Y Combinator’s Garry Tan Goes to the MatRead more

Robert Kyncl. Photo by Bloomberg.

What Kyncl’s Jump to Warner Music Says About Music’s Prospects

Photo: Robert Kyncl. Photo by Bloomberg.

If Robert Kyncl’s career is an indication of which part of the entertainment industry is about to take off, then maybe we should put our life savings into a music company. Kyncl—who spent the past decade as a senior executive at the YouTube rocket ship and earlier worked at Netflix—was on Wednesday named CEO of Warner Music Group. Warner, owner of labels such as Atlantic Records and Warner Records, is an iconic company in the music industry. But let’s face it—until recently, music had not been a growth industry for…well, decades. 

Kyncl’s decision to leave YouTube for Warner signals just how much music has recovered. After suffering through the dislocation of digital technologies (including piracy) 20 years ago, music companies have found multiple new revenue sources, including licensing deals with everyone from Facebook to YouTube to streaming services such as Spotify. Industry leader Universal Music Group reported 17% revenue growth in the first half of this year on a constant currency basis, following a similar growth rate in 2021. Warner Music, the No. 3 player after Sony Music and Universal, grew revenues 15% last year and slightly more so far this year.

Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
Former Apple design chief Jony Ive and OpenAI CEO Sam Altman. Photos by Getty.
Exclusive
Designer Jony Ive and OpenAI’s Sam Altman Discuss AI Hardware Project
Jony Ive, the renowned designer of the iPhone, and OpenAI CEO Sam Altman have been discussing building a new AI hardware device, according to two people familiar with the conversations.
From left to right: Blair Effron, Robert Pruzan and David Handler. Photos by Getty; Tidal Partners.
Exclusive Finance
Disputes, Employee Misconduct Rattle Centerview’s Silicon Valley Dreams
The San Francisco Bay Area–based bankers at Centerview Partners, the investment bank that advised Silicon Valley Bank’s owner and Credit Suisse through recent turmoil, got two doses of bad news last week.
Art by Clark Miller
Exclusive startups entertainment
MasterClass Takes a Crash Course in Frugality
MasterClass had a problem with the shoot featuring its latest star instructor, Walt Disney Co. CEO Bob Iger.
OpenAI CEO Sam Altman and Microsoft CEO Satya Nadella. Photos via Getty
Exclusive microsoft ai
How Microsoft is Trying to Lessen Its Addiction to OpenAI as AI Costs Soar
Microsoft’s push to put artificial intelligence into its software has hinged almost entirely on OpenAI , the startup Microsoft funded in exchange for the right to use its cutting-edge technology.
From left: Paul Graham, Garry Tan and Michael Seibel. Photos by Getty. Art by Mike Sullivan.
Exclusive startups ai
Y Combinator’s Garry Tan Goes to the Mat
Garry Tan was in his happy place. Surrounded by food trucks and techies basking in San Francisco’s September sun, the CEO of Y Combinator snapped selfies with entrepreneurs as he meandered through a crowd of 2,700 attendees at the startup accelerator’s annual alumni event.
Dave Rogenmoser, cofounder of Jasper. Photo via Getty.
Exclusive startups ai
Jasper, an Early Generative AI Winner, Cuts Internal Valuation as Growth Slows
Jasper AI, an early darling of the generative artificial intelligence boom, has cut the internal value of its common shares 20%, according to former employees who were notified by the company.