WARNER MUSIC GROUP CORP. REPORTS RESULTS FOR FISCAL FIRST QUARTER ENDED DECEMBER 31, 2024 Financial Highlights For the three months ended December 31, 2024 NEW YORK, New York, February 6, 2025—Warner Music Group Corp. today announced its first-quarter financial results for the period ended December 31, 2024. Robert Kyncl, CEO of Warner Music Group said: "This quarter, we saw success with new stars, global superstars, longtime legends, and irreplaceable catalog. In our ongoing effort to both grow the pie and ...

NEW YORK, Feb. 6, 2025 /PRNewswire/ -- Spotify and Warner Music Group (NASDAQ: WMG) today announced a new, multi-year agreement, which covers both Recorded Music and Music Publishing. Through the deal, the two companies strengthen their joint commitment to artists, songwriters, and fans, as well as the growth of the music ecosystem through innovative collaboration. WMG and Spotify will work together to shape the future of audio-visual streaming and enhance the value of music. The new deal will help deliver ...

Core Insights - Warner Music Group has acquired a controlling stake in Tempo Music Investments, an investment platform for premium music rights, from Providence Equity Partners, which will remain a minority investor [1][2] - The acquisition aims to expand Warner Chappell's catalog and enhance revenue generation through a diverse portfolio of music rights [3][4] Company Overview - Tempo Music Investments was launched in 2019 as a partnership between Providence Equity Partners and Warner Music Group, combining capital and investment expertise with music industry resources [2] - Tempo focuses on empowering artists and songwriters while delivering compelling financial results through a disciplined investment approach [6] Catalog and Artist Representation - The catalog acquired includes rights from notable artists and songwriters such as Bruno Mars, Twenty One Pilots, Adele, Wiz Khalifa, and Florida Georgia Line, among others [1][4] - Tempo has built a high-quality catalog over the years, representing top artists and songwriters, which aligns with Warner Chappell's existing partnerships [3][4] Strategic Goals - The acquisition is seen as a natural fit for Warner Music Group, aimed at building scale and influence while delivering high-margin revenue [3] - The partnership with Providence Equity Partners will continue, supporting Tempo's next phase of growth [2][3]

NEW YORK, Jan. 09, 2025 (GLOBE NEWSWIRE) -- Warner Music Group Corp. will release its financial results on Thursday, February 6, 2025, for the first quarter ended December 31, 2024, and will hold an earnings conference call that morning at 8:30 a.m. ET. To access the conference call, please register here. Once registered, you will receive an email with the dial-in number along with your personalized pin needed to join the call. We suggest you call in 10 minutes prior to the start time. If you do not anticip ...

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Warner Music Group Corp WMG reported downbeat fiscal fourth-quarter 2024 earnings on Thursday. GAAP EPS of 8 cents missed the analyst consensus estimate of 27 cents. Revenue grew 2.8% year-on-year to $1.63 billion, beating the analyst consensus estimate of $1.59 billion. Recorded Music revenue grew by 4.0% Y/Y at $1.34 billion in the quarter. Music Publishing revenue decreased by 1.0% Y/Y to $295 million. Digital revenue remained flat Y/Y at $1.07 billion. Adjusted OIBDA increased by 11.4% compared to the p ...

Warner Music Group Corp. (NASDAQ:WMG) Q4 2024 Earnings Conference Call November 21, 2024 8:30 AM ET Company Participants Kareem Chin - Head, Investor Relations Robert Kyncl - Chief Executive Officer Bryan Castellani - Chief Financial Officer Conference Call Participants Kutgun Maral - Evercore ISI Benjamin Swinburne - Morgan Stanley Jason Bazinet - Citi Benjamin Black - Deutsche Bank David Karnovsky - J.P. Morgan Devin Brisco - Wolfe Research James Heaney - Jefferies Batya Levi - UBS Stephen Laszczyk - Gold ...

Warner Music Group Corp. (WMG) came out with quarterly earnings of $0.08 per share, missing the Zacks Consensus Estimate of $0.28 per share. This compares to earnings of $0.34 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -71.43%. A quarter ago, it was expected that this company would post earnings of $0.25 per share when it actually produced earnings of $0.27, delivering a surprise of 8%.Over the last four quarters, the com ...

Revenue Performance - The company reported a revenue benefit of approximately $73 million for the fiscal year ended September 30, 2022, primarily from Recorded Music streaming revenue due to an additional week in the fiscal calendar[329]. - Total revenues increased by $389 million, or 6%, to $6,426 million for the fiscal year ended September 30, 2024, compared to $6,037 million for the prior year[340]. - Digital revenues increased by $291 million, or 7%, to $4,280 million for the fiscal year ended September 30, 2024, representing 67% of consolidated revenues[342]. - Recorded Music revenues rose by $268 million, or 5%, to $5,223 million for the fiscal year ended September 30, 2024, with U.S. revenues at $2,210 million[343]. - Music Publishing revenues increased by $122 million, or 11%, to $1,210 million for the fiscal year ended September 30, 2024[340]. - The overall increase in Recorded Music revenue was driven by increases in digital, licensing, and physical revenues[427]. Revenue Sources - Recorded Music revenues are derived from four main sources: digital, physical, artist services and expanded rights, and licensing[322]. - Music Publishing revenues are generated from five main sources: digital, performance, mechanical, synchronization, and other[327]. - The company has diversified its revenue streams by entering into expanded-rights deals with recording artists, allowing participation in activities beyond traditional recorded music[322]. Digital Revenue Insights - The company emphasizes the importance of digital revenues, which vary by region and are expected to grow with new technologies[321]. - Total digital revenues for the fiscal year ended September 30, 2024 included U.S. revenues of $2,039 million and international revenues of $2,243 million, representing 48% and 52% of total digital revenues, respectively[342]. - Digital revenue in Music Publishing increased by $94 million, or 14%, with streaming revenue growing by $96 million, or 15%, to $752 million for the fiscal year ended September 30, 2024[346]. - Adjusted for the impacts of the BMG Termination and the Digital License Renewal, Recorded Music streaming revenue grew by 9%[344]. Strategic Restructuring - The Company announced a Strategic Restructuring Plan in February 2024, expecting a 13% reduction in overall headcount and incurring approximately $210 million in total non-recurring restructuring charges[330]. - For the fiscal year ended September 30, 2024, the Company recognized $178 million in restructuring and impairments related to the Strategic Restructuring Plan, including $121 million in severance costs[330]. - The Company expects to allocate cost savings from the Strategic Restructuring Plan to increase investment in core Recorded Music and Music Publishing businesses[330]. - The company plans to reinvest savings from restructuring into technology and other business areas[439]. Financial Performance Metrics - The company’s Adjusted OIBDA is a key performance measure, adjusted to exclude non-cash stock-based compensation and other items affecting comparability[309]. - Adjusted OIBDA increased by $197 million to $1,432 million for the fiscal year ended September 30, 2024, representing a 16% increase from $1,235 million in 2023[388]. - Adjusted OIBDA margin improved to 22% for the fiscal year ended September 30, 2024, up from 20% in 2023, driven by strong operating performance and restructuring savings[390]. - Operating income increased by $33 million to $823 million for the fiscal year ended September 30, 2024, up from $790 million in 2023, due to improved Adjusted OIBDA and lower amortization expenses[407]. Costs and Expenses - Total cost of revenues increased by $178 million, or 6%, to $3,355 million for the fiscal year ended September 30, 2024[363]. - Artist and repertoire costs increased by $169 million to $2,167 million for the fiscal year ended September 30, 2024, representing 34% of revenue[364]. - Total selling, general and administrative expense increased by $53 million, or 3%, to $1,879 million for the fiscal year ended September 30, 2024[373]. - General and administrative expense increased by $98 million to $1,089 million for the fiscal year ended September 30, 2024, representing 17% of revenue[374]. Debt and Liquidity - At September 30, 2024, the company had $4.014 billion of debt and $694 million of cash and equivalents, resulting in a net debt of $3.320 billion[463]. - The company believes its primary sources of liquidity will be sufficient to support existing operations over the next twelve months[479]. - The company's S&P corporate credit rating improved from B in 2017 to BBB- in August 2024, with a stable outlook[480]. - The weighted-average interest rate on outstanding indebtedness decreased from 10.5% in 2011 to 4.3% as of September 30, 2024[480]. International Revenue - International revenue increased by $286 million, or 9%, to $3,563 million for the fiscal year ended September 30, 2024, with international Recorded Music revenue rising by $242 million, or 9%[358]. - U.S. Recorded Music revenues accounted for 42% of total revenues in 2024, while international revenues accounted for 58%[426]. Other Financial Highlights - Net income decreased by $39 million to $478 million for the fiscal year ended September 30, 2024, compared to $439 million in 2023, reflecting various operational factors[420]. - The company recorded a pre-tax gain of $32 million from divestitures during the fiscal year ended September 30, 2024[385]. - Cash provided by operating activities was $754 million for the fiscal year ended September 30, 2024, compared to $687 million for the fiscal year ended September 30, 2023, representing a $67 million, or 10%, increase[466].

Financial Highlights Full-Year Results Reflect Healthy Performance Across Recorded Music and Music PublishingContinued Strong Growth in Subscription Streaming Underpinned by Healthy Macro TrendsMusic Publishing Achieves its Fourth Consecutive Year of Double-Digit Revenue GrowthDelivered Operating Cash Flow Conversion of 53% in line with Guidance For the three months ended September 30, 2024 Total revenue increased 3% (the same in constant currency)Digital revenue was flat compared to prior-year quarterNet i ...