Business
Warner Music Group Corp. Reports Results for Fiscal Second Quarter Ended March 31, 2025
Financial Highlights Q2 Performance Driven by Revenue Growth Across Recorded Music and Music PublishingCost Savings Plans on Track, With Reinvestment
About this update from Warner Music Group Corp.
[{"type":"text","content":"Financial Highlights Q2 Performance Driven by Revenue Growth Across Recorded Music and Music PublishingCost Savings Plans on Track, With Reinvestment Initiatives AcceleratingYear-to-Date Operating Cash Flow and Free Cash Flow Increased by 53% and 59%, Respectively For the three months ended March 31, 2025 Total revenue decreased 1%, or increased 1% in constant currencyNet income decreased 63% to $36 million versus $96 million in the prior-year quarterOperating income increased 41% to $168 million versus $119 million in the prior-year quarterAdjusted OIBDA decreased 3% to $303 million, versus $312 million in the prior-year quarter, or 1% in constant currencyCash provided by operating activities increased to $69 million from cash used in operating activities of $31 million in the prior-year quarter NEW YORK, May 08, 2025 (GLOBE NEWSWIRE) -- Warner Music Group Corp. today announced its second-quarter financial results for the period ended March 31, 2025. “Our strategy is starting to bear fruit, with our strongest chart presence in two years, translating to expanding new release market share in the US. As a result, our true strength this quarter was partially obscured by challenging comparisons with last year’s outperformance. As we replicate our strategy across other labels and geographies, and drive a virtuous cycle of greater reinvestment, we expect to deliver lasting value for artists and songwriters, and sustained growth and profitability for shareholders,” said Robert Kyncl, CEO of Warner Music Group. Total WMG Total WMG Summary Results (dollars in millions) For the Three Months Ended March 31, 2025 For the Three Months Ended March 31, 2024 % Change For the Six Months Ended March 31, 2025 For the Six Months Ended March 31, 2024 % Change (unaudited) (unaudited) (unaudited) (unaudited) Revenue$1,484 $1,494 -1% $3,150 $3,242 -3%Recorded Music revenue 1,175 1,189 -1% 2,520 2,634 -4%Music Publishing revenue 310 306 1% 633 610 4%Operating income 168 119 41% 382 473 -19%Adjusted OIBDA(1) 303 312 -3% 666 763 -13%Net income 36 96 -63% 277 289 -4%Net cash provided by (used for) operating activities 69 (31) —% 401 262 53%Free Cash Flow 33 (57) —% 329 207 59% (1) See \"Supplemental Disclosures Regarding Non-GAAP Financial Measures\" at the end of this release for details regarding this measure. Revenue was down 0.7% (or up 1.2% in constan...