COVID-19 has created new channels for labels and artists to exploit. The future looks so bright, Warner Music Group might have to wear shades.
That’s the takeaway from the 70-minute earnings call on Tuesday during which CEO Stephen Cooper and CFO Eric Levin said the word “opportunity” no fewer than 11 times.
But how should one interpret the word during a discussion of 2020’s second quarter earnings, the first full reporting period of the COVID-19 pandemic?
Opportunity can be a euphemism for easy-to-grab potential following weak performance. Or, it can mean untapped and developing markets and technologies in the early stage of their life cycles that will take time and investment.
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