Tue. May 18th, 2021

Warner Music Group had a flat yr in calendar 2020 – however the firm’s 2021 is already off to a flyer.

In the present day (Could 4), WMG introduced its fiscal outcomes for the three months to finish of March (its fiscal Q2, however calendar Q1).

Quarterly recorded music revenues – together with streaming, digital and bodily gross sales, and ancillary revenue – surged above a billion {dollars} at $1.059bn, up 16.8% (or 12.9% in fixed foreign money).

Inside this recorded music determine was $722 million from streaming, a quantity which was up by 23.2% YoY (or 20.3% at fixed foreign money) compared to calendar Q1 2020.

Warner mentioned this bump in streaming income partly mirrored “accelerated income progress in rising streaming platforms resembling Fb, TikTok, and Peloton”.

One other vital component of Warner’s recorded music tally, bodily music gross sales, have been up 25.5% YoY (or 19.2% in fixed foreign money) to $118 million within the quarter.

Warner mentioned that its biggest-selling artists for recorded music within the quarter included Dua Lipa (pictured), Michael Bublé, Ed Sheeran, Ava Max and Japanese rock band The Yellow Monkey.

WMG’s music publishing operation – Warner Chappell Music – grew its revenues to generate $192 million in calendar Q1 2021, up 15.7% YoY (or 11.6% in fixed foreign money).

The star performer for Chappell within the quarter have been its digital revenues, which climbed by $30m vs. the identical interval of 2020.

General Warner Music Group revenues – throughout recorded music, music publishing and extra – hit $1.250 billion within the quarter, up 16.7% YoY (or 12.8% in fixed foreign money).

Steve Cooper, CEO, Warner Music Group, mentioned: “Following a powerful first quarter, I’m completely happy to report that our momentum continued in [fiscal] Q2, and our enterprise is stronger than ever. Regardless of the continuing pandemic, we generated double-digit income progress in each Recorded Music and Music Publishing.

“Our success was pushed by chart-topping new releases from our unbelievable artists and songwriters, in addition to daring and imaginative execution from our world-class operators. We’re enthusiastic about the remainder of yr, as we’ve a unbelievable slate of latest music coming from established superstars and rising expertise.”

“I’m completely happy to report that our momentum continued in [fiscal] Q2, and our enterprise is stronger than ever.”

Steve Cooper, Warner Music Group

Eric Levin, Government Vice President and CFO, Warner Music Group, added: “Within the second quarter, the continued energy of our core streaming enterprise was bolstered by spectacular progress in income from rising streaming platforms, which drove wholesome margins and free money circulation.

“We stay up for delivering long-term worth as we proceed to put money into culture-shifting expertise, modern know-how, and dynamic new partnerships.”Music Enterprise Worldwide

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Picture Supply : www.musicbusinessworldwide.com – https://www.musicbusinessworldwide.com/warner-music-streaming-revenues-leap-up-20-yoy-in-calendar-q1/

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