Warner Music in Talks With Netflix for Artist-Related Films

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Warner Music is close to an agreement with Netflix to create films based on the label’s artists and songs, according to a new report from Bloomberg.

Warner Music Group has been in talks with Netflix to create an array of movies and documentaries based on the label’s artists and songs, according to sources close to the situation in a new report from Bloomberg. The partnership would mark a strategic shift for Warner Music, which is now looking to outsource work previously covered by its film and TV division that it shuttered earlier this year.

According to Warner Music CEO Robert Kyncl, who declined to comment on a specific deal, the company has a “tremendous catalog” of rights to songs from musical legends, including those from Fleetwood Mac, Madonna, and Prince.

“The stories we have are incredible, and they haven’t been told,” said Kyncl during the Bloomberg Screentime conference in Los Angeles on Wednesday. “It makes a lot of sense for us to partner with a company that can bring it alive all around the world.”

It’s a sensible move at a time when music documentaries, biopics, and concert films from prominent artists have become a lucrative business for labels and rights holders, and essential for maintaining their catalogs’ relevancy.

But in July, Warner Music said it was eliminating jobs in a move to reduce costs by as much as $300 million, which led to the closure of the company’s division that produced TV programs and film. At the time, the company announced it would be partnering with Bain Capital to invest as much as $1.2 billion in iconic music catalogs.

Now, Warner Music wants to further immortalize some of its artists and catalogs, and partnering with a visual media force like Netflix seems like a logical next step.

These changes come hot on the heels of Warner Music Group’s cross-Atlantic shuffles, which have seen Warner Music UK CEO Tony Harlow and COO Isabel Garvey step down.