WMG Q2 2021 Earnings Report
Key Takeaways
Warner Music Group Corp. reported a 17% increase in total revenue for the quarter ended March 31, 2021. Net income was $117 million, a significant improvement from the prior-year quarter's net loss of $74 million. The company's success was driven by chart-topping new releases and strong performance in both Recorded Music and Music Publishing.
Total revenue grew by 17%, or 13% in constant currency.
Digital revenue grew by 23%, or 20% in constant currency.
Net income was $117 million, a significant improvement from the prior-year quarter's net loss of $74 million.
OIBDA increased to $228 million, compared to $12 million in the prior-year quarter.
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WMG Revenue by Segment
Forward Guidance
Company is excited about the rest of the year, as they have a fantastic slate of new music coming from established superstars and emerging talent