Warner Music Group just unveiled the figures of its fiscal fourth quarter, and thus its full financial-year figures. In the end, we see a 10.2% growth in total revenues: WMG saw its revenues grow from $3.25bn in the year ended 30 September 2016 to $3.58bn in the year ended 30 September 2017.
Moreover, WMG’s digital revenues grew by 24.7% to £1.87bn – 52.3% of the group’s total revenues and - overall - Warner Music reported a net profit of $149m for its latest fiscal year, up from $30m the previous year.
CEO Steve Cooper commented:
We’ve now had five consecutive years of global revenue growth in constant currency, and the last two were up double digits. 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.
In its last fiscal year, WMG’s recorded-music revenues grew by 10.4% to $3.02bn, with digital accounting for $1.69bn of that – up 24% year-on-year, and now 56% of overall recorded revenues. In the last fiscal year, WMG’s recorded-music business generated $1.34bn of streaming revenues – 79.3% of its digital total, and 44.4% of its overall revenue.
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