From GlobeNewswire: 2024-11-21 07:30:00

Warner Music Group Corp. reported healthy financial performance in the full-year results for both recorded music and music publishing. Subscription streaming saw strong growth, with a 3% increase in total revenue for the three months ended September 30, 2024. Operating cash flow conversion was at 53% in line with guidance, with net income of $48 million. Adjusted OIBDA increased by 11% to $353 million.

For the twelve months ended September 30, 2024, total revenue increased by 6%, with digital revenue up by 7%. Net income was $478 million, an increase from $439 million in the prior year. Adjusted OIBDA increased by 16% to $1,432 million. Cash provided by operating activities increased by 10% to $754 million, with free cash flow increasing by 14% to $638 million.

Warner Music Group Corp.’s fourth-quarter and full-year financial results for the periods ended September 30, 2024, demonstrated strength and adaptability in a thriving market. CEO Robert Kyncl highlighted the company’s evolution based on simplicity and focus, driving higher intensity and global impact. CFO Bryan Castellani emphasized the company’s diverse and resilient business, with strong streaming performance and robust cash flow generation.



Read more at GlobeNewswire:: Warner Music Group Corp. Reports Results for Fiscal Fourth