WMG Posts 7% Revenue Increase In 1st Quarter
February 6, 2014

Warner Music Group Corp. announced its first-quarter financial results for the period ended December 31, 2013.

•Revenue grew 7% on a constant-currency basis

•Digital Recorded Music revenue increased 9% on a constant-currency basis 

•Adjusted OIBDA up 7% with growth in both Recorded Music and Music Publishing
 
“There were a number of bright spots this quarter, including strong growth in steaming revenue for our recorded music business and solid performance from our music publishing business,” said Stephen Cooper, Warner Music Group’s CEO. “While we had a light release schedule this quarter, we are enthusiastic about our release schedule for the second half of the fiscal year.”
 
“We maintained our Adjusted OIBDA margin for the overall business this quarter and expanded our Music Publishing OIBDA margin,” added Brian Roberts, Warner Music Group’s Executive Vice President and CFO. “Additionally, we remain on track with our PLG integration plans.”

For the quarter, revenue grew 6.0% (or 6.8% in constant currency), driven by the July 1, 2013 acquisition of Parlophone Label Group (PLG). Excluding PLG revenue, revenue declined 3.6% (or 2.9% in constant currency), due to a lighter release schedule than in the prior-year quarter.

Recorded Music revenue grew 5.2% (or 6.1% in constant currency), due to the acquisition of PLG. Excluding PLG, revenue declined 6.1% (or 5.2% in constant currency) due to the release schedule.  Including PLG, artist services and expanded rights revenue, licensing revenue and digital revenue all grew, but were partially offset by a decline in physical revenue.

Music Publishing revenue grew 10.3% on both an as-reported and constant-currency basis as digital, synchronization, performance and mechanical revenue all grew.  Digital revenue grew 10.5% (or 5.0% in constant currency), due to growth in streaming revenue.  Synchronization revenue was up 18.2% (or 23.8% in constant currency), reflecting growth in many segments in the U.S. including commercials, movies and videogames.  Performance revenue was up 8.5% (or 10.9% in constant currency), and mechanical revenue grew 3.8% on both an as-reported and constant-currency basis, both driven by the timing of collection society distributions.




 
Breaking News
UMG Revenue Hits $5.57 Billion in 2016
BMI Withdraws Interim Fee Petition to RMLC
Talia Schlanger Named World Café Host
The Kane Show & Ocean Park Standoff Share "Good News"
Tim "Minnesota Fattz" Snell Named SVP of Programming for iHeartMedia-Augusta
February 23, 2017
iHeartMedia Revenue Up in Q4, Full-Year 2016
Study: Actual Ratings Panelists - We Want Personalities And Fun!
iHeartMedia Tampa Names Pete Norden SVP/Sales
The Syndicate Promotes from Within to Strengthen Marketing, Radio & Finance Departments
2017 NAB Crystal Radio Awards Finalists Announced
February 22, 2017
Entercom Reports Fourth Quarter and Annual Results
Study: “Local” Is Not Radio's Best Defense Against Pureplays
Ashley Z Takes On Nights At Q100/Atlanta Nights
Benztown Releases Third Annual Benztown 50 List of Top Voiceover Professionals in Radio
February 21, 2017
Study: Just Over Half Of At Work Listening Goes To Radio
iHeartMedia Names Blaine Jackson PD At WLUB/Augusta
CMG Atlanta Radio Names Jaleigh Long Director of Sales
In Brief - February 21, 2017
February 20, 2017
Study: Radio Dominates In Connected Cars
February 17, 2017
Study: Women to Radio: I Love You, But….
iHeartMedia Fort Myers Adds New Nighttime On-Air Hosts Lulu & Lala On Y100.1
Entercom Los Angeles Extends KSWD's "Uncle Joe'Benson
February 16, 2017
Study: Who Do Women Love Most – Radio or Pandora?
Prince Streaming Activity Explodes
Music News
Beyoncé Drops Out of Coachella Lineup
Quick Hits: John Mayer, Lorde, Eminem, Gucci Mane, Lionel Richie & Mariah Carey
Bruno Mars to Receive 2017 iHeartRadio Innovator Award
David Bowie Honored at Brit Awards
Katy Perry Talks New Album Rollout
Quick Hits: Ed Sheeran, Future, Songwriters Hall Of Fame, Chris Brown, Young The Giant
Fifty Shades Darker Soundtrack Debuts Atop Billboard 200
James Brown's Drummer Clyde Stubblefield Dies
Quick Hits: Katy Perry, Ottawa Bluesfest Lineup
Quick Hits: The Roots Picnic, Ringo Starr & Paul McCartney, Lana Del Rey
Republic Records, ZXL Music & The Grimmie Family To Release New Christine Grimmie Music
Linkin Park Announce New Album, Release Single "Heavy"
Migos Joins With Motown & Capitol Records
Quick Hits: Beyonce, Adele, Metallica, Michael Jackson, OneRepublic
Katy Perry, Ed Sheeran, The Chainsmokers, Shawn Mendes, Noah Cyrus, Bruno Mars Set To Perform At The 2017 iHeartRadio Music Awards
FMQB NOW

Question Of
The Week

Advertisement:
Search FMQB.com
Advertisements:
FMQB Member Login
Email:
Pass:

Save
Not a member yet?
Sign up Now!
Sign Up for Breaking News!
Enter FMQB E-Tracking!