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# WMG Revenues Decline 13%, Digital Sales Grew 7%
- URL: https://www.hypebot.com/wmg-revenues-decline-13-digital-sales-grew-7/
- Published: 2010-11-17T07:57:54.000Z
- Updated: 2010-11-17T07:57:54.000Z
- Description: In SEC filings this morning, Warner Music Group reported revenue of $752 million, a decline of 13% from the prior year quarter (-12% on a constant currency basis). Full year. Continue reading [https://www.hypebot.com/hypebot/2010/11/wmg-revenues-decline-13-digital-sales-grew-7.html]
- Author: Bruce Houghton
- Tags: Major Labels, #wp, #wp-post, #Import 2026-01-21 10:59

[![image from 4.bp.blogspot.com](http://hypebot.typepad.com/.a/6a00d83451b36c69e2013482b0104d970c-120wi "image from 4.bp.blogspot.com")](https://storage.ghost.io/c/3a/95/3a957c06-c825-4057-9939-0a274cc16d23/content/images/4-bp-blogspot-com/%5FNv0q0J9GLs8/SwDkcpED8mI/AAAAAAAACGE/cvDn6qJmACs/s1600/800px-warner%5Fmusic%5Fgroup%5Flogo.png?ref=hypebot.com) In SEC filings this morning, Warner Music Group reported revenue of $752 million, a decline of 13% from the prior year quarter (-12% on a constant currency basis). Full year 2010 revenue declined 7% to $2,984 million (-9% on a constant currency basis). Despite declining revenue, cost cutting helped grow the company's cash war chest to $430 million, perhaps in anticipation of a bid EMI.

**Slow Digital Growth & Big Severance Packages:**

Quarterly digital revenue grew 7% from the previous years quarter to $197 million or 40% of recorded music revenue and 26% of total revenue. Full year 2010 digital revenue rose 8% to to $759 million.

Hefty severance packages cut into profits as WMG trimmed its over-staffed executive suites which cost the company $54 million ($46 million in the recorded music division, $2 million in music publishing and $6 million in corporate) last year. That's on top of $23 million of severance charges in the prior fiscal year ($18 million in recorded music, $2 million in music publishing and $3 million in corporate).

Read the full SEC filing [here](http://investors.wmg.com/phoenix.zhtml?c=182480&p=IROL-sec&ref=hypebot.com).