Music

Warner Music Group CEO made 14 million last year in spite of $190 million loss

by Tyler Munro

Want proof that there’s something broken in the music industry?

Warner Music Group filed their fiscal year’s total earnings and losses to the SEC and, according to Digital Music News, the year wasn’t great… unless you’re an executive.

Even though the label posted losses of about $190 million, executives like Lyor Cohen (CEO, Recorded Music — $14 million) or Stephen Cooper ($4.3 million with an expense account of almost $2 million) pulled in massive salaries and bonuses. That’s in spite of the fact that the company’s lost nearly $700 million in six years, and a reported $9.626 billion since 2002.

Quick, somebody get James Taylor on the phone…