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Warner Music Group has released its financial results for the period ended March 31, 2025.
On a constant currency basis, revenue was up 1.2% year-on-year in the first quarter (the major’s fiscal Q2) to $1.494 billion.
Recorded Music streaming revenue was up 1.6%, as was music publishing streaming revenue.
The slight decrease in reported total revenue (not at constant currency) was driven by lower Recorded Music artist services and expanded-rights revenue. That was partially offset by higher licensing and physical revenue and growth across music publishing digital, performance, synchronisation and mechanical revenue.
Physical revenue increased 0.9% (or 1.8% in constant currency) driven by new releases in the quarter, primarily in the US and Japan.
“Our strategy is starting to bear fruit, with our strongest chart presence in two years, translating to expanding new release market share in the US,” said Robert Kyncl, CEO of Warner Music Group. “As a result, our true strength this quarter was partially obscured by challenging comparisons with last year’s outperformance. As we replicate our strategy across other labels and geographies, and drive a virtuous cycle of greater reinvestment, we expect to deliver lasting value for artists and songwriters, and sustained growth and profitability for shareholders.”
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