WARNER MUSIC GROUP CORP.

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Delayed Nasdaq  -  04:00 2022-08-05 pm EDT
31.50 USD   -1.28%
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Warner Music : Multi-Platinum Songwriter/Producer Cromo X Inks Global Co-Publishing Deal with Warner Chappell Music

01/13/2022 | 11:11am EDT

Warner Chappell Music's U.S. Latin division has inked a worldwide co-publishing deal with multi-platinum songwriter, producer, and artist Cromo X. The Dominican talent has been behind numerous massive hits in recent years including, Bryant Myers' "Gan-Ga" (2x platinum) and "Tanta Falta" (platinum) as well as Becky G & Leslie Grace's "Díganle" (2x platinum). Cromo also contributed to Anuel AA's 6x platinum 2020 album, Emmanuel, which debuted at No. 1 on the U.S. Top Latin Albums chart and in the Top 10 of the Billboard 200.

Lazaro Hernandez, Vice President, A&R, U.S. & Latin America, WCM said: "Cromo is a standout talent who puts his own unique spin on everything he touches and infuses new sounds into his productions. He's attracted the attention of some of the biggest names out there and continues to excite new audiences around the world. We couldn't be more excited to welcome him to Warner Chappell, and we're ready for what's in store for his future."

Cromo shared: "I'm happy with this new stage in my career with the Warner Chappell family! The best is yet to come with all the music I have saved and what remains to be done."

"Cromo is one of those rare superstars that doesn't come around often," added Foundation Media Partners' President of the Latin Division, Paul Vasquez and COO, Harvey Russell.

Martin Rodríguez, known as Cromo X, has written and produced for renowned Latin talent including, Ozuna, Enrique Iglesias, Daddy Yankee, Farruko, Yande, and more. An artist in his own right, Cromo has been featured on tracks from the likes of C. Tangana ("Traicionero"), Brytiago & Jon Z ("Crush"), and Bryant Myers & La Insuperable ("La Para").

Alongside Raul Lopez, Cromo is the co-founder of MVP X Records, home to a roster of world-class producers and composers.

The deal was closed in partnership with Foundation Media Partners.

Disclaimer

Warner Music Group Corporation published this content on 13 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 January 2022 16:10:07 UTC.


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Financials (USD)
Sales 2022 5 867 M - -
Net income 2022 462 M - -
Net Debt 2022 3 398 M - -
P/E ratio 2022 35,1x
Yield 2022 1,85%
Capitalization 16 218 M 16 218 M -
EV / Sales 2022 3,34x
EV / Sales 2023 3,06x
Nbr of Employees 5 900
Free-Float 22,2%
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Mean consensus OUTPERFORM
Number of Analysts 19
Last Close Price 31,50 $
Average target price 33,72 $
Spread / Average Target 7,05%
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Managers and Directors
Stephen F. Cooper President, Chief Executive Officer & Director
Eric Joshua Levin Chief Financial Officer & Executive Vice President
Michael M. Lynton Chairman
Ralph Munsen Chief Information Officer & Executive VP
Mathias Döpfner Independent Director
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