Tuesday, May 7, 2019

Warner Music Group Reports Solid Q2, Digital Up 21% | hypebot

WMG-W-logoWarner Music Group Corp. today announced solid second quarter financial results for the period ending March 31, 2019. Total revenue grew 13.2% and digital revenue was up 20.8%.

“Our second-quarter results were strong,” said Steve Cooper, Warner Music Group’s CEO. “Our sustained investment in our artists and songwriters, our artist services business and our world-class operators, are delivering great results.”

“Revenue and OIBDA were both up double-digits,” added Eric Levin, Warner Music Group’s Executive Vice President and CFO. “Our cash position remains strong, with $470 million on the balance sheet at quarter-end.”


  • Total revenue grew 13.2% or was up 17.6% in constant currency
  • Digital revenue grew 20.8% or was up 25.0% in constant currency
  • Net income was $67 million versus a net loss of $1 million in the prior-year quarter
  • OIBDA (Operating income before depreciation and amortization) was $191 million, up 25.7% from $152 million in the prior-year quarter
[from http://bit.ly/1n4oGj7]

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