BofA Securities analyst Jessica Reif Ehrlich downgraded Warner Music Group (WMG) from Neutral to Underperform, citing concerns about the company’s long-term growth outlook and execution risks. The analyst believes the music industry’s growth potential may be less predictable than initially anticipated, and the company’s recent restructuring efforts could lead to execution risks. Ehrlich also lowered her revenue and OIBDA estimates for the fourth quarter and fiscal year 2025.
UPROXX Studios has been established by Jarret Myer, Rich Antoniello, and will.i.am, following the acquisition of Uproxx, HipHopDX, Dime Magazine, and other media assets from Warner Music Group. The studio will exclusively represent Warner Music Group’s YouTube inventory of stars for all media sales within the United States. Myer, co-founder of Uproxx Media, will helm the studio as its CEO, while will.i.am will assume the role of chief visionary officer. The studio aims to bolster growth and enhance the experiences provided to creators and audiences alike. will.i.am’s expertise in technology and futurist perspective will be instrumental in guiding the company’s trajectory. UPROXX Studios has partnered with software company FYI to leverage AI technology and FYI radio, incorporating their platform into the studio’s operations. WMG and Uproxx Studios will continue their collaboration to ensure seamless service continuity for their partners. Rich Antoniello, Complex’s founder and former CEO, will serve as executive chairman, emphasizing the unique blend of independence and resources that sets UPROXX Studios apart.
