Business Segments · Cost of revenue
Recorded Music — Cost of revenue
Warner Music Group Recorded Music — Cost of revenue decreased by 7.0% to $707.00M in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 18.0%, from $599.00M to $707.00M. 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
An increasing ratio relative to revenue may signal rising royalty obligations or higher distribution costs.
Detailed definition
Direct costs associated with producing and distributing recorded music, including royalties paid to artists, manufacturi...
Peer comparison
Standard cost of goods sold (COGS) equivalent for the music industry.
Metric ID:
wmg_segment_recorded_music_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 | $625.50M | $625.50M | $625.50M | $625.50M | $649.75M | $649.75M | $649.75M | $649.75M | $686.00M | $599.00M | $760.00M | $707.00M |
| QoQ Change | — | +0.0% | +0.0% | +0.0% | +3.9% | +0.0% | +0.0% | +0.0% | +5.6% | -12.7% | +26.9% | -7.0% |
| YoY Change | — | — | — | — | +3.9% | +3.9% | +3.9% | +3.9% | +5.6% | -7.8% | +10.8% | +18.0% |
Range$599.00M – $760.00M
CAGR+4.6%
Avg YoY Growth+5.3%
Median YoY Growth+3.9%
Similar Metrics at Other Companies
Frequently Asked Questions
- What is Warner Music Group's recorded music — cost of revenue?
- Warner Music Group (WMG) reported recorded music — cost of revenue of $707.00M in Q1 2026.
- How has Warner Music Group's recorded music — cost of revenue changed year-over-year?
- Warner Music Group's recorded music — cost of revenue increased by 18.0% year-over-year, from $599.00M to $707.00M.
- What does recorded music — cost of revenue mean?
- Direct costs to produce and distribute music products.