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Warner Music Group WMG Recorded Music — Revenue

Other segment segments

Music Publishing
$353M+13.9%

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RSVRRecorded Music — Cost Of 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$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 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 recorded music — revenue?
Warner Music Group (WMG) reported recorded music — revenue of $1.38B in Q1 2026.
How has Warner Music Group's recorded music — revenue changed year-over-year?
Warner Music Group's recorded music — revenue increased by 17.4% year-over-year, from $1.18B to $1.38B.
What is the long-term trend for Warner Music Group's recorded music — revenue?
Over 4 years (2021 to 2025), Warner Music Group's recorded music — revenue has grown at a 4.4% compound annual growth rate (CAGR), from $4.54B to $5.41B.
What does recorded music — revenue mean?
Represents the total gross income generated from the sale, streaming, and licensing of recorded music assets. This includes revenue from digital streaming platforms, physical media sales, and synchronization rights for the recorded music segment.