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Warner Music Group WMG Digital — Revenue

Other product segments

Artist services and expanded-rights
$164M+40.2%
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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BODIDigital — Revenue
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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$15B-3.1%
Enterprise value$15.16B-21.4%
P/E33.2×-18.9×
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 digital — revenue?
Warner Music Group (WMG) reported digital — revenue of $1.2B in Q1 2026.
How has Warner Music Group's digital — revenue changed year-over-year?
Warner Music Group's digital — revenue increased by 16.5% year-over-year, from $1.03B to $1.2B.
What is the long-term trend for Warner Music Group's digital — revenue?
Over 4 years (2021 to 2025), Warner Music Group's digital — revenue has grown at a 5.5% compound annual growth rate (CAGR), from $3.54B to $4.39B.
What does digital — revenue mean?
This metric represents the total gross revenue generated from digital distribution channels, including streaming platforms, digital downloads, and other online music consumption services. It serves as the primary indicator of the company's ability to monetize its intellectual property in the modern digital-first music landscape. This figure is critical for assessing the scale and growth trajectory of the company's core digital business model.