Warner Music Group has sold EMP, the Germany-based rock and metal merchandise retailer it acquired for USD $180 million in 2018.
The buyer is whynow, the London-headquartered media and commerce company founded by Gabe Jagger, son of Rolling Stones frontman Mick Jagger.
MBW first reported that an EMP sale was on the cards in August 2025, after Warner booked a $70 million pre-tax impairment charge on what its filings called “non-core e-tailer operations.”
Warner confirmed the plan in a quarterly SEC filing in February, disclosing that it had signed a “non-binding letter of intent” to sell EMP, which was subsequently classified as “held for sale.”
“For 40 years, EMP has built one of the world’s largest fan communities,” said Fred Casimir, President, whynow Europe, and Managing Director, EMP, in a press release issued announcing the deal.
“By bringing EMP into whynow, we are significantly expanding our platform, enabling artists and rights holders to manage and grow their audience ecosystem through a single partner, spanning merchandising, e-commerce, licensing and media content.”
“By bringing EMP into whynow, we are significantly expanding our platform, enabling artists and rights holders to manage and grow their audience ecosystem through a single partner, spanning merchandising, e-commerce, licensing and media content.”
Fred Casimir, whynow Europe/EMP
“whynow was built around the idea that great content, commerce and community belong together,” said Gabe Jagger, Founder and CEO of whynow. “Bringing EMP into the group adds Europe’s leading rock and metal fan ecosystem to that vision.
“Where many artists today work with four or five different partners, we’re creating one integrated platform designed to help them build audiences, strengthen fan relationships and grow their businesses.”
“whynow was built around the idea that great content, commerce and community belong together. Bringing EMP into the group adds Europe’s leading rock and metal fan ecosystem to that vision.”
Gabe Jagger
EMP was founded in 1986, is headquartered in Lingen, Germany, and operates online stores across 18 European countries.
It sells merchandise tied to acts including Metallica, Guns N’ Roses, Nirvana, and Pink Floyd, plus products from entertainment and gaming brands such as Disney, Marvel, and PlayStation.
The company says it now serves more than 10 million customers, having claimed around six million in 2023.
EMP is run by CEO Tom Kuper, who stepped up from Chief Operating Officer in April 2025.
As part of the transaction, whynow is establishing what it describes as “a major European base in Berlin,” while its global headquarters remain in London.
whynow added senior music executives to its ranks earlier this year.
In March, it appointed Casimir, who rose to President, Europe and EVP Global Repertoire and Films at BMG before leaving at the end of 2023, and David Boyne, the former UK Managing Director of Bravado, as advisors.
Boyne spent more than 15 years at Bravado, the merchandise arm of Universal Music Group, working with artists including the Rolling Stones, Elton John, and Queen.
Existing customers, partners, and suppliers will continue to work with their current teams during what whynow calls a “phased integration.”
The disposal follows a run of cost-cutting at Warner under CEO Robert Kyncl, who in July 2025 announced plans to reduce annual costs by around $300 million.
Kyncl said in August 2025 that Warner was “focusing on the artists, songwriters, and markets with the greatest potential.”
whynow was founded in 2019 and has previously backed music-making app Overtune.
Warner recognized a $79 million impairment charge on EMP‘s long-lived assets across its fiscal year ended September 30, 2025, and a further $14 million 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 the business in 2018.Music Business Worldwide