Warner Music Group fiscal year revenue exceeded $4 billion for the first time

Warner Music Group released its financial results for the fourth quarter and fiscal year ending September 30, 2018. Quarterly revenue increased 13.3% to $1.039 billion, with $596 million of that stemming from digital sources. Recorded music revenue reached $863 million, including $528 million in digital revenue. WMG posted a quarterly net loss of $13 million, down from $38 million in the year-ago period.

For the full fiscal year, total revenue was $4.005 billion, up 12%, and total digital revenue for the year was $2.252 billion. Recorded music revenue totaled $3.36 billion for the year with $2.019 from digital revenue. Warner’s full-year net income in 2018 was $312 million, up from $149 million in the year prior.

“We’ve had another terrific year and revenue exceeded $4 billion for the first time in our fifteen-year history as a standalone company,” Warner Music Group CEO Steve Cooper. “We continue to invest in our business for the benefit of our recording artists and songwriters and to fuel our long-term growth.”