Warner Music Group CEO Robert Kyncl has outlined an ambitious 10-year plan for the major.
Kyncl, who took over at the major at the beginning of last year, has called 2024 ‘The Year Of The Next 10’ – “the year when we move at velocity to set ourselves up for a winning decade in the new world”.
Kyncl set out his vision for Warner Music in an internal memo to staff. It follows a period of consultation with senior leadership about how the company is working.
“As we start the new year, one thing I’d like us all to remember is that our world has fundamentally changed… the music business is in a very different place than it was 10 years ago,” wrote Robert Kyncl. “Now, we’re in a position of strength. That is the time to get ahead for the future.”
Kyncl highlighted the impact of Zach Bryan, Teddy Swims, Aya Nakamura, Jack Harlow, Bolaget, Kenya Grace and Gunna with “the biggest hits of their careers”. He also hailed “fantastic” new music from returning superstars including Dua Lipa, Myke Towers, David Guetta and Ed Sheeran, alongside catalogue campaigns for David Bowie, Madonna and Talking Heads.
Other artists to get a namecheck for their new music in 2024 included Maria Becerra, Sia, Fred Again.., Peter Fox, Green Day, The Black Keys, Gabby Barrett and Diljit Dosanjh.
“We need to make bold, intelligent choices about where we put our expertise, investment, and energy,” he added. “We’re going to fuel the growth of this company using the same resourcefulness and determination with which we develop our artists and songwriters. Because ultimately that’s what will serve them best.”
We need to make bold, intelligent choices about where we put our expertise, investment and energy
Robert Kyncl
To increase fan engagement with music, Kyncl aims for Warner Music to refocus its A&R strategy around geography and genre; strengthen marketing as part of a deep partnership between A&R, technology and business intelligence; develop holistic deep and shallow catalogue management; and expand distribution and administration.
“We are building a scaled and highly effective distribution infrastructure so that we can radically and efficiently grow the large ‘middle class’ of artists while our frontline labels can remain focused on artists with the highest potential,” wrote Kyncl in the memo to staff.
The plan works alongside a wider strategy to increase the value of music. Kyncl’s view on this is familiar from previous comments about the streaming economy, which has seen increased prices in the past year.
The chief exec also wants to focus on the so-called superfan – an area of growth highlighted by Goldman Sachs’ influential Music In The Air report.
“We need to develop our direct artist-superfan products and experiences,” wrote Kyncl. “Both artists and superfans want deeper relationships, and it’s an area that’s relatively untapped and under-monetised.”
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