NEW YORK, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Warner Music Group Corp. will release its financial results on Thursday, February 8, 2024, for the first quarter ended December 31, 2023, and will hold an earnings conference call that morning at 8:30 a.m. ET. To access the conference call, please register here. Once registered, you will receive an email with the dial-in number along with your personalized pin needed to join the call. We suggest you call in 10 minutes prior to the start time. If you do not anticip ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-32502 Warner Music Group Corp. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incor ...

Financial Data and Key Metrics Changes - In Q4 2023, total revenue grew by 5% and adjusted OIBDA increased by 18%, with a margin expansion of 230 basis points [12][22] - For the full year, revenue surpassed $6 billion for the first time, growing by 4% and adjusted OIBDA by 10%, with a margin expansion of 120 basis points [12][50] - Operating cash flow conversion was 56% of adjusted OIBDA for the full year, aligning with the target of 50% to 60% over a multiyear period [68] Business Line Data and Key Metrics Changes - Recorded Music revenue grew by 2%, with streaming revenue increasing by 4% for the full year [50] - In Q4, subscription streaming revenue grew by approximately 10%, while ad-supported revenue increased by 7% [23] - Music Publishing revenue grew by 15%, driven by strength across all revenue lines, with digital revenue increasing by 19% and streaming revenue by 26% [24][25] Market Data and Key Metrics Changes - The music ecosystem is experiencing healthy growth drivers, with price increases across major DSPs and evolving royalty models [20] - India has seen a significant increase in recorded music revenue, doubling over the last five years, with a growth rate of 48% in 2022 [45] Company Strategy and Development Direction - The company is focused on a two-pronged approach: price optimization and leveraging technology to enhance growth [16][17] - There is a commitment to invest more heavily in A&R and marketing in 2024 to ensure the success of new releases [28] - The strategy includes expanding local talent development in emerging markets like India and enhancing distribution partnerships [44][45] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the music industry's growth, emphasizing the importance of creativity and technology in shaping the future [39][37] - The company is confident about its momentum heading into fiscal 2024, supported by a strong release slate and industry tailwinds [12][20] Other Important Information - The company plans to file its Form 10-K during the week of November 20, 2023 [6] - A financial transformation program is on track to roll out later this fiscal year, expected to yield annualized savings of $35 million to $40 million once fully implemented [26][27] Q&A Session All Questions and Answers Question: How does the company balance investment in A&R versus technology? - The company is committed to self-funding technology investments while creating a flywheel effect that supports growth and margin expansion [71] Question: Can you discuss streaming growth as you head into fiscal '24? - Management is focused on sustained improvements and is optimistic about the streaming growth trajectory, supported by a strong release slate [73][74] Question: What is the margin expansion target for the year? - The target remains at 100 basis points on an organic basis, excluding BMG impacts, with gradual improvements expected throughout the year [77] Question: Can you provide an update on the AI feature announced with YouTube? - The company is excited about the collaboration with YouTube and emphasizes responsible engagement with partners to shape the future of AI in the music industry [78][79] Question: What is the outlook for ad-supported revenue? - The ad-supported revenue is expected to improve, with a stronger performance anticipated in the streaming space compared to the broader advertising market [103]

Financial Data and Key Metrics Changes - Total revenue grew by 10% and adjusted OIBDA increased by 18%, with margins growing by 140 basis points year-on-year [59][88] - Recorded Music revenue increased by 9%, while streaming revenue grew by 7%, reflecting double-digit growth in subscription revenue and modest growth in ad-supported revenue [59][89] - Music Publishing revenue grew by 16%, driven by strong streaming growth of 28% [60][92] Business Line Data and Key Metrics Changes - Recorded Music adjusted OIBDA increased by 16% with a margin of 20.6%, an increase of 130 basis points compared to the prior year quarter [91] - Music Publishing adjusted OIBDA increased by 32% to $74 million with a margin increasing by 310 basis points to 26.1% [93] - Artist services and expanded rights revenue increased by 14% due to higher content promotion and merchandising revenue [89] Market Data and Key Metrics Changes - The Latin division performed well, with Myke Towers reaching 1 on Spotify Global Top 50 and Yng Lvcas achieving significant chart success [62] - Emerging streaming platforms, including TikTok, Meta, and Peloton, contributed to the ad-supported revenue growth [59][90] - The overall ad-supported revenue showed sequential improvement, moving back towards growth [125] Company Strategy and Development Direction - The company is focused on diversifying revenue streams and strengthening services in the publishing business [67] - There is an emphasis on innovation around audience segmentation and price optimization in the streaming market [22][24] - The financial transformation program is being rolled out in waves, with expected annualized run rate savings of $35 million to $40 million once fully implemented [94] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the operating environment, noting a more positive outlook for growth drivers [42] - The company anticipates continued improvement in results and is focused on margin growth for fiscal 2024 [97] - There is a belief that the market can bear further price increases in subscription services, with expectations for a more regular cadence of such increases [73] Other Important Information - The company has successfully launched components of its financial transformation program in select territories [94] - The cash balance as of June 30 was $600 million, with total debt of approximately $4 billion [96] - The company is actively managing costs, including marketing, to improve margins [37][110] Q&A Session Summary Question: Can you provide insights on the impact of recent price increases by DSPs? - Management expects to see the full impact of price increases reflected in fiscal 2024, not in Q4 2023 [36] Question: What is the status of the financial transformation program? - The program is live in several markets, with benefits expected to roll in modestly in 2024 and more robustly in 2026 [18][94] Question: How is the company addressing the challenges and opportunities presented by AI? - The company is engaged with distribution partners and generative AI engines, ensuring artists have a choice in how AI is used in their music [30][32] Question: Can you elaborate on the TikTok agreement and its implications? - The agreement is designed to ensure fairness across all distributors and opens new growth drivers as TikTok rolls out subscription services [120][121] Question: What are the expectations for emerging streaming platform revenue growth? - Emerging streaming revenue continues to grow nicely, with expectations for improvement in both emerging and traditional ad-supported categories [125]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-32502 Warner Music Group Corp. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 13-42718 ...

Warner Music Group Corp. (NASDAQ:WMG) Q2 2023 Earnings Conference Call May 9, 2023 8:30 PM ET Company Participants Kareem Chin - Head of IR Robert Kyncl - CEO Eric Levin - CFO Conference Call Participants Michael Morris - Guggenheim Securities Ben Swinburne - Morgan Stanley Sebastiano Petti - JPMorgan Benjamin Black - Deutsche Bank Rich Greenfield - LightShed Partners Stephen Laszczyk - Goldman Sachs Matthew Thornton - Truist Securities Tim Nollen - Macquarie Operator Welcome to Warner Music Group's Second ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-32502 Warner Music Group Corp. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 13-4 ...

Warner Music Group Corp. (NASDAQ:WMG) Q1 2023 Earnings Conference Call February 9, 2023 8:30 AM ET Company Participants Kareem Chin - Head of IR Robert Kyncl - CEO Eric Levin - CFO Conference Call Participants Benjamin Black - Deutsche Bank Sebastiano Petti - JPMorgan Benjamin Swinburne - Morgan Stanley Rich Greenfield - LightShed Partners Matthew Thornton - Truist Securities Michael Morris - Guggenheim Partners Kutgun Maral - RBC Capital Markets Stephen Laszczyk - Goldman Sachs Operator Welcome to Warner M ...

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-32502 Warner Music Group Corp. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2022 OR (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 1 ...

Warner Music Group Corp. [WMG] Q4 2022 Earnings Conference Call November 22, 2022 8:30 AM ET Company Participants Steve Cooper - CEO Eric Levin - CFO Kareem Chin - IR Conference Call Participants Benjamin Swinburne - Morgan Stanley Jason Bazinet - Citigroup Kutgun Maral - RBC Capital Markets Stephen Laszczyk - Goldman Sachs Operator Good morning, and welcome to Warner Music Group’s fourth quarter earnings call for the period and fiscal year ended September 30, 2022. At the request of Warner Music Group, tod ...