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Warner Music Group (WMG) is underperforming the S&P 500 with a 6.3% gain over six months, driven by a weak 8.5% five-year annualized revenue growth and a low 9% free cash flow margin.
A landmark MIT report, backed by industry leaders like Live Nation and Warner Music Group, identifies fan travel as the largest source of carbon emissions in live music. The data provides a new ESG benchmark for the sector, creating pressure to innovate and adapt business models.