4/4/2023 0 Comments Imeme by steve![]() ![]() That provides us with the flexibility to transform our company as we continue to grow our digital and non-traditional recorded music revenue while shifting away from a predominantly physical recorded music business. Importantly, we recapitalized our balance sheet in May. But with the combination focused management and a thoughtful strategy, we limited the negative impact of these challenges and saw only modest erosion in revenue this fiscal year - no small achievement in this difficult environment. ![]() Clearly we face some significant challenges from a historically weak global economy as well as the ongoing recorded music industry transition. We also continued the diversification of our revenue mix, making further progress on our goal to reposition the company by expanding our participation in growing areas of the music business. Notably we gained share, expanded our digital presence, and improved our flexibility. As I look back at fiscal 2009, I am very proud of what we have accomplished. This quarter capped a year of strong progress at Warner Music. Welcome, everyone and a Happy Thanksgiving to all of you. We have provided schedules reconciling these results to our GAAP results in our earnings press release posted on our website. We plan to present certain non-GAAP results during this conference call. Information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained in our earnings press release and Form 10-K and other SEC filings. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties, and other factors that can cause actual results that differ materially from our expectations. However, there can be no assurance that management’s expectations, beliefs, and projections will result or be achieved. Our expectations, beliefs, and projections are expressed in good faith and we believe there is a reasonable basis for them. Such statements include but are not limited to estimates of our future performance, such as the success of future albums, projected digital sales increases and declines in physical sales, expected expansion of the online marketplace, the success of strategic actions we are taking to accelerate our transformation as we redefine our role in the music industry, the impact general economic conditions may have on us, market share gains, and our intention to deploy our capital, including the level and effectiveness of future A&R investments.Īll forward-looking statements are made as of today and we disclaim any duty to update such statements. Words such as estimates, expects, plans, intends, believe, should and will, and variations of such words or similar expressions that predict or indicate future events or trends, or do not relate to historical matters, identify forward-looking statements. Executive Vice President and CFO, Steven Macri, will discuss our quarterly financial results and then Edgar, Steve, and Michael Fleisher, our Vice Chairman, Strategy and Operations, will take your questions.īefore Edgar’s comments, let me remind you that this communication includes forward-looking statements that reflect the current views of Warner Music Group about future events and financial performance. Today Chairman and CEO Edgar Bronfman Junior will update you on our business performance and strategy. Both our earnings press release and the Form 10-K we filed this morning are available on our website at wmg.com. Welcome to Warner Music Group’s fiscal fourth quarter 2009 conference call. Jill Krutick, Senior Vice President of Investor Relations and Corporate Development. (Operator Instructions) Now I would like to turn today’s call over to your host, Ms. ![]() At the request of Warner Music Group, today’s call is being recorded for replay purposes and if you object, you may disconnect at any time. Welcome to the Warner Music Group’s fiscal fourth quarter earnings call for the period ended September 30, 2009. Michael Fleisher - Vice Chairman, Strategy and Operations Steven Macri - Chief Financial Officer, Executive Vice President Krutick - Senior Vice President of Investor Relations and Corporate DevelopmentĮdgar Bronfman - Chairman of the Board, Chief Executive Officer ( WMG) F4Q09 Earnings Call Novem8:30 AM ET ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |