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# Warner Music Group Posts Solid Q3 2018, Digital Up 14%
- URL: https://www.hypebot.com/warner-music-group-posts-solid-q3-2018-digital-up-16/
- Published: 2018-08-07T08:20:00.000Z
- Updated: 2018-08-07T08:20:00.000Z
- Description: [UPDATE 2] Warner Music Group revenue grew 1.9% on a constant currency basis in Q3 2018, according to a financials filed on Tuesday. That growth was driven by the sale. Continue reading [https://www.hypebot.com/hypebot/2018/08/warner-music-group-posts-solid-q3-2018-digital-up-16.html]
- Author: Bruce Houghton
- Tags: Major Labels, Music Business, music, musician, musicians, WMG, #wp, #wp-post, #Import 2026-01-21 10:00

[![Wmg](http://hypebot.typepad.com/.a/6a00d83451b36c69e2022ad360e8a2200c-200wi "Wmg")](http://hypebot.typepad.com/.a/6a00d83451b36c69e2022ad360e8a2200c-popup?ref=hypebot.com)\[UPDATE 2\] Warner Music Group revenue grew 1.9% on a constant currency basis in Q3 2018, according to a financials filed on Tuesday. That growth was driven by the s[ale of Spotify stock](https://www.hypebot.com/wmg-sells-all-spotify-stock-pays-artists-labels-126m/) and 14.1% growth in digital revenue.“Amazing new music from our artists and songwriters and great execution from our global operators have driven our year-to-date revenue up 12%, or 7% in constant currency,” said Steve Cooper, Warner Music Group’s CEO. “While streaming continues to fuel our growth, we are exploring a wide array of creative and commercial opportunities in order to position ourselves for long-term success.”
- Total revenue grew 4.5% or was up 1.9% in constant currency
- Digital revenue grew 16.1% or was up 14.1% in constant currency
- Net income was $321 million versus $143 million in the prior-year quarter
- OIBDA was $99 million versus $115 million in the prior-year quarter
“We are pleased with our revenue growth in the context of a very difficult prior-year comparison,” added Eric Levin, Warner Music Group’s Executive Vice President and CFO. “The health of our business is evidenced by our very strong cash generation.”