WMG Stock Falls
Warner Music Group shares hit new lows yesterday closing at $9.74. A year ago the stock traded at $27.
As the only publicly traded stand alone record label WMG is the most visible recipient of growing investor doubts about the recorded music industry. But despite public pronouncements to the contrary, the label group’s slow adoption of new revenue streams – WMG labels were left completely out of yesterday’s Amazon launch for example – is also causing concern.