Warner Music Group Corp. has announced its fourth-quarter and full-year financial results for the period ended September 30, 2017.
“We’ve now had five consecutive years of global revenue growth in constant currency, and the last two were up double digits,” said WMG CEO Steve Cooper. “Our momentum reflects the tremendous talent and appeal of our artists and songwriters, and the strength of our worldwide operating team. Investing to maintain our growth will remain a priority into 2018 and beyond.”
“Our momentum is solid and sustainable,” added WMG EVP/CFO Eric Levin. “We continue to drive revenue growth, and turn it into cash, ending the year with $647 million on the balance sheet – the highest level ever in our history of being a standalone company.”
Total revenue for the company’s fiscal fourth quarter was up nine percent to $917 million. For the fiscal full year, WMG’s total revenue was up 10.2 percent to $3.576 billion.
Top selling artists in Q4 included Ed Sheeran, Bruno Mars, Clean Bandit, Migos and Linkin Park. The recorded music portion of the quarter’s revenue grew by 9.9 percent to $767 million. For the full year, major sellers included Ed Sheeran, Bruno Mars, Twenty One Pilots, the Hamilton original Broadway cast album and Clean Bandit. Revenue during the full fiscal year grew by 10.4 percent to just over $3 billion.