Warner has equity in Spotify and Deezer. CEO Stephen Cooper says its artists will get a cut if it cashes out.
Warner Music Group revealed Thursday it will share with artists any proceeds from the sale of Warner's equity in a music streaming company. Warner has a stake in Spotify, which is often rumored to be preparing for an initial public stock offering, and Deezer, which last year abandoned its planned IPO.
Warner CEO Stephen Cooper brought up the once-hot topic during Thursday's earnings call. "Although none of these equity stakes have been monetized since we implemented our breakage policy, today we are confirming that in the event we do receive cash proceeds from the sale of these equity stakes, we will also share this revenue with our artists on the same basis as we share revenue from actual usage and digital breakage," Cooper said.