Warner Music Group on Tuesday moved forward with its planned initial public offering, saying it will raise as much as $1.8 billion for shareholders. The company in a regulatory filing said it will offer 70 million shares of Class A common stock at a target price of $23 to $26 per share.
Warner Music’s Streaming up 11% in Tough Quarter
07.05.2020 - 16:29 / variety.com
By Jem Aswad
Senior Music Editor
While its streaming numbers were strong, Warner Music’s earnings took a hit during the second fiscal quarter of 2020 as the coronavirus pandemic wreaked havoc on the economy. The company has placed its IPO, announced earlier this year, on hold for the time being, although plans remain active.
Streaming revenues were up 11% to $586 million, up $49 million year over year, and digital revenue was up 5.7% (7.4% in constant currency).
However, total revenue was
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