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
Pandora Revenue, Listenership Rises In Q1
In Brief - April 29, 2016
April 28, 2016
SiriusXM Reports First Quarter 2016 Results
CMG Tulsa Names Nathan Reed Director of Branding & Programming at KRAV-FM
Cumulus Media Shreveport Ups Julie Kansy to PD at KQHN
ASCAP Revenue Tops $1 Billion For Second Straight Year
April 27, 2016
Blaire Galaton-Kelleher Joins “The Jack Diamond Morning Show” On WRQX/Washington, D.C
Premiere Networks To Provide Distribution For Aiir
Radio Milwaukee Names Glenn Kleiman Executive Director
In Brief - April 27, 2016
April 26, 2016
CBS Radio Las Vegas Promotes JB King to Operations Manager
KLUC/Las Vegas Taps John Moug As New Afternoon Drive Host
Donna Gryn Promoted to VP of Marketing at Republic Records
KIIS FM/Los Angeles Announces Artists Performing At Wango Tango Pre-Show Village
In Brief - April 26, 2016
April 25, 2016
KROQ/Los Angeles Annouces Weanie Roast 2016
Kristie McIntyre Returns To D.C. Airwaves For Nights On WRQX
Karen Mateo Exits Her Post at CBS Radio
Beasley Las Vegas Names Mark Sturcken Director Of Sales
April 22, 2016
eQB NOW
Radio Pays Tribute To The Musical Legacy of Prince
Hubbard Radio Elevates Jeremy Sinon To Director of Digital Strategy
In Brief - April 22, 2016
April 21, 2016
Music Icon Prince Has Passed Away
Music News
FMQB Photo Pass: Pearl Jam
Blink-182 Announce Album, Tour With Matt Skiba
Drake Expands Tour, Reveals Tracklist For Views
Quick Hits: Demi Lovato & Joe Jonas, Cash Cash, Whitney Houston, Deftones' Chino Moreno
Quick Hits: Justin Bieber, Lady Gaga & Elton John, Prince, Thrival Festival, B.o.B
Quick Hits: Bumbershoot Festival, Fetty Wap, HARD Summer, Jenny Lewis, Bayside
Prince Returns To The Top Of The Billboard 200
Drake Announces Summer Sixteen Tour, OVO Fest
Quick Hits: Billboard Music Awards, Guns N' Roses, Tegan and Sara, Twin Peaks, Jennifer Hudson, Billy Paul
Beyoncé Releases New Album Lemonade Via Tidal
Tributes Continue To Pour In For Prince
Entertainment World Reacts to Sudden Loss of Prince
Quick Hits: Mumford & Sons, P!nk, Beyoncé, Mariah Carey
Meghan Trainor Announces Untouchable Tour
AC/DC's Brian Johnson Releases Statement
FMQB NOW

Nick Petropoulos
Head of Promotion
Glassnote Music

    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!