 1% of the principal amount thereof together with accrued and unpaid interest on such Additional Notes from August 12, 2020 (or the most recent interest payment date on which interest was paid) to but excluding the redemption date, or for general corporate purposes. The Additional Notes and the Original Notes will be treated as the same series for all purposes under the indenture following the fifth business day after the Special Optional Redemption Election Date. The Additional Notes have not been registered under the Securities Act and may not be offered or sold within the United States absent registration or an applicable exemption from the registration requirements.This press release is for informational purposes only and is not an offer to sell or purchase nor the solicitation of an offer to sell or purchase securities and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which, or to any person to whom such an offer, solicitation or sale would be unlawful.About Warner Music Group With a legacy extending back over 200 years, Warner Music Group (WMG) today brings together artists, songwriters and entrepreneurs that are moving entertainment culture across the globe. Operating in more than 70 countries through a network of affiliates and licensees, WMG’s Recorded Music division includes renowned labels such as Asylum, Atlantic, Big Beat, Canvasback, Elektra, Erato, First Night, Fueled by Ramen, Nonesuch, Parlophone, Reprise, Rhino, Roadrunner, Sire, Spinnin’, Warner Records, Warner Classics and Warner Music Nashville. WMG’s music publishing arm, Warner Chappell Music, has a catalog of more than 1.4 million musical compositions spanning every musical genre, from the standards of the Great American Songbook to the biggest hits of the 21st century. Warner Music Group is also home to ADA, the independent artist and label services company, as well as consumer brands such as Songkick the live music app, EMP the merchandise e-tailer, and UPROXX the youth culture destination.This communication includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements contained herein involve risks and uncertainties that could cause actual results to differ materially from those referred to in the forward-looking statements. More information about Warner Music Group and other risks related to Warner Music Group are detailed in Warner Music Group’s most recent annual report on Form 10-K and its quarterly reports on Form 10-Q and current reports on Form 8-K as filed with the Securities and Exchange Commission. Warner Music Group does not undertake an obligation to update forward-looking statements.Warner Music Group maintains an Internet site at www.wmg.com. Warner Music Group uses its website as a channel of distribution of material Company information. Financial and other material information regarding Warner Music Group is routinely posted on and accessible at http://investors.wmg.com. In addition, you may automatically receive email alerts and other information about Warner Music Group by enrolling your email address through the “email alerts” section at http://investors.wmg.com. Warner Music Group’s website and the information posted on it or connected to it shall not be deemed to be incorporated by reference into this communication.Additional factors that may affect future results and conditions are described in Warner Music Group’s filings with the SEC, which are available at the SEC’s web site at www.sec.gov or at Warner Music Group’s website at www.wmg.com.SOURCE: WMGMedia Contact:James Steven James.Steven@wmg.comInvestor Relations Contact:Kareem Chin Kareem.Chin@wmg.com

  • GlobeNewswire

    WMG Acquisition Corp. Announces Launch of $250 Million Additional Senior Secured Notes Offering

    NEW YORK, Oct. 19, 2020 (GLOBE NEWSWIRE) -- Warner Music Group Corp. (“Warner Music Group” or “WMG”) today announced that through its wholly owned subsidiary, WMG Acquisition Corp. (the “Company”), it has commenced a private offering (the “Offering”) of $250 million aggregate principal amount of additional 3.000% Senior Secured Notes due 2031 (the “Additional Notes”). The initial 3.000% Senior Secured Notes due 2031 were issued in an aggregate principal amount of $550 million on August 12, 2020 (the “Original Notes”). The Additional Notes will be offered in a private offering exempt from the registration requirements of the United States Securities Act of 1933, as amended (the “Securities Act”). The Additional Notes will be offered only to qualified institutional buyers pursuant to Rule 144A and to certain persons outside the United States pursuant to Regulation S, each under the Securities Act. The Company intends to use the net proceeds of the Offering to fund a portion of the aggregate cash consideration for certain acquisitions. The Company may also use the net proceeds of the Offering to redeem all or a portion of the Additional Notes at any time on one or more occasions on or prior to the fifth business day following December 18, 2020 (the “Special Optional Redemption Election Date”) by giving notice at least five business days prior to such time at the special optional redemption price equal to the issue price of the Additional Notes (excluding accrued interest for the period prior to the settlement date) plus 1% of the principal amount thereof together with accrued and unpaid interest on such Additional Notes from August 12, 2020 (or the most recent interest payment date on which interest was paid) to but excluding the redemption date, or for general corporate purposes.The Additional Notes and the Original Notes will be treated as the same series for all purposes under the indenture following the fifth business day after the Special Optional Redemption Election Date. The Additional Notes have not been registered under the Securities Act and may not be offered or sold within the United States absent registration or an applicable exemption from the registration requirements.This press release is for informational purposes only and is not an offer to sell or purchase nor the solicitation of an offer to sell or purchase securities and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which, or to any person to whom such an offer, solicitation or sale would be unlawful.About Warner Music GroupWith a legacy extending back over 200 years, Warner Music Group (WMG) today brings together artists, songwriters and entrepreneurs that are moving entertainment culture across the globe. Operating in more than 70 countries through a network of affiliates and licensees, WMG’s Recorded Music division includes renowned labels such as Asylum, Atlantic, Big Beat, Canvasback, Elektra, Erato, First Night, Fueled by Ramen, Nonesuch, Parlophone, Reprise, Rhino, Roadrunner, Sire, Spinnin’, Warner Records, Warner Classics and Warner Music Nashville. WMG’s music publishing arm, Warner Chappell Music, has a catalog of more than 1.4 million musical compositions spanning every musical genre, from the standards of the Great American Songbook to the biggest hits of the 21st century. Warner Music Group is also home to ADA, the independent artist and label services company, as well as consumer brands such as Songkick the live music app, EMP the merchandise e-tailer, and UPROXX the youth culture destination.This communication includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements contained herein involve risks and uncertainties that could cause actual results to differ materially from those referred to in the forward-looking statements. More information about Warner Music Group and other risks related to Warner Music Group are detailed in Warner Music Group’s most recent annual report on Form 10-K and its quarterly reports on Form 10-Q and current reports on Form 8-K as filed with the Securities and Exchange Commission. Warner Music Group does not undertake an obligation to update forward-looking statements.Warner Music Group maintains an Internet site at www.wmg.com. Warner Music Group uses its website as a channel of distribution of material Company information. Financial and other material information regarding Warner Music Group is routinely posted on and accessible at http://investors.wmg.com. In addition, you may automatically receive email alerts and other information about Warner Music Group by enrolling your email address through the “email alerts” section at http://investors.wmg.com. Warner Music Group’s website and the information posted on it or connected to it shall not be deemed to be incorporated by reference into this communication.Additional factors that may affect future results and conditions are described in Warner Music Group’s filings with the SEC, which are available at the SEC’s web site at www.sec.gov or at Warner Music Group’s website at www.wmg.com.SOURCE: WMGMedia Contact James Steven James.Steven@wmg.comInvestor Relations Contact Kareem Chin Kareem.Chin@wmg.com

  • Bloomberg

    ‘Korean Beatles’ Can’t Buy Stock Market’s Love Alone

    (Bloomberg Opinion) -- Shares of Big Hit Entertainment Co., the company behind South Korean boy band BTS, begin trading this week. A top-of-the-range IPO valuation of $4.2 billion(1) implies rock-star earnings multiples. Institutional investors have piled in anyway, displaying impressive confidence in the staying power of ultra-groomed youths and their obsessive followers.To live up to the hype, billionaire founder Bang Si-hyuk needs to turn a one-band wonder into something closer to Universal Music Group, adding artists and spreading their hits widely. An alternative would be to go further, surfing the Korean Wave to become a proxy for a booming cultural economy, expanding into the many other forms of Korean content already grabbing consumers’ attention: television drama, cinema, gaming and more.A mix of hip-hop and pop, with synchronized dance moves executed by perfectly chiseled starlets, the K-pop phenomenon already reaches far beyond Korea. Rapper Psy’s “Gangnam Style” made the horse-ride dance popular in 2012. Yet BTS, thanks to social media, is arguably the first band to really resonate with Western audiences. The floppy-haired outfit tackles issues like mental health and current affairs. A formidably active fan base means the band holds the Guinness World Record for Twitter engagement, based on average retweets.There’s little debate over whether BTS is a lucrative musical phenomenon — its latest album was the fourth in under two years to reach the top of the U.S. Billboard 200 chart, and the group’s first all-English single went straight to number one. Its live concert popularity isn’t far off Elton John’s, and remains undimmed by the pandemic: A streamed performance in June attracted a record 756,000 viewers from more than 100 countries.The bigger question is whether BTS’s manager is worth a celebrity price.Its dependence on the band strikes a dissonant note. While Big Hit has other idols, BTS accounted for almost 90% of sales in the first half. That’s uncomfortable, given questions over the members’ eventual absence for military service, which is compulsory for Korean males between 18 and 28. Or indeed the experience of rival agencies like YG Entertainment Inc. in 2019 —  a year marred by suicides, sex and drug scandals in an industry that has long cultivated a demure image. Clean-cut BTS has committed no such transgressions. Still, even superstars have a lifespan. The seven-man group officially debuted in 2013. The Beatles, whose popularity is often a point of comparison, lasted less than a decade.Considering estimated 2020 net debt and annualized earnings before interest, tax, depreciation and amortization as provided in the listing prospectus, a debut price of 135,000 won ($117) per share puts the company’s enterprise value at more than 40 times this year’s Ebitda. That’s well above local rivals like SM Entertainment Co., JYP Entertainment Corp. and YG Entertainment, which trade at an average of closer to 22 times forecast Ebitda. It’s above Warner Music Group Corp. too, and suggests expectations of breakneck growth. The company’s comparisons to chat-app owner Kakao Corp. and tech giant Naver Corp., meanwhile, appear wishful at best.Part of the problem comes from the sheer difficulty of putting a price on a talent agency, as U.S. powerhouse Endeavor Group Holdings Inc. found out last year. There is biotech’s element of chance, the faddish buzz of fitness startup Peloton Interactive Inc., and, with a band like BTS, a touch of soccer clubs’ promise that loyal fans will stick with a successful house. It doesn’t help that the entertainment industry’s size and market power in South Korea discourage critical scrutiny.Once Covid-19 restrictions lift, Big Hit has good reason to believe that tours will prove money-spinners once more. It will need to move quickly to diversify while Bangtan Boys (to give BTS its full name) are on top, though. The company has already snapped up a rival label and fosters new artists, but barriers to entry remain relatively low. Another option is to do more to capitalize on the breakaway success of Korean drama and film too, on top of BTS’s cross-national appeal. The Korean Wave rose higher this year when “Parasite” became the first foreign-language film to win the Academy Award for best picture.It’s not without risk, given much of that dabbling so far has been outsourced. Yet mobile game developer Netmarble Corp. is a shareholder and, as Big Hit itself points out, its existing business is already about grabbing the attention of fickle, time-poor consumers. Absent that, this may be a one-hit wonder. (1) Based on fully diluted shares.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Clara Ferreira Marques is a Bloomberg Opinion columnist covering commodities and environmental, social and governance issues. Previously, she was an associate editor for Reuters Breakingviews, and editor and correspondent for Reuters in Singapore, India, the U.K., Italy and Russia.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.