Warner Music Group Reports Q2 Revenues Rise

Revs Up

WARNER MUSIC GROUP has released second-quarter financial results for the period ended MARCH 31, 2018.  

“We’re having another excellent year with strong momentum around the world in both Recorded Music and Music Publishing,” said CEO STEVE COOPER. “We’re investing heavily in A&R, digital innovation and the transformation of our operations to ensure that we are positioned for long-term success.”  

“We showed strong revenue and OIBDA growth in our second quarter,” added EVP/CFO ERIC LEVIN. “This is our eleventh consecutive quarter of year-over-year revenue growth and we’re proud of our ability to deliver robust results on a consistent basis.” 

• Total revenue grew 16.7% or was up 10.4% in constant currency 
• Digital revenue grew 24.6% or was up 19.7% in constant currency 
• Net loss was $1 million versus net income of $20 million in the prior-year quarter
• OIBDA was $152 million versus $141 million in the prior-year quarter

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