Warner Music Group
From The Art and Popular Culture Encyclopedia
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In the 2000s, a majority of the music industry is controlled by three major record labels: the French-owned Universal Music Group, the Japanese-owned Sony Music, and the US-owned Warner Music Group. Labels outside of these three major labels are referred to as independent labels (or "indies"). |
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Warner Music Group Inc. (WMG), also known as Warner Music or WEA International Inc., is an American multinational entertainment and record label conglomerate headquartered in New York City. It is one of the "big three" recording companies and the third largest in the global music industry, after Universal Music Group (UMG) and Sony Music Entertainment (SME). Formerly part of Time Warner (currently known as WarnerMedia), the company was publicly traded on the New York Stock Exchange until May 2011, when it announced its privatization and sale to Access Industries, which was completed in July 2011. With a multibillion-dollar annual turnover, WMG employs more than 3,500 people and has operations in more than 50 countries throughout the world.
The company owns and operates some of the largest and most successful labels in the world, including Elektra Records, Warner Bros. Records, Parlophone, and Atlantic Records. WMG also owns Warner/Chappell Music, one of the world's largest music publishers.
Since August 2, 2018, WMG has expanded its business to digital media operation through its acquisition of Uproxx Media Group.
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