Warner Music Group CEO Robert Kyncl highlighted Burna Boy and Dua Lipa as key contributors to the company’s impressive second-quarter performance, which saw total revenue reach $1.554 billion.
The two artists were praised for their significant impact on streaming revenue, particularly through their newly released projects.
Kyncl emphasized the importance of streaming in amplifying an artist’s entire catalog, noting that newly released hits have a “halo effect” on an artist’s existing music. While recorded music revenue saw a slight 1.1% year-on-year decrease, streaming revenue grew 10.2% to $863 million, with subscription streaming up 13.7% to $640 million. Warner Chappell Music, the company’s publishing arm, also experienced an 8.9% year-on-year increase in revenue, generating $305 million.
Burna Boy’s success marks a significant milestone for African artists, who are increasingly making their mark on the global music industry. The Nigerian artist’s contribution to Warner Music Group’s Q2 performance highlights the growing influence and popularity of African music worldwide. Additionally, Tyla’s debut album also contributed to Sony’s $1.92 billion Q2 performance, further demonstrating the rise of African music on the global stage.
AdvertisementView this post on Instagram
