Warner Music Group Just Signed a $256 Million Lease In Midtown Manhattan…

The ten-year lease will plant Warner Music Group in the pricey Paramount Plaza, situated snugly on 1633 Broadway in Midtown Manhattan, just south of Central Park.  In total, the label has secured 300,000 square feet of office space at a price tag of $16 million a year over a 16-year lease contract, with $10 million down, according to details filed with federal regulators this week.

All of which equals approximately $256 million in total rent, which doesn’t even include “certain real property taxes, operating expenses and common area maintenance expenses.”

According to the label, the new office will allow for a greater, more consolidated staff.  Which will help everyone focus on that turnaround they’ve been meaning to get to.

Warner Music Group

financial profits/losses, fiscal years 2002-2012 (as reported to the SEC).

2012: ―$190 million.

2011: ―$206 million.

2010: ―$143 million.

2009: ―$100 million.

2008: ―$56 million.

2007: ―$21 million.

2006: +$60 million.

2005: ―$169 million

2004: ―$1.422 billion.

2003: ―$1.353 billion.

2002: ―$6.026 billion.


Total: $9.626 billion


Any questions?


14 Responses

  1. Bronfasaurus

    I’m surprised WMG can still afford that place after paying all of their artists.

    • Tune Hunter

      Yes, you got genuine high rent lover above, with big nerve and questionable future!

      I am not concerned with Warner – it is likely that Warner Inc. owned by Blavatnik just signed a deal with Blavatnik Realty Inc.
      Warner will double in size and will become mega profitable the minute we switch to Discovery Moment Monetization.

  2. Grumplestiltskin

    300 square feet is about the size of my bedroom. You sure about that number?

    • R.P.

      unless, of course, you are an artist and are just making music for the love of music…

  3. Adam

    Didn’t you know the landlords make all the money in NYC? Rent gets paid first, everything else comes after…

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