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Tag: Josh Groban

  • Warner Music Group’s losses lessen

    Warner Music Group’s losses lessen

    NEW YORK: Warner Music Group has announced financial results for the 10 month period ended 30 September 2004.

    Revenue for the period was $2.5 billion, up two per cent from the 10 months ended 30 September 2003. Operating income increased to $7 million from a loss of $197 million in the prior year period. Net loss improved to $136 million in 2004 from a net loss of $239 million in 2003.

    The company reported results for a 10 month transition period due to the change in 2004 of its fiscal year end from 30 November to 30 September. Meanwhile the company also announced that it is selling its sheet music and educational materials division to closely held Alfred Publishing so it can focus more on signing artists and songwriters. The financial terms of the deal were not disclosed.

    Warner Music Group chairman and CEO Edgar Bronfman, Jr. said, “Warner Music Group has continued to make significant progress on a number of fronts since our last earnings announcement. The financial results reflect the continued successful implementation of the restructuring plan and the total commitment of our colleagues in positioning Warner Music Group for success in a changing market. Now that the lion’s share of the restructuring has been completed, we can turn our entire focus to building and developing the company’s roster of recording artists and songwriters.”

    Worldwide recorded music revenue increased one percent versus the same 10 month period in the prior year to $2.06 billion. However when one takes favourable foreign exchange out of the equation, worldwide recorded music revenue decreased by approximately four per cent.

    The results were driven primarily by lower sales volume attributable to the timing and number of new releases as compared with the prior year. Excluding favorable foreign exchange, international recorded music revenue declined five per cent. US recorded music revenue declined by approximately three per cent to $977 million. The company’s major sellers this year included albums by Josh Groban, Green Day, Big & Rich, Twista, Jet and Michael Bublé.

  • MTV, Yahoo! team up for Quincy Jones extravaganza

    MTV, Yahoo! team up for Quincy Jones extravaganza

    MUMBAI: This looks like a not to be missed musical extravaganza. Nearly two decades ago one of the most famous music concerts in history We Are The World took place. The brains behind that event, music legend Quincy Jones has announced the follow up We Are The Future.

    MTV and portal Yahoo will serve as the international broadcast partners for the all-star benefit concert which will take place in Rome on 16 May 2004.

    The concert marks the launch of a worldwide humanitarian effort to help children in war-ravaged cities. The concert will see performances from Norah Jones, Alicia Keys, Josh Groban, Juanes, Andrea Bocelli, Herbie Hancock, Zucchero, Youssou N Dour, the casts of Stomp and Cirque du Soleil among others.

    Celebrity presenters will include talk show queen Oprah Winfrey, Oscar winner Angelina Jolie, boxing great Muhammad Ali, football icon Pele and tennis Grand Slam champion Serena Williams.The concert will be made available to all 42 MTV channels globally, which collectively reach 402 million households in 166 countries.

    The concert will air as a live four hour broadcast on MTV Italy and as a two hour tape delayed version in various other MTV markets. In addition, MTV will provide promotional support on its various localised web sites around the world. Local premiere dates and times will be listed on www.wearethefuture.com as they are confirmed.

    Yahoo! will webcast the concert live via its music destination, Launch to its global network of sites. Yahoo! claims to reach over 274 million unique individuals worldwide each month.

    MTV Networks International senior VP editorial director Bill Flanagan added, “MTV has a long history of supporting important social causes from Live Aid in 1985 to our work today on building HIV/Aids awareness. With participation from some of the worlds biggest and most well-respected artists, this one-of-a-kind event is sure to draw attention to the plight of children in war-torn countries.”

    The event is free. Proceeds from the concerts broadcast and related merchandise sales will benefit We Are the Future programmes, including the creation of child centers in six cities worldwide. At the centers, children will not only receive the much-needed humanitarian services and care, but also have access to resources and training in health, nutrition, technology, sports and the arts.