Warner Music Group Corp. Reports Fiscal Third Quarter Results
August 7, 2014
Untitled Document

Warner Music Group Corp. today announced its third-quarter financial results for the period ended June 30, 2014.

Third Quarter Highlights:
* Total revenue increased 16.9% on a constant-currency basis
* Recorded Music revenue increased 20.8% on a constant-currency basis 
* Cash balance increased to $142 million versus $102 million for the prior-year quarter  
* OIBDA was $66 million versus $69 million in the prior-year quarter
* Net loss was $184 million versus $62 million in the prior-year quarter
 
“A stronger release schedule, combined with sustained investment in exceptional artistic talent and first-class execution by our operators, delivered robust results this quarter,” said Stephen Cooper, Warner Music Group’s CEO. “We are especially pleased to see our strategic moves pay off, with the acquisition of Parlophone Label Group (PLG) being a key contributor to this quarter’s success. We expect our momentum to continue through the remainder of the fiscal year, due to several exciting artist releases in the coming months.”
 
“We are pleased with our financial performance with key highlights including solid revenue growth, improvement in Adjusted OIBDA and an increase in our cash balance as compared to the prior-year quarter,” added Brian Roberts, Warner Music Group’s Executive Vice President and CFO. “Excluding the non-recurring costs associated with the PLG acquisition and integration, our cash flow from operations was strong and we remain committed to delivering solid free cash flow in the quarters to come.”




 
Breaking News
Coran Capshaw To Be Honored With City of Hope's 2017 Spirit of Life Award
Cumulus Appoints Nic Merenda VP/Market Manager For Topeka, KS
Alpha Media Brings Throwbacks To San Antonio
iHeartMedia St. Louis Names Jules Riley PD For 93.7 The Bull
J. Anthony Brown Joins The Steve Harvey Morning Show
April 21, 2017
eQB NOW
Cumulus Promotes Heather Gersten To APD At WWLI/Providence, RI
April 20, 2017
iHeartMedia Washington, D.C. Names Tommy Chuck PD For WASH-FM
iHeartMedia Names Jeff Wyatt SVP/Programming For Baltimore, MD
Radio One DC Expands WMMJ-FM Listenership
April 19, 2017
CBS Radio's 'SPF" In Las Vegas Expands To Two Nights With Linkin Park
Magic 92.5/San Diego To Change Format To All Prince "Purple 92.5"
Clip Interactive Partners with Radio One & Reach Media
April 18, 2017
iHeartMedia San Antonio Names Russell Rush Program Director For KXXM
iHeartMedia San Francisco Names Matty Staudt Digital PD
WHLZ Turns On The Hot AC In Florence, SC
iHeartMedia Baton Rouge Names Brittany Tully PD For WYNK-FM
John Butler Joins Spotify
April 17, 2017
KUDL/Sacramento Rolls Outs EndFest 2017
United Stations Adds Danny Ocean As Affiliate Relations Representative
Amplifi Media & jâcapps Team Up To Form SonicAi
April 13, 2017
Cumulus Media Promotes Three Senior Executives
jacapps and Ford Bring the Connected Car to the 2017 NAB Show
April 12, 2017
Music News
Kendrick Lamar Earns Biggest Chart Debut of 2017, Announces Tour
Quick Hits: Tori Amos, Kings Of Leon
Quick Hits: Beyonce, Rise Against
Prince EP Release Blocked By Lawsuit
Paramore Announce New Album After Laughter
Controversy Over New Prince EP
Quick Hits: NIN, QOTSA, Coldplay, Big Boi
FMQB Retro-Active: A Look Back at ELP
The Chainsmokers Debut Atop Billboard 200
Quick Hits: Lady Gaga, Gotillaz, Bourbon & Beyond
Harry Styles to Release Solo Debut on May 12
Quick Hits: J. Geils, Gorillaz, Tool
The Chainsmokers & Drake Lead 2017 Billboard Music Award Nominees
Quick Hits: Kendrick Lamar, Prince's Estate, Lindsey Buckingham, Christine McVie
Rock Hall of Fame Adds Pearl Jam, ELO, Journey & More
FMQB NOW

Nikki Nite,
VP of Prog. & Ops,
Entercom/Austin

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!