Warner Music Group WMG Business Segments
| TTM Q2 '26 | TTM Q1 '26 | TTM Q4 '25 | TTM Q3 '25 | TTM Q2 '25 | ||
|---|---|---|---|---|---|---|
| Revenue by Business | ||||||
| Music Publishing | $1.39B+12.6% | $1.35B+9.4% | $1.31B+7.9% | $1.26B+4.2% | $1.23B+3.5% | |
| Recorded Music | $5.75B+12.5% | $5.54B+8.2% | $5.41B+3.5% | $5.21B+0.7% | $5.11B-1.9% | |
| Other adjustments by Business | ||||||
| Music Publishing | $0— | $0— | $0— | $0— | $0— | |
| Cumulative restructuring and impairment charges by Business | ||||||
| Recorded Music | $712M— | $714M— | $816M— | —— | —— | |
| Acquisitions by Business | ||||||
| Music Publishing | $0— | $0— | $0— | $0— | $0— | |
| Recorded Music | $7M— | $3M— | $24M— | $24M— | —— | |
| Goodwill by Business | ||||||
| Music Publishing | $1.86B0.0% | $1.86B0.0% | $1.86B0.0% | $1.86B0.0% | $1.86B0.0% | |
| Recorded Music | $6.39B+2.8% | $6.36B+2.8% | $6.31B+2.0% | $6.27B+1.8% | $6.21B+1.5% | |
| Revenue by Product | ||||||
| Artist services and expanded-rights | $917M+37.5% | $870M+28.7% | $835M+22.1% | $703M+3.7% | $667M-9.5% | |
| Digital | $4.68B+9.9% | $4.51B+5.8% | $4.39B+2.6% | $4.31B+0.6% | $4.25B+0.4% | |
| Licensing | $462M+6.7% | $463M+7.2% | $452M-9.8% | $454M-3.0% | $433M-7.9% | |
| Mechanical | $68M+17.2% | $67M+17.5% | $63M+8.6% | $61M+1.7% | $58M-7.9% | |
| Other | $16M-20.0% | $16M-20.0% | $18M+12.5% | $20M+25.0% | $20M+25.0% | |
| Performance | $241M+18.1% | $236M+16.3% | $228M+15.2% | $210M+6.1% | $204M+9.7% | |
| Physical | $538M+1.1% | $513M-3.4% | $527M+1.5% | $531M+3.1% | $532M+2.1% | |
| Synchronization | $219M+24.4% | $218M+24.6% | $197M+12.6% | $188M+10.6% | $176M+4.1% | |
| Revenue by Geography | ||||||
| International | $4.12B+14.8% | $3.95B+10.5% | $3.84B+7.8% | $3.68B+5.0% | $3.59B+2.9% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Warner Music Group break its business down?
- Warner Music Group (WMG) reports revenue by business across 2 parts — Music Publishing and Recorded Music. Each is extracted from the segment footnotes and tracked over time.
- Where does Warner Music Group's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Warner Music Group's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
