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WMG'S $4.5B YEAR

Total revenue for Warner Music Group increased 11.7% in fiscal 2019 to $4.475b. Streaming revenue accounted for nearly half the company’s income, $2.13 billion.

Domestic revenue was up 11.5% and international revenue rose 11.9% for the fiscal year that ended 9/30.

Overall digital revenue for the full year grew 15.9% to $2.61b, representing 58.3% of total revenue, compared to 56.2% in the prior year.

Net income was $258m compared to $312m in the prior year.  Adjusted net income was $297m compared to $388m in the prior year, reflecting lower other income in the current year due to a net gain on the Spotify share sale.

In opening remarks on a conference call with analysts, WMG CEO Steve Cooper listed hitmakers at WMG, new songwriters at Warner Chappell and acquisitions of labels around the world in addition to the company’s embracing of new technologies and platforms such as TikTok to help build artist’s careers. He singled out  “the new energy” at Warner Chappell that has been rewarded with honors from ASCAP, BMI and Sesac awards.

“With $619 million on our balance sheet at year-end, the cash generating power of our business has never been clearer," said WMG EVP/CFO Eric Levin.

Recorded Music revenue grew 10.4% to $3.84b. Major sellers included Ed Sheeran, Lizzo, Mariya Takeuchi, Slipknot and Cardi B.

Despite Music Publishing digital revenue increasing 14.3% to $271m, the unit’s revenue declined 1.5% to $643m.

STRINGER ON "THE ISSUES AND ACTIONS NEEDED"
Sony Music is all in. (5/31a)
"REAL AND CONSTRUCTIVE CHANGE": SIR LUCIAN SPEAKS OUT
UMG is all in. (5/31a)
RAPINO: SUPPORTING BLACK CULTURE, ANTI-RACISM
Live Nation is all in. (5/30a)
WMG ON COPING WITH THE MOMENT
Warner Music is all in. (5/30a)
ARTISTS MAKE THEIR VOICES HEARD
The stars are coming out. (5/31a)
SHORT WEEK
Enjoy being even more confused by the calendar.
BLACK MUSIC MONTH
Celebrating the music that fuels the biz.
INSTACART
Dammit, we said DILL pickles!.
TRUMP SAID WHAT, NOW?
Just wondering if you still give a fuck.
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