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
iHeartMedia Atlanta Names New Market President and Vice President of Sales
iHeartMedia Myrtle Beach Names Zac Davis Operations Manager
Tim Maranville Joins Cross Platform Media Group As Chief Content Officer
Study: New Brain Research Demonstrates High Effectiveness Of Radio Advertising
Survey: Justin Timberlake Is Music’s Best Male Role Model
In Brief - September 30, 2014
September 29, 2014
Jon Pinch Delays Retirement, Named Market Manager At Cumulus-Atlanta
iHeartMedia Names Earl Jones SVP, Urban Operations
Report: Few 13-20’s Name FM As #1 Music Source
New Study: Radio An Effective Way To Influence Swing Voters
In Brief - September 29, 2014
September 26, 2014
eQB NOW
The Week In Review: 9/22-9/26
Cox Media Group Names Pete Spriggs News/Talk/Sports Radio Format Leader, Drew Anderssen Format Coordinator
Mann Gets HOT From HITS In Bakersfield
ErrorFM.com Announces Launch Date, Features
In Brief - September 26, 2014
September 25, 2014
iHeartRadio Music Festival Generates 5 Billion Social Impressions
In Brief - September 25, 2014
September 24, 2014
Report: Southern California Broadcasters Association White Paper
In Brief - September 24, 2014
September 23, 2014
Jelli Selects Digigram To Provide Sound Cards For RadioSpot
In Brief - September 23, 2014
September 22, 2014
BIA/Kelsey Projects $139.3 Billion In Local Media Revenue By 2015
Music News
Lorde Drops "Yellow Flicker Beat"
Quick Hits: Gwen Stefani & Pharrell Williams, Mary Lambert, Alex & Sierra
Taylor Swift, Metallica & More Headlining 2015 Rock In Rio USA
Quick Hits: Britney Spears, Prince, Birdman, Black Sabbath, Rancid
Thom Yorke Releases Surprise Solo Album Via BitTorrent
The Week In Review: 9/22-9/26
Quick Hits: R.E.M., AC/DC, U2
Metallica Has Goodies In Store This Holiday Season
Quick Hits: Justin Bieber, Kanye West, Wiz Khalifa & Amber Rose, Brandi Carlile, Neil Young, Bob Seger
Streisand, Chris Brown Top SoundScan Sales Chart
Nickelback Moving To No Fixed Address In November
Quick Hits: AC/DC, Bruce Springsteen, Weezer, Outkast, The Who
T.I. Gets Paperwork In Order
FMQB Photo Pass: Lily Allen
Quick Hits: Kelly Clarkson, Bob Dylan, Iggy Azalea, Lana Del Rey, Jeff Bridges
FMQB NOW

Celebrating
The History Of
WFLZ/Tampa

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!