What is Warner Music Group's market cap?

Warner Music Group (WMG) has a market capitalization of $15.1B and trades on NASDAQ.

What is Warner Music Group's revenue and profitability?

Warner Music Group generated $7.1B in trailing twelve-month revenue with net income of $452.0M, representing a net margin of 6.3%. Gross margin stands at 45.8%, with free cash flow of $729.0M. These figures are based on the Q1 2026 filing.

Who are Warner Music Group's competitors?

Warner Music Group's key competitors include Reservoir Media, Inc. Common Stock, Warner Bros. Discovery, Inc. Series A Common Stock, LiveOne, Inc. Common Stock. These companies compete in similar markets and product categories.

Who does Warner Music Group partner with?

Warner Music Group's notable partners include Apple, YouTube, Spotify, and others.

What subsidiaries does Warner Music Group have?

Warner Music Group's subsidiaries include Atlantic Records, Warner Chappell Music, Rhino Entertainment, and others.

Where is Warner Music Group headquartered?

Warner Music Group is headquartered in United States of America and employs approximately 5,900 people. It has been publicly traded since 2020.

Warner Music Group

WMG

Warner Music Group is a leading global music entertainment company that identifies, develops, and markets recording artists and songwriters.

Market cap

$15.12B-3.1%

Revenue$7.1B+12.6%

Net income$452.0M—

Free cash flow$729.0M-4.1%

Trailing twelve months · change vs. prior year

Table of contents

Earnings

Q2 2026 report

May 7, 2026

Revenue$1.7BBeat by $119.7M EPS$0.44Beat by $0.14

Read the full report

Next report

Aug 6, 2026 (In 3 weeks)

Revenue estimate$1.8B

EPS estimate$0.38

Financials

Q2 2026

Income statement

See full

Revenue$1.7B+16.7%

Gross profit$802.0M+15.7%

Operating income$264.0M+57.1%

Net income$183.0M+408%

Balance sheet

See full

Cash & equivalents$741.0M+16.3%

Total debt$895.0M-79.0%

Total equity$738.0M+30.2%

Total assets$10.6B+10.9%

Cash flow

See full

Operating cash flow$126.0M+82.6%

CapEx$27.0M-25.0%

Free cash flow$99.0M+200%

Valuation & ratios

Valuation

See full

Market cap$15.12B-3.1%

Enterprise value$15.28B-20.3%

P/E33.5×-18.3×

P/S2.1×-0.3×

Profitability

See full

Gross margin45.8%-1.0pp

Operating margin12.1%+0.6pp

Net margin6.3%-0.8pp

FCF margin10.2%-1.8pp

Returns & leverage

See full

Return on equity69.3%-21.1pp

Debt / equity1.2×-6.3×

Current ratio0.7×+0.1×

Segments

By product

See full

Digital$1.2B+16.5%

Artist services and expanded-rights$164.0M+40.2%

Physical$137.0M+22.3%

Licensing$104.0M-1.0%

Performance$58.0M+9.4%

By segment

See full

Recorded Music$1.4B+17.4%

Music Publishing$353.0M+13.9%

Competitors

By market cap

Warner Bros. Discovery, Inc.$66.7B+145%

Warner Music Group$15.1B-1.4%

Reservoir Media, Inc.$671.3M+33.2%

LiveOne, Inc.$70.9M-13.6%

By revenue growth

Warner Music Group+12.6%

Reservoir Media, Inc.+10.7%

Warner Bros. Discovery, Inc.-2.9%

LiveOne, Inc.-32.6%

By net margin

Warner Music Group6.34%-0.8pp

Reservoir Media, Inc.4.73%-0.2pp

Warner Bros. Discovery, Inc.1.28%+24.3pp

LiveOne, Inc.-27.18%-10.8pp

Profile

Warner Music Group is a leading global music entertainment company that identifies, develops, and markets recording artists and songwriters. The company operates through a family of iconic record labels and a major music publishing business, leveraging a global platform to monetize music across digital, physical, and synchronization channels.

Competitive position

One of the three major global music entertainment companies, holding a significant share of both the recorded music and music publishing markets.

GeographiesGlobal, United States, Europe, China, Middle East

Customer segmentsB2B, B2C, Enterprise

Business modelLicensing, Intellectual Property, Distribution, Artist Services

SuppliersRecording artists, Songwriters, Composers, Music producers, Physical manufacturing suppliers

CustomersDigital Service Providers (DSPs), Social media platforms, Retailers, Broadcasters, Film and TV production companies

CountryUnited States of America

Listed2020

Employees5.9K

CEORobert Kyncl

SectorCommunication Services

IndustryEntertainment

Websitewmg.com

FilingsSEC EDGAR

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Questions, answered.

What is Warner Music Group's market cap?: Warner Music Group (WMG) has a market capitalization of $15.1B and trades on NASDAQ.
What is Warner Music Group's revenue and profitability?: Warner Music Group generated $7.1B in trailing twelve-month revenue with net income of $452.0M, representing a net margin of 6.3%. Gross margin stands at 45.8%, with free cash flow of $729.0M. These figures are based on the Q1 2026 filing.
Who are Warner Music Group's competitors?: Warner Music Group's key competitors include Reservoir Media, Inc. Common Stock, Warner Bros. Discovery, Inc. Series A Common Stock, LiveOne, Inc. Common Stock. These companies compete in similar markets and product categories.
Who does Warner Music Group partner with?: Warner Music Group's notable partners include Apple, YouTube, Spotify, and others.
What subsidiaries does Warner Music Group have?: Warner Music Group's subsidiaries include Atlantic Records, Warner Chappell Music, Rhino Entertainment, and others.
Where is Warner Music Group headquartered?: Warner Music Group is headquartered in United States of America and employs approximately 5,900 people. It has been publicly traded since 2020.