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Jun 30, 2021
WMG Q3 2021 Earnings Report
Reported strong third-quarter results, propelled by streaming acceleration and recovery in COVID-impacted areas. Total revenue, digital revenue, and adjusted OIBDA experienced significant growth, driven by chart-topping new music and margin expansion.
Key Takeaways
Warner Music Group (WMG) reported strong Q3 2021 results, with total revenue up 33% and digital revenue up 29%. Net income was $61 million, a significant improvement from the prior-year quarter's net loss of $519 million. Adjusted OIBDA increased by 58% to $263 million, driven by strong operating leverage. The company highlighted impressive streaming numbers and recovery in COVID-impacted areas.
Total revenue grew by 33%, driven by streaming acceleration and recovery in COVID-impacted areas.
Recorded Music streaming revenue increased by 27%, powered by chart-topping new music.
Digital revenue grew by 29%, representing 69.3% of total revenue.
Net income was $61 million, a significant improvement from the prior-year quarter's net loss of $519 million.
Revenue by Segment
Forward Guidance
This communication includes forward-looking statements that reflect the current views of Warner Music Group about future events and financial performance.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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