Warner Music Group (WMG) has made two key hires in its digital strategy team.
Michael Drexler has been named VP, Digital Strategy & Corporate Development, and Allan Coye has been named VP, Digital Strategy & Business Development.
Based in New York, both Drexler and Coye report to Ole Obermann, WMG’s Chief Digital Officer & EVP, Business Development, and they are the first new hires by Obermann since he joined the company at the end of last year.
Since 2010, Drexler has been at BMI, where he served as Executive Director — leading sales, operations, and client relationships for BMI’s digital rights licensing business.
Coye previously served as Vice President, Strategy & Business Development at Viacom Music & Entertainment Group, where he sourced, negotiated, and implemented revenue-driving partnerships and worked with senior leadership to define long-term channel strategy.
“We are building out an industry-leading Business Development team with a strong balance of expertise across strategic vision and thoughtful execution,” said Obermann.
“We are building out an industry-leading Business Development team with a strong balance of expertise across strategic vision and thoughtful execution.”
“That’s why I’m pleased to welcome Michael and Allan, who bring distinct skillsets, along with proven track records in delivering real commercial change. Michael has diverse experience in digital business roles across recorded music and music publishing, and Allan has wide-ranging experience across technology and media with a focus on digital video.
“They are both valuable additions as we expand our partnerships with existing players and seek out unchartered opportunities for our artists and their music.”
Drexler will focus his efforts on strategic investments and corporate development. His responsibilities will include identifying and analyzing investment opportunities and managing relationships with investment partners.
While at BMI, he led deal negotiations with major digital services while building and managing the digital licensing business development team.
Before BMI, Drexler held various digital roles at Sony Music, culminating in a position as Senior Director of Corporate & Business Development, where he evaluated and negotiated new digital investments and joint ventures. He started his career as an audio engineer, working at Sony Music and BMG/RCA Recording Studios, where he earned 2 Grammy nominations.
Coye will help develop digital strategy and manage key partner relationships at WMG. His responsibilities will include negotiating and executing deals with global partners, including video and streaming services.
Prior to his tenure at Viacome, Coye was Director of Business Development at SpinMedia, where he forged and managed relationships with a wide range of partners and digital platforms. Before SpinMedia, Coye held various investment analysis and deal execution roles at Goldman Sachs, Investcorp International and Credit Suisse.Music Business Worldwide