Warner Music Group (WMG) continues its optimistic trajectory with its fiscal Q4 (calendar Q3) 2024 results, showing robust performance in subscription streaming and overall revenue growth.
WMG recorded subscription streaming revenues of $645 million in calendar Q3, up 10.6% year-over-year (YoY) on a normalized constant currency basis. Total quarterly global revenues reached $1.630 billion, marking a 6% YoY increase when adjusted for specific impacts, including the termination of its BMG distribution agreement and a digital license renewal.
Warner’s recorded music revenues grew 6.3% YoY to $1.338 billion, driven by gains in digital, physical, and licensing segments. Music publishing revenue also rose 5% YoY to $295 million. CEO Robert Kyncl highlighted WMG’s adaptability, focusing on fostering artist growth and global impact.
With a net income of $48 million and adjusted OIBDA up 11% YoY to $353 million, WMG remains positioned for sustained growth in a dynamic music market.
