Warner Music Group Rides Strong Subscription Growth to Hit $6 Billion Revenue Target

Warner Music Group reported on Thursday that total revenue for its fiscal year rose 6% compared to a year-ago on strong digital and streaming subscription revenue.

The company reported $6.43 billion in total revenue for the twelve months ending on Sept. 30, up 6% from the roughly $6 billion the company generated in the 12-months prior. That figure included $5.22 billion in recorded music revenue, which represented a 5% increase from a year ago, and music publishing revenue of $1.2 billion, which was up by 11% increase from a year ago.

WMG’s digital revenues grew by 7.3% and streaming revenue increased 8.2% in a year despite the roll-off of a distribution deal with BMG, which negatively impacted both digital and streaming revenues within recorded music. Music publishing streaming revenue jumped 14.6%, as both divisions benefitted from licensing, physical sales, performance and sync revenues, the company said.

“Our strong streaming performance, underpinned by positive industry trends, and combined with our cost discipline, resulted in robust cash flow generation,” Bryan Castellani, CFO of Warner Music Group, said in a statement. We are excited by the opportunities ahead, and look forward to delivering more culture-shaping music in 2025 and beyond.”

Major sellers during the label’s fourth quarter included Benson Boone, Charli XCX, Zach Bryan and Teddy Swims.

Warner’s stock was up 2.25% in pre-market trading at 8:04 a.m. in New York.

Key WMG financial highlights for its full fiscal year:

Key WMG financial highlights for its Q4: