Warner Music Tumbles Most in 18 Months on End of BMG Deal

Ashley Carman, 11/21/2024Warner Music Group's stock plummeted after announcing the end of its distribution deal with BMG, which will hinder growth in music streaming and impact financial results next year. This significant shift marks a challenging moment for WMG in the evolving music industry landscape.

Warner Music Group Corp. stock dropped the most in 18 months after the company said the termination of a music distribution deal with BMG will weigh on financial results next year, limiting growth from music streaming.In September, BMG, a unit of Germany's Bertelsmann, said it would handle its digital distribution in-house, ending its nearly eight-year deal with WMG.

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