Warner Music Group generated USD $1.376 billion within the first three months of 2022.
That determine was up 13.2% year-on-year at fixed foreign money, the agency advised buyers at present (Might 10).
Warner revealed these numbers as a part of its fiscal Q2 (calendar Q1) monetary outcomes.
These outcomes additionally revealed just a few different fascinating figures throughout each WMG’s recorded music and music publishing operations.
Recorded music
WMG’s recorded music division noticed its revenues hit $1.147 billion within the calendar Q1 interval, up 11.4% YoY at fixed foreign money.
Curiously, Warner famous to buyers at present: “Per the prior quarter, the quarter included the influence of a brand new cope with considered one of our digital companions affecting Recorded Music streaming income.”
Discounting this influence, stated Warner, complete recorded music income was up 14.8% YoY at fixed foreign money.
Recorded music streaming income contributed $776 million, up 9.9% YoY in fixed foreign money.
If that YoY streaming development looks as if a decrease share than anticipated, it’s as a result of it’s: Warner advised buyers that “adjusted for the influence of the brand new cope with considered one of our digital companions”, its quarterly recorded music streaming income would have been up 15.0% at fixed foreign money.
Quarterly bodily music gross sales weighed in at $122 million, up 8.0% YoY at fixed foreign money. Warner stated this bodily development was “primarily on account of an growing demand for vinyl”.
Main sellers within the quarter included Ed Sheeran, Michael Bublé, Dua Lipa and Crimson Sizzling Chili Peppers.
[Click on the tables below to see a more in-depth figures from Warner’s fiscal Q2 / calendar Q1 results.]
Music publishing
Warner’s music publishing division – Warner Chappell Music – noticed its international income hit $230 million in calendar Q1.
That determine, stated Warner, was up 23.0% YoY at fixed foreign money, and was “pushed by development throughout all income traces”.
Music publishing streaming income elevated 23.2% YoY at fixed foreign money, stated Warner.
Added WMG: “Synchronization income elevated on account of greater industrial licensing exercise. Efficiency income elevated as bars, eating places, concert events and reside occasions continued to get well from COVID disruption. Mechanical income elevated, pushed by robust bodily gross sales.”
Warner Music Group (company-wide)
As talked about, Warner Music Group’s international income in calendar Q1 stood at USD $1.376 billion, up 13.2% YoY at fixed foreign money.
Adjusting for that streaming “new deal”, stated Warner, WMG-wide revenues would have been up 16.1% YoY at fixed foreign money.
Working earnings (see beneath) was $166 million in calendar Q1, in comparison with $151 million within the prior-year quarter.
OIBDA (Working Earnings Earlier than Depreciation and Amortization) was $255 million, a rise from $228 million within the prior-year quarter, and OIBDA margin elevated 0.3% to 18.5% from 18.2% within the prior-year quarter.
Warner stated these will increase in working earnings and OIBDA have been “primarily on account of elevated income”.
Steve Cooper, CEO, Warner Music Group, stated: “Warner Music Group’s distinctive mixture of scale and agility provides us, our artists, and our songwriters an edge in music’s ever-expanding universe of alternative.
“We proceed to construct our unparalleled artist growth experience, our differentiated strategy to international enlargement, and our ground-breaking dedication to innovation on the intersection of music, gaming, social and health.
“We’re equally excited concerning the wonderful new releases we’ve lined up for the remainder of the 12 months, and the probabilities on the horizon.”
“We proceed to construct our unparalleled artist growth experience, our differentiated strategy to international enlargement, and our ground-breaking dedication to innovation on the intersection of music, gaming, social and health.”
Steve Cooper, Warner Music Group
Eric Levin, CFO, Warner Music Group, added: “The underlying well being and resilience of our enterprise is mirrored within the diversified income development that we delivered within the second quarter.
“Whereas our core enterprise continues to flourish, new development vectors are continuously rising. We look ahead to driving worth for our shareholders and are well-positioned to capitalize on the strong tendencies happening in our trade.”
Music Enterprise Worldwide
