Warner Music Reveals New CEO Robert Kyncl's Compensation

Days after top YouTube executive Robert Kyncl was named Warner Music's next CEO Group, the company disclosed in an SEC filing that it will earn approximately $15 million in its first year on the job, depending on performance goals.

When Kyncl's name was first mentioned as a potential successor to outgoing CEO Stephen Cooper, who is leaving after 11 years in the role, many wondered if the job would be appealing enough for the executive who steered Netflix from DVDs to streaming and was YouTube's business leader for much of his 12 years at the helm. within the company.

However, the SEC filing makes it clear that the job is financially attractive: he will receive a salary of base of $2 million, a target performance bonus of $3 million and an annual award of performance share units with a total pre-tax value of $10 million.

He will also be reimbursed approximately $500,000 for moving from Los Angeles to New York; the role also includes non-competition and non-solicitation clauses applicable during and for one year following his employment.

As reported by Billboard, Kyncl's target compensation is lower than Cooper's $17 million, although let her be eclipsed by that of Lucian Grainge, chairman of the world's largest music company, Universal Music Group, who earned $48.4 million in 2021 (not counting one-time bonuses paid by the former owner of 'UMG, Vivendi).

Warner is the third largest musical group, after Universal and Sony. Its labels include Atlantic – which is the most successful major label in the sector – Elektra and its flagship Warner Records, as well as the third largest music publisher, Warner Chappell Music. It has an extensive catalog and many current multi-platinum acts, including Ed Sheeran, Bruno Mars, Lizzo, Dua Lipa and others.

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