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Sep 30, 2021
WMG Q4 2021 Earnings Report
Reported fourth-quarter and full-year financial results, demonstrating double-digit revenue growth and margin expansion.
Key Takeaways
Warner Music Group Corp. reported strong Q4 results, driven by continued momentum across traditional and emerging streaming platforms, and recovery in COVID-impacted areas. Total revenue grew by 22%, with digital revenue up 19%. The company delivered margin improvement and double-digit growth in Adjusted OIBDA and Adjusted EBITDA.
Total revenue increased by 22% (21% in constant currency) driven by strong digital revenue growth.
Digital revenue grew by 19% (18% in constant currency) across Recorded Music and Music Publishing.
Net income was $30 million, compared to $1 million in the prior-year quarter.
Adjusted EBITDA increased 34% to $237 million.
Revenue by Segment
Forward Guidance
Warner Music Group is excited to release new music from top artists and songwriters in 2022 and plans innovative moves and collaborations to strengthen its leadership position across digital and physical opportunities.
Positive Outlook
- Release incredible new music from the world’s hottest artists and most influential songwriters.
- Planning innovative moves and collaborations.
- Strengthen leadership position across a vast universe of opportunities.
- Focus on both digital and physical worlds.
- Delivering shareholder value through our financially disciplined investment strategy
Challenges Ahead
- Certain revenue was impacted by COVID.
- Increase in lower-margin artist services and expanded-rights revenue
- Increase in expenses related to restructuring and other transformation initiatives.
- Unrealized losses on the mark-to-market of certain investments
Historical Earnings Impact
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Avg. Return Before/After Earnings
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