From then to now, the duo – with Moot as CEO and co-Chair, and Marshall as COO and co-Chair – have overseen a company whose quarterly revenues have grown by over 90%.
In calendar Q2, 2019 – Moot and Marshall’s first quarter in charge – WCM generated USD $147 million; in calendar Q2, 2023, their most recent quarter, the equivalent figure was nearly twice the size (+92.5%) at $283 million (see below).
Perhaps it’s unsurprising to learn, then, that Warner Music Group‘s board has decided to stick with Moot and Marshall for a good while yet.
Via an SEC filing issued Friday (September 15), WMG confirmed that Moot and Marshall had entered into new employment agreements with the company that will extend the terms of their respective employment through March 31, 2028.
Speaking to MBW today (September 18), Warner Music Group CEO, Robert Kyncl, explained: “Over the past four and a half years, Carianne and Guy have proven to not only be excellent operators of Warner Chappell but also invaluable executives across the Warner Music Group.
“They are a prime example of what a strong partnership looks like in their relentless and methodical pursuit of long-term growth on behalf of songwriters around the world.”
“Carinne and Guy are a prime example of what a strong partnership looks like in their relentless and methodical pursuit of long-term growth on behalf of songwriters around the world.”
Robert Kyncl, Warner Music Group
Songwriters that have been retained or re-signed by Warner Chappell Music with Moot and Marshall at the top of the company include Cardi B, Imagine Dragons, Sam Smith, Frank Ocean, Lizzo, Anderson.Paak, and the Pop Smoke estate.
In its latest full fiscal year (to end of September, 2022), Warner Music Group’s publishing operation – aka Warner Chappell – generated USD $958 million.
In the first nine months of the current fiscal year (i.e. the 9M to end of June 2023), Warner Chappell generated $790 million, according to WMG fiscal filings.
Warner Chappell, therefore, looks very likely to surpass $1 billion in annual revenue this FY for the first time in its history.
The new employment agreements with WMG increase the base salary of both Moot and Marshall by 25% (for Moot, to $2.1875m per annum; for Marshall, to $1.5625m per annum).
In addition, the duo will see increases in annual discretionary bonus targets(from $1.75m to $2.1875m for each of Moot and Marshall).
Beginning with Warner Music Group’s 2024 fiscal year on October 1, the new agreements also provide for discretionary annual long-term incentive awards having a grant date target value of $1.5 million for each of Moot and Marshall.
Prior to joining Warner Chappell in April 2019, Guy Moot spent 30 years at the company now known as Sony Music Publishing, climbing to the position of President, Worldwide Creative & UK Managing Director.
Carianne Marshall joined Warner Chappell in 2018 as COO, following her tenure as Partner, Head of Creative Services, and Head of Creative Licensing at independent music publisher SONGS.
SONGS was sold to Kobalt Music Group in a nine-figure deal in 2017.Music Business Worldwide