Whynow Acquires EMP From Warner Music Group

Warner Music Group has agreed to sell its European merchandise retailer EMP to Whynow as part of its broader cost-cutting and strategic refocus on core music operations. The disposal follows a run of cost-cutting at Warner under CEO Robert Kyncl, who announced plans in July 2025 to reduce annual costs by around $300 million. Warner confirmed the plan in a quarterly SEC filing in February after signing a non-binding letter of intent, with EMP subsequently classified as 'held for sale'.

Kyncl said in August 2025 that Warner was focusing on the artists, songwriters, and markets with the greatest potential. This exit from owned and operated media properties has also led to the sale of parts of the business including Uproxx and Songkick. Warner booked a $70 million pre-tax impairment charge on what its filings called 'non-core e-tailer operations' in August 2025, with MBW first reporting that an EMP sale was on the cards that same month.

The financial toll on EMP has been significant. Warner recognized a $79 million impairment charge on EMP's long-lived assets across its fiscal year ended September 30, 2025. It then recognized a further $14 million impairment charge across the nine months to June 30, 2026. Those charges total $93 million, set against the $180 million Warner paid private equity firm Sycamore Partners for EMP in 2018. Warner Music Group had already written off $70 million of EMP's value from its balance sheet.

Whynow expands into European merch with EMP acquisition

Whynow is acquiring EMP to strengthen its media, licensing and commerce platform, establishing a major European base in Berlin while maintaining its global headquarters in London. Whynow was founded in 2020 by Gabe Jagger, son of Sir Mick Jagger. The company stated the acquisition will create new opportunities for artists and rights-holders to build stronger fan communities, deepen engagement and unlock new revenue streams.

Gabe Jagger said: "whynow was built around the idea that great content, commerce and community belong together." EMP now becomes part of Whynow's expanding platform, adding its merch operation’s rock and metal fan community, direct-to-consumer expertise and extensive licensing relationships. Fred Casimir, President of whynow Europe and Managing Director of EMP, will oversee the operation alongside CEO Tom Kuper. The businesses will begin a phased integration designed to open up new opportunities for collaboration across the wider Whynow group.

EMP’s business and leadership transition

EMP, founded in 1986 and based in Lingen, Germany, serves more than 10 million customers across Europe through its direct-to-consumer retail platform. It operates online stores across 18 European countries and works with hundreds of music, entertainment and lifestyle brands. The retailer sells merchandise tied to a vast array of acts and brands.

EMP is run by CEO Tom Kuper, who stepped up from Chief Operating Officer in April 2025. He succeeded Dr Jan Fischer, who served as CFO and COO for a decade before becoming CEO in 2023 and stepped down 18 months ago. Existing customers, partners, and suppliers will continue to work with their current teams during the phased integration.

Whynow strengthens team with music industry executives

Whynow has recently appointed senior music executives to bolster its European strategy and artist partnerships. In March, whynow appointed Fred Casimir, who rose to President, Europe and EVP Global Repertoire and Films at BMG before leaving at the end of 2023. Casimir, based in Berlin, works closely with artists and the Whynow team to develop new partnership and licensing opportunities.

Also in March, whynow appointed David Boyne, the former UK Managing Director of Bravado, as an advisor. Boyne spent more than 15 years at Bravado, the merchandise arm of Universal Music Group, which worked with artists including the Rolling Stones, Elton John, and Queen. Whynow previously backed music-making app Overtune.

Fred Casimir said: "For 40 years, EMP has built one of the world’s largest fan communities." The phased integration is now underway.