Robert Kyncl, CEO of Warner Music Group, experienced a reduction in his salary during their recent financial year.
In the fiscal year 2024, Kyncl’s total remuneration package amounted to approximately $18.63 million, as reported in a financial disclosure submitted to the Securities and Exchange Commission. This was a significant increase from his initial-year compensation of around $20.42 million in fiscal 2023.
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In the fiscal year 2024, Kyncl’s annual compensation package totaled approximately $18.63 million, according to a document filed with the Securities and Exchange Commission. This was a rise from his first-year compensation of roughly $20.42 million in fiscal 2023.
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As per a filing with the Securities and Exchange Commission, Kyncl’s total compensation package reached approximately $18.63 million in fiscal year 2024. This was a jump from his first-year compensation of around $20.42 million in fiscal 2023.
In the recent financial year, Kyncl’s base salary remained constant at $2 million, similar to what he received in the fiscal year 2023. However, his bonus increased significantly, going from $2.28 million in fiscal 2023 to $3.1 million in the previous year.
In early 2023, Kyncl, previously YouTube’s chief business officer, took over as CEO from Stephen Cooper. Notable musicians on Warner Music’s roster include Ed Sheeran, Bruno Mars, Benson Boone, Charli XCX, Zach Bryan, and Teddy Swims.
As a dedicated follower, I noticed that my fiscal 2024 stock awards decreased from the previous year’s $15.3 million to $13.5 million. Just like last time, there was no non-equity compensation in my 2024 package. Additionally, I received $11,500 million in other forms of compensation.
In the past few years, a significant increase in revenue for big record labels can be attributed to growing income from music streaming subscriptions and technological advancements such as investing in artificial intelligence software and applications. These investments aim to cut costs and boost market presence for artists by streamlining operations and increasing efficiency.
In the fiscal year 2024, Bryan Castellani, Warner Music’s Chief Financial Officer, received an annual remuneration package worth approximately $5.8 million as it was his first year on the job. Conversely, Eric Levin, the previous CFO, saw a significant decrease in his total compensation for fiscal 2024, falling to about $2.38 million, down from a previous year’s earnings of $4.3 million.
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2025-01-21 17:24