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Warner Music Group WMG Artist services and expanded-rights — Revenue

Other product segments

Digital
$1.2B+16.5%
Physical
$137M+22.3%
Licensing
$104M-1.0%
Performance
$58M+9.4%
Synchronization
$50M+2.0%
Mechanical
$17M+6.3%
Other
$4M0.0%

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Other financials

Income statement

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Revenue$1.7B+16.7%
Gross profit$802.0M+15.7%
Operating income$264.0M+57.1%
Net income$183.0M+408%

Balance sheet

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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

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Operating cash flow$126.0M+82.6%
CapEx$27.0M-25.0%
Free cash flow$99.0M+200%

Valuation

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Market cap$15.12B-1.6%
Enterprise value$15.28B-20.3%
P/E33.5×-18.3×
P/S2.1×-0.3×

Profitability

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Gross margin45.8%-1.0pp
Operating margin12.1%+0.6pp
Net margin6.3%-0.8pp
FCF margin10.2%-1.8pp

Returns & leverage

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Return on equity69.3%-21.1pp
Debt / equity1.2×-6.3×
Current ratio0.7×+0.1×

Where this comes from

Reported directly by Warner Music Group in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The official record: Warner Music Group’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Warner Music Group's artist services and expanded-rights — revenue?
Warner Music Group (WMG) reported artist services and expanded-rights — revenue of $164M in Q1 2026.
How has Warner Music Group's artist services and expanded-rights — revenue changed year-over-year?
Warner Music Group's artist services and expanded-rights — revenue increased by 40.2% year-over-year, from $117M to $164M.
What is the long-term trend for Warner Music Group's artist services and expanded-rights — revenue?
Over 4 years (2021 to 2025), Warner Music Group's artist services and expanded-rights — revenue has grown at a 8.7% compound annual growth rate (CAGR), from $599M to $835M.
What does artist services and expanded-rights — revenue mean?
This metric represents the total revenue generated from non-recorded music activities, including artist management, merchandising, touring support, and other ancillary rights. It reflects the company's ability to monetize artist brands beyond traditional music streaming and physical sales through diversified revenue streams. This segment is critical for assessing how the company leverages its intellectual property and artist relationships to capture value across the broader entertainment ecosystem.