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Warner Music Group turns 2016 profit with boost from streaming revenue

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Warner Music Group posted its financial results for the fourth quarter and the fiscal year, and streaming played a large part in the company’s strong results. The label didn’t break out specific numbers for streaming’s contribution, but did acknowledge its role in more general terms. “Digital growth reflects a continuing shift to streaming revenue,” the press release read.

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Warner Q1: Increased digital revenue and new details about streaming equity

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Warner Music Group posted its results for the first quarter ending Dec. 31, with the music performance buoyed by streaming. A large portion of the revenue figures came from digital sources, which posted an 18% increase to $322 million. Digital revenue was responsible for 41% of the company’s total revenue, up from a 35.6% portion in the year-ago period.

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