Earnings summaries and quarterly performance for Warner Music Group.
Executive leadership at Warner Music Group.
Robert Kyncl
Detailed
Chief Executive Officer
CEO
AZ
Armin Zerza
Executive Vice President and Chief Financial Officer
CM
Carianne Marshall
Co-Chair and Chief Operating Officer, Warner Chappell Music
CH
Carletta Higginson
Executive Vice President and Chief Digital Officer
GM
Guy Moot
Co-Chair and Chief Executive Officer, Warner Chappell Music
JS
James Steven
Executive Vice President, Chief Communications Officer
MO
Maria Osherova
Executive Vice President and Chief People Officer
PM
Paul M. Robinson
Executive Vice President and General Counsel
TM
Timothy Matusch
Executive Vice President, Strategy and Operations
Board of directors at Warner Music Group.
CK
Ceci Kurzman
Detailed
Director
DA
Donald A. Wagner
Detailed
Director
LB
Len Blavatnik
Detailed
Vice Chairman and Director
LB
Lincoln Benet
Detailed
Director
MD
Mathias Döpfner
Detailed
Director
ML
Michael Lynton
Detailed
Chairman of the Board
ND
Nancy Dubuc
Detailed
Director
NH
Noreena Hertz
Detailed
Director
VB
Val Blavatnik
Detailed
Director
YK
Ynon Kreiz
Detailed
Director
Research analysts who have asked questions during Warner Music Group earnings calls.
BB
Benjamin Black
Deutsche Bank AG
9 questions for WMG
Also covers: APP, BMBL, COMP +10 more
Kutgun Maral
Evercore ISI
9 questions for WMG
Also covers: ATUS, CHTR, CMCSA +11 more
Michael Morris
Guggenheim Partners
6 questions for WMG
Also covers: DIS, FOXA, NFLX +5 more
Peter Supino
Wolfe Research
6 questions for WMG
Also covers: CHTR, DIS, FWONK +12 more
BL
Batya Levi
UBS
5 questions for WMG
Also covers: AMT, BCE, CCI +6 more
Stephen Laszczyk
Goldman Sachs
5 questions for WMG
Also covers: CNK, FNKO, FWONK +9 more
Benjamin Swinburne
Morgan Stanley
4 questions for WMG
Also covers: AMT, BATRA, CCI +23 more
Cameron Mansson-Perrone
Morgan Stanley
4 questions for WMG
Also covers: EB, LYV, MSGE +2 more
Douglas Creutz
TD Cowen
4 questions for WMG
Also covers: CRSR, EA, PLTK +1 more
IM
Ian Moore
Bernstein Research
4 questions for WMG
Also covers: DKNG, LYV
RG
Richard Greenfield
LightShed Partners
3 questions for WMG
Also covers: NFLX, PARA, PINS +7 more
DK
David Karnovsky
JPMorgan Chase & Co.
2 questions for WMG
Also covers: CCO, CNK, DIS +17 more
Michael Morris
Guggenheim Securities
2 questions for WMG
Also covers: SNAP, SPOT
V
Venkatakrishnan
Barclays
2 questions for WMG
DB
Devin Brisco
Wolfe Research, LLC
1 question for WMG
Also covers: UNVGY
JH
James Heaney
Jefferies
1 question for WMG
Also covers: AOS, APP, EA +11 more
Jason Bazinet
Citigroup
1 question for WMG
Also covers: APP, CTV, DIS +19 more
Jessica Reif Cohen
Bank of America Merrill Lynch
1 question for WMG
Also covers: ATUS, CMCSA, FOXA +4 more
JR
Jessica Reif Ehrlich
Bank of America Securities
1 question for WMG
Also covers: CHTR, CMCSA, DIS +6 more
KV
Kannan Venkateshwar
Barclays PLC
1 question for WMG
Also covers: DIS, NYT, SPOT +5 more
Recent press releases and 8-K filings for WMG.
Warner Music Group Reports Strong Q1 2026 Results, Expands AI Partnerships and M&A Capacity
WMG
Earnings
Revenue Acceleration/Inflection
New Projects/Investments
- Warner Music Group (WMG) reported strong Q1 2026 results with 7% total revenue growth, 22% adjusted OIBDA growth, and a 310 basis point margin increase to 25%.
- The company achieved approximately 1 percentage point of U.S. streaming market share growth over the prior year quarter and a 3 percentage point increase on Spotify's Top 200 chart fiscal year to date.
- WMG is expanding its AI strategy, renewing its deal with TikTok and signing new partnerships with Suno, Stability, KLAY, and Udio, with the Suno deal anticipated to be a material growth driver from fiscal year 2027.
- The joint venture with Bain for catalog acquisitions has increased its total capacity from $1.2 billion to approximately $1.65 billion, with significant deployment expected by the end of the fiscal year.
1 day ago
Warner Music Group Reports Strong Q1 2026 Performance and Strategic Updates
WMG
Earnings
New Projects/Investments
Guidance Update
- Warner Music Group delivered a third consecutive quarter of strong, profitable growth in Q1 2026, with total revenue increasing 7% and total adjusted OIBDA rising 22%, leading to a 310 basis point margin increase. Operating cash flow grew 33%, resulting in nearly 100% conversion of adjusted OIBDA.
- The company is actively leveraging AI, having signed deals with Suno, Stability, KLAY, and Udio based on principles requiring licensed models, proper reflection of music value, and artist opt-in. These AI partnerships are expected to be a material top and bottom-line growth driver starting in fiscal 2027.
- WMG and Bain increased their equity commitments by $100 million each, expanding their joint venture's total capacity from $1.2 billion to approximately $1.65 billion for high-quality, accretive catalog acquisitions, with plans to deploy a significant portion by the end of the fiscal year.
- Management anticipates achieving a margin in the mid-20s% in the short term and a longer-term goal in the high 20s%, supported by a cost savings plan expected to contribute 150-200 basis points to margin in fiscal 2026, along with DSP pricing and accretive AI revenue.
1 day ago
Warner Music Group Reports Strong Q1 2026 Results and Advances AI and M&A Strategies
WMG
Earnings
Revenue Acceleration/Inflection
New Projects/Investments
- Warner Music Group delivered a strong Q1 2026, with total revenue increasing 7%, total adjusted OIBDA up 22%, and margin expanding by 310 basis points.
- The company reported approximately 1 percentage point of U.S. streaming market share growth and 11% (or 9% adjusted) growth in recorded music subscription streaming.
- WMG has entered into AI deals with Suno, Stability, KLAY, and Udio, expecting the Suno partnership to be a material top and bottom-line growth driver starting in fiscal year 2027.
- The joint venture with Bain for catalog acquisitions increased its total capacity from $1.2 billion to approximately $1.65 billion, with plans to deploy a significant portion by the end of the fiscal year. The company also targets a margin in the mid-20s% in the short term and high 20s% longer term, supported by a cost savings plan.
1 day ago
Warner Music Group Corp. Reports Q1 2026 Results
WMG
Earnings
Dividends
Guidance Update
- Total revenue for the fiscal first quarter ended December 31, 2025, increased 10% to $1,840 million compared to the prior-year quarter.
- Operating income grew 35% to $288 million, and Adjusted OIBDA increased 28% to $463 million for the quarter.
- Net income for the quarter was $175 million, a 27% decrease from $241 million in the prior-year quarter.
- Cash provided by operating activities increased 33% to $440 million, and Free Cash Flow rose to $420 million.
- The Board of Directors declared a regular quarterly cash dividend of $0.19 per share, payable on March 3, 2026.
1 day ago
Warner Music Group Reports Fiscal First Quarter 2026 Results
WMG
Earnings
Guidance Update
New Projects/Investments
- Warner Music Group reported a 10% increase in total revenue to $1.84 billion for the fiscal first quarter ended December 31, 2025, or 7% in constant currency.
- Operating income grew 35% to $288 million, and Adjusted OIBDA increased 28% to $463 million.
- Net income for the quarter was $175 million, a decrease from $241 million in the prior-year quarter.
- Cash provided by operating activities increased 33% to $440 million.
- The company's 2026 outlook projects 150 to 200 basis points of margin improvement driven by strategic investments and cost savings initiatives.
1 day ago
Warner Music Group Settles Lawsuit and Partners with AI Music Generator Suno
WMG
Legal Proceedings
New Projects/Investments
- Warner Music Group (WMG) has settled its copyright infringement lawsuit against AI music generator Suno, marking the first major record label to officially partner with an AI music platform.
- The agreement allows Suno to use licensed portions of WMG's catalog to train AI models, which will replace current versions in 2026, and introduces paid user tiers with download limits.
- This partnership includes an opt-in framework that gives artists control over the use of their name, likeness, voice, and compositions in AI-generated music, opening new revenue streams and fan engagement opportunities.
- WMG transferred its concert-discovery platform Songkick to Suno, enhancing the integration between live music and AI-generated content.
- This collaboration is viewed as a landmark shift from conflict to cooperation between traditional music rights holders and AI startups, aiming to balance AI innovation with artist rights and legitimize Suno's operations.
Nov 25, 2025, 8:14 PM
Warner Music Group and Suno Announce AI Music Partnership
WMG
New Projects/Investments
Legal Proceedings
M&A
- Warner Music Group (WMG) and Suno announced a partnership on November 25, 2025, to develop next-generation licensed AI music aimed at empowering the creative community and opening new revenue opportunities for artists and songwriters.
- The agreement also settles previous litigation between the companies.
- In 2026, Suno will launch new, more advanced and licensed models, requiring a paid account for audio downloads, with free tier songs becoming non-downloadable.
- Suno acquired Songkick, a live music and concert-discovery platform, from WMG.
- Artists and songwriters will maintain full control over whether and how their names, images, likenesses, voices, and compositions are used in new AI-generated music.
Nov 25, 2025, 7:00 PM
Warner Music Group Reports Strong Q4 2025 Revenue Amid Profitability Concerns
WMG
Earnings
Revenue Acceleration/Inflection
Profit Warning
- Warner Music Group reported Q4 2025 revenue of $1.87 billion, marking a 14.6% year-over-year increase driven by market share gains and its popular artist roster.
- Despite strong revenue growth, earnings per share for Q4 2025 missed estimates at $0.21, resulting in a -40% earnings surprise.
- The company faces profitability and leverage concerns, with its operating margin declining to 7.7% in Q4 2025 from 8.8% in the prior year, and a high debt-to-equity ratio of 7.84.
- WMG's 2025 10-K report indicates that 81% of total revenues originated from Recorded Music and 19% from Music Publishing, with over half of recorded music revenues generated outside the United States.
- Strategic initiatives include a restructuring plan aiming for $300 million in annualized pre-tax cost savings by the end of fiscal 2027 and exploring new revenue streams such as artificial intelligence.
Nov 20, 2025, 6:23 PM
Warner Music Group Reports Strong Q4 2025 Results and Outlines 2026 Growth Strategy
WMG
Earnings
Guidance Update
M&A
- Warner Music Group reported record-high quarterly revenue in Q4 2025, achieving its highest year-over-year growth in nearly two years with total revenue increasing by 13% and adjusted OIBDA rising by 12%. For the full fiscal year 2025, the company delivered 8% growth in both total revenue and adjusted OIBDA.
- The company has secured wholesale price increases with four of the largest Digital Service Providers (DSPs), which are set to begin impacting results in calendar year 2026.
- WMG is implementing a reorganization and cost savings program projected to deliver $200 million in annualized savings in 2026, increasing to $300 million in 2027.
- A robust M&A pipeline, particularly focused on the catalog business, is expected to materialize starting in calendar year 2026, supported by a joint venture with Bain Capital providing over $1 billion in funding.
- For 2026, the company anticipates strong top-line growth and 150-200 basis points of adjusted OIBDA margin improvement, driven by cost savings and organic growth.
Nov 20, 2025, 1:30 PM
Warner Music Group Reports Strong Q4 2025 Results and Outlines Future Growth Strategy
WMG
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Warner Music Group reported a 13% increase in total revenue and 8.4% growth in adjusted recorded music subscription streaming for Q4 2025, alongside a 12% rise in adjusted OIBDA. The company also achieved global market share gains, including a 0.6 percentage point increase in the U.S. and a 6 percentage point jump in its Spotify Top 200 share compared to fiscal 2024.
- The company anticipates future growth from wholesale price increases from new DSP deals starting in calendar year 2026 , accelerated growth in its distribution business from 2026 , and accretive M&A, supported by a joint venture with Bain Capital providing over $1 billion in funding. WMG expects to achieve $200 million in annualized cost savings in 2026, increasing to $300 million in 2027, contributing to an expected 150-200 basis points of adjusted OIBDA margin improvement in 2026 and targeting mid to high 20s margins long-term.
- WMG is actively engaging with AI platforms, having signed deals with partners like Udio, Stability AI, and Clay, based on principles of licensed models, fair economic terms, and artist/songwriter opt-in for use of their likeness. The company views AI as a significant incremental opportunity for revenue growth.
Nov 20, 2025, 1:30 PM
Quarterly earnings call transcripts for Warner Music Group.
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