Revenue Performance - Total revenue for the fourth quarter increased by 3% to $1,630 million, while full-year revenue rose by 6% to $6,426 million[1][5]. - Recorded Music revenue for the three months ended September 30, 2024, was $1,338 million, a 4% increase from $1,291 million in the prior year[24]. - Full-year Recorded Music revenue increased by 5.4% to $5,223 million, driven by a 31.2% growth in licensing revenue[30]. - Total revenue for the three months ended September 30, 2024, was $1,630 million, a 3% increase from $1,586 million in the prior year[48]. - For the twelve months ended September 30, 2024, total revenue was $6,426 million, a 7% increase from $6,037 million in 2023[70]. Digital Revenue - Digital revenue remained flat in the fourth quarter but increased by 7% for the full year, reaching $3,800 million[1][16]. - Digital revenue for the same period was $881 million, remaining flat compared to $877 million in the prior year, while streaming revenue increased by 2.1%[25]. - Total digital revenue for the twelve months ended September 30, 2024, increased by 7% to $4,280 million compared to $3,989 million in 2023[54]. - Recorded music digital revenue for the twelve months ended September 30, 2024, was $3,519 million, reflecting a 6% increase from $3,322 million in 2023[54]. - Music publishing digital revenue for the twelve months ended September 30, 2024, rose by 14% to $763 million compared to $669 million in 2023[54]. Income and Profitability - Net income for the fourth quarter was $48 million, down from $154 million in the prior-year quarter, while full-year net income increased by 9% to $478 million[1][19]. - Adjusted OIBDA for the fourth quarter rose by 11% to $353 million, and for the full year, it increased by 16% to $1,432 million[1][18]. - Operating income for the fourth quarter decreased to $143 million, while full-year operating income increased to $823 million[1][17]. - Music Publishing operating income increased to $53 million, with an operating margin of 18.0%, up from 16.4% in the prior year[36]. - The total OIBDA for Warner Music Group Corp. for the twelve months ended September 30, 2024, was $1,150 million, a 2% increase from $1,122 million in 2023[61]. Cash Flow and Balance Sheet - Cash provided by operating activities decreased by 10% to $304 million in the fourth quarter but increased by 10% to $754 million for the full year[1][22]. - Free Cash Flow for the fourth quarter decreased by 10% to $271 million, but increased by 14% to $638 million for the full year[1][22]. - The company reported a cash balance of $694 million and total debt of $4.014 billion as of September 30, 2024[1][12]. - Total current assets increased by 10% to $2,643 million as of September 30, 2024, compared to $2,402 million in 2023[50]. - The company reported a net increase in cash and equivalents of $53 million for the twelve months ended September 30, 2024[52]. Licensing Revenue - The company experienced a 34.7% increase in Recorded Music licensing revenue, primarily due to growth in copyright infringement settlements in the United States[25]. - Licensing revenue for the three months ended September 30, 2024, surged by 33% to $128 million compared to $95 million in Q3 2023[67]. - The company reported a 30% increase in licensing revenue for the twelve months ended September 30, 2024, reaching $501 million compared to $382 million in 2023[73]. Costs and Expenses - Total costs and expenses for the three months ended September 30, 2024, increased by 8% to $1,487 million[48]. - Restructuring and impairments costs rose significantly to $177 million for the twelve months ended September 30, 2024, compared to $42 million in the previous year[61]. - Non-cash stock-based compensation and related costs increased by 17% to $61 million for the twelve months ended September 30, 2024, compared to $52 million in the previous year[61]. Market Outlook - The company anticipates continued growth in subscription streaming and plans to deliver more culture-shaping music in 2025 and beyond[2]. - The company emphasized the importance of constant currency results for evaluating performance, indicating that exchange rates significantly impact revenue comparisons[65].

NEW YORK, Oct. 22, 2024 (GLOBE NEWSWIRE) --  Warner Music Group Corp. will release its financial results on Thursday, November 21, 2024, for the fourth quarter and fiscal year ended September 30, 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. I ...

BofA Securities analyst Jessica Reif Ehrlich downgraded Warner Music Group Corp WMG from Neutral to Underperform and lowered the price target from $33 to $30. The price target is approximately 12 times the calendar year 2025 OIBDA (previously 13 times the 2025 OIBDA). Given the analyst's better long-term growth outlook, the multiple represents an approximately 25% premium to its media and entertainment coverage universe. Also Read: Sony Eyes $500M Deal for Pink Floyd's Iconic Music Catalog: Report Warner Mu ...

Focus on cultural impact and creative expertise New leadership empowered at Atlantic, 300 Entertainment, and 10K Projects Key moves include promotions of Lanre Gaba and Erica Bellarosa, appointment of Dave Rocco, and elevation of Craig Kallman NEW YORK, Sept. 23, 2024 /PRNewswire/ -- Today, Atlantic Music Group (AMG), part of Warner Music Group (Nasdaq: WMG), unveiled its dynamic new leadership team and structure. Designed to maximize AMG's cultural impact and strengthen its creative expertise, the changes ...

KEY TAKEAWAYS Warner Music Group said it is going to increase its planned layoffs as part of an updated restructuring plan aimed at freeing up cash to boost its core music operations. The entertainment company said it would reduce its staff by about 750 employees or 13% of its total headcount, from original plans to lay off 600 people or 10% of its workforce. Warner Music shares edged lower in early trading Friday and have lost about 15% of their value so far this year. Warner Music Group (WMG) said it is g ...

Warner Music Group said Thursday it would lay off about 750 employees, or 13% of its workforce, as part of a revised strategic restructuring plan to free up funds. In February, Warner Music, home to artists such as Dua Lipa and Teddy Swims, said that it would cut 600 employees – about 10% of its workforce. The job cuts will impact teams such as its in-house ad sales business and other support functions. Warner, home to Dua Lipa, will impact teams such as its in-house ad sales business and other support func ...

Warner Music Group Today WMG Warner Music Group $28.26 -0.39 (-1.36%) 52-Week Range $27.06 ▼ $38.05 Dividend Yield 2.41% P/E Ratio 28.26 Price Target $37.76 Add to Watchlist Warner Music Group NASDAQ: WMG is in the communication services sector and is one of the "Big 3" companies in the music recording and publishing industry, including Sony Music Group and Universal Music Group OTCMKTS: UMGNF. The company's returns have moved in the opposite direction of its sector in 2024 so far, down 17%. The Communicati ...

Warner Music Group Corp. (NASDAQ:WMG) Q3 2024 Earnings Conference Call August 7, 2024 8:30 AM ET Company Participants Kareem Chin - Senior Vice President and Head of Investor Relations Robert Kyncl - CEO Bryan Castellani - EVP and CFO Conference Call Participants Kutgun Maral - Evercore ISI Cameron Mansson-Perrone - Morgan Stanley Batya Levi - UBS Stephen Laszczyk - Goldman Sachs Omar Mejias - Wells Fargo Kannan Venkateshwar - Barclays Richard Greenfield - LightShed Partners Operator Welcome to the Warner M ...

Warner Music Group Corp. (WMG) came out with quarterly earnings of $0.27 per share, beating the Zacks Consensus Estimate of $0.25 per share. This compares to earnings of $0.28 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 8%. A quarter ago, it was expected that this company would post earnings of $0.11 per share when it actually produced earnings of $0.18, delivering a surprise of 63.64%. Over the last four quarters, the co ...

About this content About Ian Lyall Ian Lyall, a seasoned journalist and editor, brings over three decades of experience to his role as Managing Editor at Proactive. Overseeing Proactive's editorial and broadcast operations across six offices on three continents, Ian is responsible for quality control, editorial policy, and content production. He directs the creation of 50,000 pieces of real-time news, feature articles, and filmed interviews annually. Prior to Proactive, Ian helped lead the business output a ...