The record company giant said Stephen Cooper will leave by the end of next year and succession planning had begun.
In an SEC filing on Wednesday, WMG, home to the likes of Cardi B. and Bruno Mars said it “has begun planning for the succession” of Cooper, who will continue to serve as CEO until his replacement is found and appointed.when he was hired by chairman Edgar Bronfman Jr.
Against the backdrop of the global pandemic, WMG, which also has top artists like Ed Sheeran and Dua Lipa in its stable, posted record digital music revenues secured from social media and streaming platforms like Spotify and TikTok. Emerging music artists increasingly break out on social media platforms like TikTok before being signed by the major music labels like WMG, while other platforms like Facebook and Instagram are increasingly using music as content, offering additional revenues.
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