Warner Music Group Reports Strong Revenue Growth

Continued Growth

WARNER MUSIC GROUP has reported financial results for the quarter ending SEPTEMBER 30, 2017. 

“We’ve now had five consecutive years of global revenue growth in constant currency, and the last two were up double digits,” said CEO STEVE COOPER. “Our momentum reflects the tremendous talent and appeal of our artists and songwriters, and the strength of our worldwide operating team.  Investing to maintain our growth will remain a priority into 2018 and beyond.”

“Our momentum is solid and sustainable,” added EVP/CFO ERIC LEVIN. We continue to drive revenue growth, and turn it into cash, ending the year with $647 million on the balance sheet – the highest level ever in our history of being a standalone company.”

WMG's Highlights:

• Total revenue for the full year grew 10.2% or was up 11.5% in constant currency
• Digital revenue for the full year grew 24.7% or was up 26.0% in constant currency
• Net income for the full year was $149 million versus $30 million in the prior year
• OIBDA for the full year was $473 million versus $507 million in the prior year
• Total revenue for the quarter grew 9.0% or was up 7.6% in constant currency
• Digital revenue for the quarter grew 19.8% or was up 18.6% in constant currency
• Net loss for the quarter was $38 million versus $3 million in the prior-year quarter
• OIBDA for the quarter was $60 million versus $123 million in the prior-year quarter

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