Warner Music Group Reports Strong Quarter
Highlights fromWMG second-quarter results for the period ended March 31, 2015:
- Total revenue grew 4% or 13% on a constant-currency basis
- Recorded Music revenue was up 5% or 15% on a constant-currency basis
- Digital revenue increased 1% or 10% on a constant-currency basis
- OIBDA was $121 million versus $74 million in the prior-year quarter
- Net income was $19 million versus a net loss of $59 million in the prior-year quarter
"We experienced significant revenue growth this quarter across key segments of our business – in particular Recorded Music, across the U.S. and international and across digital and physical – capping off a strong first half of our fiscal year" said Stephen Cooper, Warner Music Group’s CEO. "Notably, in this quarter we saw continued growth in streaming revenue which surpassed download revenue for the first time in the history of our recorded music business."
The full report.