Warner Music Group Reports Decreased Full-Year Profits
The major label’s recorded music and publishing earnings increased, but restructuring and other operational factors slowed overall growth
Warner Music Group (WMG) recently released its earnings report for the period ending on September 30 and saw numbers that rose for the quarter but slowed for the year.
The numbers:
Profits fell 23% year over year. Income decreased to $370 million from $478 million.
WMG terminated its distribution deal with BMG during this period, causing $34 million less in streaming revenue and $47 million less in physical revenue.
Fourth quarter revenue increased by 15% while full-year revenue increased by only 4%.
Quarterly income was $109 million compared to $48 million last year.
Full-year recorded music revenue rose by 4%, and full-year music publishing revenue rose by 8%.
Quarterly recorded music revenue rose by 15% with quarterly music publishing revenue rising by 14%. This amounts to $1.53 billion from recorded music and $337 million from publishing.
Digital revenue rose by 3% for the year.
Warner Music Group (WMG) recently released its earnings report for the period ending on September 30 and saw numbers that rose for the quarter but slowed for the year.
The numbers:
Profits fell 23% year over year. Income decreased to $370 million from $478 million.
WMG terminated its distribution deal with BMG during this period, causing $34 million less in streaming revenue and $47 million less in physical revenue.
Fourth quarter revenue increased by 15% while full-year revenue increased by only 4%.
Quarterly income was $109 million compared to $48 million last year.
Full-year recorded music revenue rose by 4%, and full-year music publishing revenue rose by 8%.
Quarterly recorded music revenue rose by 15% with quarterly music publishing revenue rising by 14%. This amounts to $1.53 billion from recorded music and $337 million from publishing.
Digital revenue rose by 3% for the year.
Warner Music Group (WMG) recently released its earnings report for the period ending on September 30 and saw numbers that rose for the quarter but slowed for the year.
The numbers:
Profits fell 23% year over year. Income decreased to $370 million from $478 million.
WMG terminated its distribution deal with BMG during this period, causing $34 million less in streaming revenue and $47 million less in physical revenue.
Fourth quarter revenue increased by 15% while full-year revenue increased by only 4%.
Quarterly income was $109 million compared to $48 million last year.
Full-year recorded music revenue rose by 4%, and full-year music publishing revenue rose by 8%.
Quarterly recorded music revenue rose by 15% with quarterly music publishing revenue rising by 14%. This amounts to $1.53 billion from recorded music and $337 million from publishing.
Digital revenue rose by 3% for the year.
👋 Disclosures & Transparency Block
This article was written with information sourced from Billboard.
We covered it because WMG is one of the three major labels.
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