Report Shows Majors Earning $800K/Hour From Streaming Services

Val Blavatnik, the 28-year-old son of Warner Music Group majority owner and vice chairman Len Blavatnik, has been named managing director of Warner Music North America, U.K. and Corporate Development at the Warner Music Group, the company announced Friday (Sept. 25). In his new role the younger Blavatnik, who has held several roles at the company in recent years, and has been a board member since 2023, expects to “unify and drive business and operational strategy across these markets while guiding the company’s investment strategy to support growth,” according to a press release.

The Blavatnik announcement is part of a flurry of new executive announcements that CEO Robert Kyncl made this morning. In addition, Atlantic Music Group chairman/CEO Elliot Grainge will take on ADA in the U.S. as its new chairman, while Alejandro Duque, who has held the dual roles of president of Warner Latin and president of ADA since last July, has been named president of Warner Music International, adding Asia-Pacific and Europe, the Middle East and Africa under his oversight. (Duque will continue to oversee ADA outside the U.S.) Zach Friedman, currently COO at Atlantic Music Group, will add the title of vice chair of ADA U.S. to his resume.