Warner Music Group has found a new CEO.
Robert Kyncl will succeed Stephen Cooper on January 1st of next year, according to the label.
Kyncl knows Warner Music well, having served for many years as Chief Business Officer of one of the label’s biggest partners, YouTube. Kyncl announced his intention to resign from YouTube last month.
Warner Music said in June that Cooper would resign if a replacement was found. According to the company, Cooper plans to leave the company in February, after he will serve as co-CEO of Kyncl in January to ensure a smooth transition.
Music labels like Warner Music have undergone a dramatic transformation in recent years by partnering with major digital platforms such as Spotify, TikTok and, of course, YouTube. Warner Music has seen its revenue grow nearly 15% over the past year due to advertising and subscription revenue as consumers flocked to digital platforms.
Artists affiliated with Warner Music include Madonna, Ed Sheeran and Coldplay.
Warner Music Group is publicly traded but controlled by Access Industries, owned by billionaire Len Bravatnik.
“Robert is the right CEO for this moment,” Bravatnik said in a statement. “His command of technology to deliver creativity opens up massive new opportunities for artists, songwriters, and their teams. I am looking forward to finding it.”
“Music is an incredible creative force, with an unparalleled ability to inspire emotion, build community and drive change,” added Kyncl. “We are just beginning what is possible to recognize the true power, value and reach of music.”
A digital media veteran, Kyncl joined Netflix in 2003 to work on the DVD-by-mail business and helped the company make its first foray into streaming video in 2005. He has been the CEO of YouTube since his 2010.
