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
DTS To Acquire iBiquity Digital Corporation
Peter Schwartz Returns To CBS Radio San Diego As SVP/Market Manager & Director of Sales
Alpha Media Closes Purchase On Morris Communications
In Brief - September 2, 2015
September 1, 2014
National Radio Hall Of Fame Class Of 2015 Revealed
On The Verge Artist Hailee Steinfeld Debuts As Highest Female Solo Artist On Mediabase
In Brief - September 1, 2015
August 31, 2015
Scooter Braun Joins NASH Next Country Music Talent Competition
In Brief - August 31, 2015
August 28, 2015
iHeartMedia Promotes Hardin, Zellner and Maynard
WZMP (96.5 AMP Radio)/Philly New Line-Up Announced
KLUC/Las Vegas Adds Kayla To Chet Buchanan & The Morning Zoo
88Nine Radio Milwaukee Promotes Ken Sumka To APD & Justin Barney to MD
Macklemore & Ryan Lewis, iHeartRadio joins Chegg for Music101 Series
Mark “Shark” Ediss Named Afternoon Drive Host At Y100/Savannah
August 27, 2015
Cumulus Goes Underground Alternative In New Orleans
August 26, 2015
Subaru Embraces HD Radio Receivers
Cort Johnson Named APD/Morning Co-Host on 101.9 KINK/Portland
Howard Stern Presents "Booey 25" On SiriusXM Channels
August 25, 2015
Sony Music Entertainment Acquires Century Group
UMG Names Jeffrey Remedios President & CEO/Universal Music Canada
Where Hip Hop Lives App Now Available to International Audiences
August 24, 2015
Leslie Scott Named Program Director Of KNDD/Seattle
Music News
Rick Ross to Drop Surprise LP This Week
Quick Hits: Power 105.1 Powerhouse, Alabama Shakes, Garbage, Avril Lavgine / Chad Kroeger, Neko Case
Quick Hits: Miley Cyrus / Saturday Night Live, Made In America Festival, Tori Kelly, The SpongeBob Musical
Taylor Swift Wins Big At MTV VMAs
Rockers Disturbed Earn Fifth #1 Album
FMQB Photo Pass: Van Halen
Quick Hits: Taylor Swift, Kanye West, Justin Timberlake, Katy Perry, Justin Bieber
Justin Bieber Debuts New Single
Quick Hits: Nicki Minaj, Adele, OMI
Demi Lovato Feeling "Confident" on Fifth LP
Quick Hits: Justin Bieber, Mariah Carey, Omarion, Soundgarden
Pharrell, Demi Lovato & More Added To MTV VMAs Lineup
Quick Hits: Lady Gaga, HBO, Maroon 5, Nick Jonas
MTV To Honor Kanye West
Quick Hits: One Direction, Missy Elliott / The Voice, Azealia Banks, Meg Myers, Coheed and Cambria, Ben Folds
FMQB NOW

Mike McVay
SVP/Content & Programming
Cumulus Media

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!