Business Segments · Cost of revenue
Music Publishing — Cost of revenue
Warner Music Group Music Publishing — Cost of revenue decreased by 1.8% to $224.00M in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 15.5%, from $194.00M to $224.00M. This is a positive signal — lower values indicate better performance for this metric.
Analysis
StatementSegment
CategoryProfitability
SignalLower is better
VolatilityStable
First reportedQ1 2023
Last reportedQ2 2026May 7, 2026
Rolls up toTotal Cost of Revenue
How to read this metric
A rising ratio relative to revenue may indicate higher royalty obligations or less favorable contract terms.
Detailed definition
The direct costs associated with generating publishing revenue, primarily consisting of royalty payments to songwriters...
Peer comparison
Standard metric for all music publishers; highly correlated with revenue growth.
Metric ID:
wmg_segment_music_publishing_cost_of_revenueHistorical Data
12 periods
| Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q1 '26 | Q2 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $170.25M | $170.25M | $170.25M | $170.25M | $190.75M | $190.75M | $190.75M | $190.75M | $210.00M | $194.00M | $228.00M | $224.00M |
| QoQ Change | — | +0.0% | +0.0% | +0.0% | +12.0% | +0.0% | +0.0% | +0.0% | +10.1% | -7.6% | +17.5% | -1.8% |
| YoY Change | — | — | — | — | +12.0% | +12.0% | +12.0% | +12.0% | +10.1% | +1.7% | +8.6% | +15.5% |
Range$170.25M – $228.00M
CAGR+10.5%
Avg YoY Growth+10.5%
Median YoY Growth+12.0%
Similar Metrics at Other Companies
Frequently Asked Questions
- What is Warner Music Group's music publishing — cost of revenue?
- Warner Music Group (WMG) reported music publishing — cost of revenue of $224.00M in Q1 2026.
- How has Warner Music Group's music publishing — cost of revenue changed year-over-year?
- Warner Music Group's music publishing — cost of revenue increased by 15.5% year-over-year, from $194.00M to $224.00M.
- What does music publishing — cost of revenue mean?
- Direct costs paid to songwriters and rights holders to generate revenue.