Inferra AI / Company / WMG
Warner Music Group Corp.
WMG · Industrials
Last earnings Aug 5, 2026
Key results
Total revenuequarter
9%
Total revenue increased 9%, or 7% in constant currency Net loss was $16 million compared to
SEC original ↗Warner Music Group Corp. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
Net incomequarter
$141 million
net income of $141 million in the prior-ye ar quar ter
SEC original ↗Warner Music Group Corp. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
Operating incomequarter
18%
Operating income decreased 18% to $169 million versus $207 million in the prior-year quarter Adjusted OIBDA increased 18% to $373 million versus $316 million in the prior-year quarter
SEC original ↗Warner Music Group Corp. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
Revenuequarter
8.7%
Revenue w as up 8.7% (or 7.0% in constant currency).
SEC original ↗Warner Music Group Corp. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
Digital revenuequarter
5.3%
Digital revenue increased 5.3% (or 4.1% in constant currency), driven by an increase in streaming revenue of 4.0% (or 2.9% in constant currency).
SEC original ↗Warner Music Group Corp. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
Recorded Music revenuequarter
$16 million
Recorded Music revenue includes $16 million of digital revenue from the settlement of certain related copyright infringement cases (the Copyright Settlement ), and the prior-year quarter included $22 million of incremental Recorded Music streaming revenue from a digital service provider ( DSP ) for performance obligations satisfied in previous reporting periods (the DSP True-Up Payments ).
SEC original ↗Warner Music Group Corp. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
Consistent with the prior quarters, Recorded Music revenue growth was unfavorably impacted by the termination of the distribution agreement with BMG (the BMG Termination ), which resulted in $14 million less Recorded Music revenue compared to the prior-year quarter.
SEC original ↗Warner Music Group Corp. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
Excluding these items, total revenue increased 10.2% (or 8.5% in constant currency), and digital revenue increased 6.4% (or 5.2% in constant currency), driven by an increase in streaming revenue of 6.6% (or 5.5% in constant currency).
SEC original ↗Warner Music Group Corp. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
AI analysis
Q2 2025 · reported Aug 7, 2025
Based on: Earnings release + parent 8-K + 10-Q — transcript not held
Headline figures
| Metric | Q2 2025 | Prior qtr | Year ago |
|---|---|---|---|
| Total revenue | 9% | — | — |
| Net income | $141 million | — | — |
| Operating income | 18% | — | — |
| Revenue | 8.7% | — | — |
| Digital revenue | 5.3% | — | — |
| Recorded Music revenue | $16 million | — | — |
Guidance · company-stated
No guidance located in the held release
Capital allocation
The net loss was due to the factors described above, as well as the impact of exchange rates on the Company s Euro-denominated debt resulting in a $70 million loss in the quarter compared to a $7 million gain in the prior-year quarter, and realized and unrealized losses on hedging activity of $8 million in the quarter compared to a gain of $1 million in the prior-year quarter.
Company-stated claims
Historical · increased $96 million, or 209% · other
“Cash provided by operating activities increased $96 million, or 209%, to $142 million in the quarter compared to $46 million in the prior-year quarter.”
EX-99 · Aug 5, 2026Historical · CAGR of 21% · revenue
“From 2020 to 2024, global vinyl revenue grew at a CAGR of 21%.”
10-K · Nov 20, 2025Event summary
Warner Music Group Corp. — Earnings release (2025-08-07)
Based on: Earnings release + parent 8-K + 10-Q — transcript not held
Guidance & outlook
No guidance located in the held release
Capital allocation
The net loss was due to the factors described above, as well as the impact of exchange rates on the Company s Euro-denominated debt resulting in a $70 million loss in the quarter compared to a $7 million gain in the prior-year quarter, and realized and unrealized losses on hedging activity of $8 million in the quarter compared to a gain of $1 million in the prior-year quarter.
SEC original ↗Warner Music Group Corp. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
As of June 30, 2025, the Company reported a cash balance of $527 million, total debt of $4.363 billion and net debt (defined as total debt, net of deferred financing costs, premiums and discounts, minus cash and equivalents) of $3.836 billion.
SEC original ↗Warner Music Group Corp. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
Total debt includes $302 million of subsidiary debt acquired in our acquisition of Tempo Music Holdings, LLC ( Tempo ).
SEC original ↗Warner Music Group Corp. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
The debt is secured only by certain music rights owned by Tempo and is nonrecourse to the Company and its subsidiaries, other than Tempo.
SEC original ↗Warner Music Group Corp. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
Free Cash Flow, as defined below, decreased to $7 million from $160 million in the prior-year quarter, primarily due to the factors affecting cash provided by operating activities described above and due to an increase in capital expenditures of 39% to $39 million from $28 million in the prior-year quarter, driven by investments in technology.
SEC original ↗Warner Music Group Corp. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
Recent Announcements In addition, the Company also announced today that its Board of Directors declared a regular quarterly cash dividend of $0.19 per share on the Company s Class A Common Stock and Class B Common Stock.
SEC original ↗Warner Music Group Corp. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
Strategy & priorities
REPORTS RESULTS FOR FISCAL THIRD QUARTER ENDED JUNE 30, 2025 Financial Highlights Revenue Reacceleration across Recorded Music and Music Publishing Supports Double-Digit Adjusted OIBDA Growth and Margin Expansion Recorded Music Streaming Performance Underpinned by Strong Market Share Gains in the U.
SEC original ↗Warner Music Group Corp. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
This quarter we delivered massive chart hits, breakthrough stars, strong revenue growth, and market share gains all of which show our strategy is working, said Robert Kyncl, CEO, Warner Music Group.
SEC original ↗Warner Music Group Corp. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
As we continue to evolve our company, we're focusing on the artists, songwriters, and markets with the greatest potential, while expanding our iconic catalog, and building the dynamic teams and tools that will help our talent have the biggest global impact.
SEC original ↗Warner Music Group Corp. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
Our strong performance this quarter reflects our commitment to investing in great music, driving greater efficiency, and creating long-term value for our artists, songwriters, and shareholders, said Armin Zerza, CFO, Warner Music Group.
SEC original ↗Warner Music Group Corp. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
We re focused on accelerating growth in our core business, expanding margins, and deploying capital in ways that strengthen our creative and financial impact.
SEC original ↗Warner Music Group Corp. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
Risks & headwinds
Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties, and other factors that could cause actual results to differ materially from our expectations.
SEC original ↗Warner Music Group Corp. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
Legal Proceedings 60 Item 1A.
SEC original ↗Warner Music Group Corp. — 10-Q Quarterly report10-QAug 5, 2026
Commitments and Contingencies From time to time, the Company is involved in claims and legal proceedings that arise in the ordinary course of business.
SEC original ↗Warner Music Group Corp. — 10-Q Quarterly report10-QAug 5, 2026
The Company is currently subject to several such claims and legal proceedings.
SEC original ↗Warner Music Group Corp. — 10-Q Quarterly report10-QAug 5, 2026
However, litigation is subject to inherent uncertainties, and there can be no assurances that the Company s defenses will be successful or that any such lawsuit or claim would not have a material adverse impact on the Company s business, financial condition, cash flows and results of operations in a particular period.
SEC original ↗Warner Music Group Corp. — 10-Q Quarterly report10-QAug 5, 2026
Competitors
Competitors & peers
Same GICS sector — classification peers, not declared competitors
Filings
26 documentsEarnings releases
9 documentsPresentations
0 documentsNo presentations for Warner Music Group Corp. are held in this edition of the library.
Transcripts
0 documentsNo transcripts for Warner Music Group Corp. are held in this edition of the library.
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