Warner Music Reports Annual Revenue Growth but Decline in Quarterly Profit

The company achieved an 8% rise in streaming revenue for fiscal 2024, while higher costs and debt impacts reduced fourth-quarter net income.

Warner Music Group's annual revenue grew to $6.426 billion, a 6% increase driven by streaming and licensing gains.
Streaming revenue rose by 8% for the fiscal year, with music publishing revenue seeing an 11% boost, largely due to digital growth.
Fourth-quarter revenue increased by 4%, but net income dropped 69% to $48 million, impacted by higher interest expenses and unfavorable currency exchange rates.
CEO Robert Kyncl highlighted organizational restructuring, including leadership changes and a streamlined structure, to drive future growth and efficiency.
Key artists contributing to the year's success included Zach Bryan, Dua Lipa, Charli XCX, and emerging talents like Artemas and Jordan Adetunji.