Warner Music Posts Double-Digit Growth, With Revenue Topping $5B for the Year

That represents a 22% revenue growth over the same period last year, a time frame hit hard by the pandemic, and was fueled by 22% growth in recorded music that pushed the segment’s revenues to $1.17 billion.Recorded music’s growth during Q4 was driven by another big annual jump in digital revenues, which rose 19% to $926 million, though that was a tick down from Q3 when that tally was $928 million. Streaming generated a lucky $777 million, up 22% from the same period on 2020.

Looking closely at publishing, Warner Chappell Music grew a whopping 21.3% to $205 million from $169 million the same quarter last year. Breaking down publishing revenue, digital generated $120 million, up 20% from $100 million from the same period last year. With Hollywood back in the swing of things, synchronization revenues increased to $39 million from $27 million in Q4 of 2021. Mechanical increased to $13 million from $10, thanks to wider business recovery and an increase in physical sales.

As for profit, all those positive metrics helped pump net income for the quarter to $30 million compared to $1 million in the prior-year quarter, which was impacted by the pandemic. OIBDA came in at $179 million versus $155 million in the year earlier period. Operating income was $100 million compared to $88 million in the prior-year quarter., WMG generated total revenues of $5.301 billion from $4.463 billion in the prior year, a 19% increase. Recorded music accounted for $4.

“Music is essential to billions of people across the globe. But now, more than ever, great talent needs help to cut through the noise. By delivering for new artists and songwriters, returning superstars, and global legends, we’ve also delivered outstanding results in 2021,” said"Our strong fourth-quarter results put an exclamation point on an outstanding year," added Lou Dickler, acting CFO.

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