RUMOR MILL
Tuesday, May 12, 2015
WMG'S Q2 EARNINGS STREAM IN
Corporation Issues Document Containing Array of Large Numbers
Warner Music Group’s Q2 earnings report has arrived, and CEO Stephen Cooper notes that streaming revenue has surpassed digital for the first time—streaming increased 33%, while overall digital revenue rose 1%. Total revenue was up 4%; Recorded Music revenue spiked 5%.
Net income was $19 million versus a net loss of $59m in the prior-year quarter.OIBDA was $121m, up from $74m in the prior-year quarter.
Releases from Kid Rock and Led Zeppelin were credited with physical sales growth.
Cooper hailed “significant revenue growth … across key segments,” and vowed that this would be the year in which he finally caught the Roadrunner.
