BRYAN CASTELLANI APPOINTED CHIEF FINANCIAL OFFICER FOR WARNER MUSIC GROUP

NEW YORK, Sept. 19, 2023

NEW YORK, Sept. 19, 2023 /PRNewswire/ -- Warner Music Group Corp. (Nasdaq: WMG) today announced that Bryan Castellani is joining the company as Executive Vice President and Chief Financial Officer, effective October 16. A seasoned media and financial executive, Castellani has spent more than two decades at The Walt Disney Company, most recently serving as CFO for Disney Entertainment & ESPN. Based in New York, Castellani will report to WMG's CEO, Robert Kyncl. He succeeds WMG's long-time CFO Eric Levin, who is staying on to ensure a smooth transition, before retiring in January.

Kyncl said: "Bryan has wide-ranging experience helping one of the world's most impactful creative enterprises build long-term value and unlock new global possibilities. A dynamic, operational CFO, he'll be an excellent addition to our executive leadership team, as we grow the WMG of the future for the benefit of our artists, songwriters, investors, employees, and partners."

Kyncl added: "I'd also like to express our gratitude to Eric for his near decade of service at WMG. He'll leave with our deepest respect for his many contributions during an extraordinary period of growth that included WMG's global expansion, numerous major acquisitions, and a successful IPO. We wish him all the best."

Castellani said: "I'm delighted to be joining WMG at such an exciting and pivotal time for the company and the music industry. Music is a powerful global force, unconstrained by any specific model or format, and has significant business upside. Robert's vision for differentiating WMG is inspiring, and I'm looking forward to working with the leadership and finance teams to take the company to the next level in a rapidly evolving landscape."

Prior to being named CFO for Disney Entertainment & ESPN, Castellani was EVP of Finance for Disney Media and Entertainment Distribution (DMED) where he led finance for the segment as well as for its platform distribution, advertising sales, and networks businesses. Before that, he served as EVP & CFO of ESPN, where he oversaw the network's financial planning, strategy, and real estate functions, and played a key role in programming, affiliate, and new business initiatives. Previously, Castellani was SVP of Corporate Financial Planning & Analysis for The Walt Disney Company, where he worked closely with the segment CFO teams, corporate strategy, and investor relations in managing company-wide operating and planning functions.