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Warner Music Group has found its next CEO.
The label says that Robert Kyncl will succeed Stephen Cooper on Jan. 1 of next year.
Warner Music had previously said in June that Cooper would step aside when his replacement was found. The company says that Cooper will work as co-CEO with Kyncl in January to ensure a smooth transition, before leaving the company in February.
Music labels like Warner Music have dramatically transformed themselves in recent years by forging partnerships with major digital platforms like Spotify, TikTok and, yes, YouTube. Advertising and subscription revenue helped Warner Music se its revenue increased nearly 15 percent in the past year, as consumers flocked to digital platforms.
Some of the artists that work with Warner Music include Madonna, Ed Sheeran and Coldplay.
While Warner Music Group is publicly traded, it is controlled by Access Industries, owned by billionaire Len Blavatnik.
“Robert is the right CEO to meet this moment,” Blavatnik said in a statement. “His command of technology to serve creativity will unlock new opportunities at scale for artists, songwriters, and their teams. He sees over the horizon to find ways to make world-class entertainment accessible for all.”
“Music is an incredible creative force, with an unmatched ability to bring emotions, build communities, and propel change,” added Kyncl. “We’re just at the beginning of what’s possible in recognizing music’s true power, value, and reach.”
Kyncl is a veteran of digital media, having joined Netflix in 2003 to work on its DVD-by-mail business, before helping to launch the company’s first foray into streaming video in 2005. He has been a top executive at YouTube since 2010.
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