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African Giant and Dua Lipa shine as Warner Music Group’s Q2 superstars
Nigerian Afro-fusion star Burna Boy and English pop sensation Dua Lipa have emerged as standout performers for Warner Music Group in its second quarter, according to the company’s recent earnings report.
Warner Music Group CEO Robert Kyncl highlighted Burna Boy and Dua Lipa as key contributors to the company’s strong Q2 results, which saw total revenue reach $1.554 billion.
The two artists were particularly praised for their impact on the company’s streaming revenue, playing a pivotal role in driving growth during this period.
Kyncl emphasized the significant influence of Burna Boy and Dua Lipa’s projects on Warner Music Group’s Q2 performance. He noted that these artists, along with a few others, were instrumental in the company’s success.
He also stressed the importance of streaming in amplifying an artist’s entire catalog, mentioning that newly released hits often create a “halo effect” that boosts the popularity of an artist’s previous work.
Despite a slight 1.1% year-on-year decrease in the company’s recorded music revenue, streaming revenue grew by 10.2%, reaching $863 million, with subscription streaming up 13.7% to $640 million.
Additionally, Warner Chappell Music, the company’s publishing arm, reported an 8.9% year-on-year increase in revenue, generating $305 million.
Burna Boy’s contribution to Warner Music Group’s success is a significant milestone for African artists, who are increasingly making their mark on the global music industry.
Similarly, Tyla’s debut album also contributed to Sony’s impressive $1.92 billion Q2 performance, underscoring the rising influence of African music on the global stage.
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