Warner Music CEO Selling His $30 Million Manhattan Penthouse…

Last year, Warner Music Group inked a monstrous, $256 million office lease in midtown Manhattan.  But Warner’s brass enjoy even plusher digs: here are a few snapshots from Warner Music CEO Stephen Cooper’s $30 million, 12-room Fifth Avenue penthouse apartment, now on the market.











Interested?  More details from broker Brown Harris Stevens.  Written while listening to ‘Got Money’ by Lil Wayne feat. T-Pain.

14 Responses

  1. TuneHunter

    Q1 sales are royal shit! Time to be conservative for personal well being. Music industry house is in INFERNO and boys are scared. …and the should be!

    • TuneHunter

      He should call one of the UMG boys they are the confident ones and the arsonists.

  2. wodger

    we can conservatively estimate this as being equiv to 4 Billion Spotify Plays, maybe we have found the leak in the Streaming model….

  3. P

    Apparently money doesn’t buy you good taste. What a boring looking place.

  4. Jon Maples

    Not sure how this has anything to do with digital music or news. Paul, if you are saying that people who run companies are rich, that’s not quite news. If you are saying that he’s making enough money off the backs of artists to afford a $30 million dollar pad, that would completely discount his previous career where he built two businesses that make a whole hell of a lot more money than anyone in the music business: private equity and financial advisor firms. But who cares about facts when you can post incendiary pictures of a deluxe mansion in the sky.

    • Truth

      But that type of tenuous relationship between executive pay Or public stock price) and artist royalties is EXACTLY what folks like him do when bashing Pandora and other digital music services.

      Pandora is worth over $4 billion, but “artists only get paid $17 for a million plays.” Tim Westergren made $40 million, more than any Pandora artist.” Joe Kennedy “made $20million while artists got nothing.” etc., etc.

      Pandora’s market capitalization – and the sale of any of it’s stock – has very little to do with actual artists payouts. The company barely turned a slight profit in one quarter and subsequently went right back into unprofitability. They are paying out more than half of their total revenues in royalties to artists and artist representatives.

      If the fact that Wall Street wants to gin up $5 billion for a company that has essentially never turned a profit – and can’t say when they ever will – is somehow regarded as relevant to the music business by the editors and commenters around here, then Music Co. execs living in $30 million dollar apartments should be, too.

  5. DM

    What is the point of this article? That it’s it wrong to have money? Or are you trying to get a commission off the sale? I hope the latter.

  6. Paul Gelsomine

    Doesn’t appear to be lived in. Maybe he has another residence in Switzerland, or the Bahamas and doesn’t need to live in New York any longer.

  7. Anonymous

    I also don’t understand what this has to do with the music industry. The apartment was purchased 10+ years ago with $$$ so far removed from the music industry and Cooper was brought on to Warner as someone with a breadth of experience in bankruptcy consulting. As for the slim profit margins mentioned above – That was the first time in years that any label, specifically Warner had ended the year with gains. All other years had ended in deficit which is absolutely insane from a business perspective. Cooper isn’t there because he wants to schmooze with artists or personally cares about the music (though maybe he does), he’s there, temporarily might I add, to make the label profitable.

    As someone who works in the industry it’s not just the CEOs who are the problem. I am at a mid level position and I cannot tell you how ego fueled these labels are and detrimentally so – at all levels, not just higher up. People with absolutely no business sense are making financial decisions that are careless and senseless. Money is not spent efficiently and there is no such thing as a tight budget within the industry.

    Pardon my french but the whole industry is f*cked and it’s that way for a variety of reasons.

    I would be more interested reading an article about the larger issues at play rather than some dumb gossip about how much an exec’s PH apartment is selling for. As far as execs in the industry go, Cooper entered an already broken system and is far from the destruction that say Leor Cohen caused before him. He’s there to fix the label financially – unfortunately that may be at some artists expense but if labels are here to stay – better that than no label at all. To me, he seems to be the antithesis of your typical free spirit // ego driven music exec // producer and perhaps that’s exactly what the industry needs.

    Who knows though. But let’s focus on the real issues and how we fix them.


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