What does music publishing — distribution expense mean?

Costs associated with the delivery and administration of music publishing rights to digital service providers and other licensees. This includes the infrastructure required to track and collect royalties globally.

Warner Music Group WMG Music Publishing — Distribution expense

Similar metrics at other companies

RSVRMusic Publishing — General And Administrative Expense

$7.54M+16.7%

RSVRMusic Publishing — Cost Of Revenue

$12.37M+12.3%

SIEBMusic Production Manufacturing And Distribution — Operating Expenses

$178K+94.0%

HASEntertainment — Distribution

$0—

CNMDDistribution expense

$13.26M+10.2%

RSVRMusic Publishing — Operating Income Loss Excluding Depreciation Depletion And Amortization

$10.97M+4.9%

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$13.85B-14.4%

Enterprise value$14B-29.9%

P/E30.6×-23.8×

P/S1.9×-0.6×

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 wmg:DistributionExpense.

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 music publishing — distribution expense?: Warner Music Group (WMG) reported music publishing — distribution expense of $0 in Q1 2026.
What does music publishing — distribution expense mean?: Costs associated with the delivery and administration of music publishing rights to digital service providers and other licensees. This includes the infrastructure required to track and collect royalties globally.