Business
Warner Music Group Corp. Reports Results for Fiscal Fourth Quarter and Full Year Ended September 30, 2021
Financial Highlights Continued Momentum Across Traditional and Emerging Streaming Platforms Drove Double-Digit Digital Revenue Growth for the Quarter and Full
About this update from Warner Music Group Corp.
[{"type":"text","content":"Financial Highlights Continued Momentum Across Traditional and Emerging Streaming Platforms Drove Double-Digit Digital Revenue Growth for the Quarter and Full Year Recovery in COVID-Impacted Areas Led by Strong Growth in Artist Services and Physical Revenue Delivered Margin Improvement and Double-Digit Growth in Adjusted OIBDA and Adjusted EBITDARobust Free Cash Flow Conversion and Growth Underpinned by Strong Operating Leverage and Financially Disciplined Investments For the three months ended September 30, 2021 Total revenue grew 22% or 21% in constant currencyDigital revenue grew 19% or 18% in constant currencyNet income was $30 million versus $1 million in the prior-year quarterOIBDA increased 15% to $179 million versus $155 million in the prior-year quarterAdjusted OIBDA increased 25% to $218 million versus $174 million in the prior-year quarterAdjusted EBITDA increased 34% to $237 million versus $177 million in the prior-year quarter For the twelve months ended September 30, 2021 Total revenue grew 19% or 15% in constant currencyDigital revenue grew 22% or 19% in constant currencyNet income was $307 million versus net loss of $470 million in the prior yearOIBDA was $915 million versus $32 million in the prior yearAdjusted OIBDA increased 29% to $1,018 million versus $790 million in the prior yearAdjusted EBITDA increased 30% to $1,090 million versus $837 million in the prior year NEW YORK, Nov. 15, 2021 (GLOBE NEWSWIRE) -- Warner Music Group Corp. today announced its fourth-quarter and full-year financial results for the periods ended September 30, 2021. “Music is essential to billions of people across the globe. But now, more than ever, great talent needs help to cut through the noise. By delivering for new artists and songwriters, returning superstars, and global legends, we’ve also delivered outstanding results in 2021,” said Steve Cooper, CEO, Warner Music Group. “Looking to 2022, we’re excited to release incredible new music from the world’s hottest artists and most influential songwriters. We’re also planning innovative moves and collaborations that will strengthen our leadership position across a vast universe of opportunities, in both the digital and physical worlds.” “Our strong fourth-quarter results put an exclamation point on an outstanding year,” said Lou Dickler, Acting CFO, Warner Music Group. “Even as certa...