Warner Music Group Almost Made $1 Billion In Music Streams During Their Last Quarter

Warner Music Group made $1.386 in the three months to the end of December from their music streams. Major artists like Ed Sheeran, Coldplay, Dua Lipa, and Silk Sonic drove these sales.

Physical revenue grew to $195 million, or 12.1% in the three months through the end of December 2021, which was mainly resultant from “new releases, an increasing demand for vinyl products and COVID disruption in the prior-year quarter.” Meanwhile, licensing revenue rose to $89 million, or 11.3%, primarily due to “higher synchronization and other licensing revenue, as businesses continued to recover from COVID disruption.”

Most notably, WCM’s streaming revenue rose to $129 million from $94 million in the prior quarter – 37.2%.

Of this quarterly report, Warner Music Group CEO Steve Cooper said, “Hitting an all-time high in our 18 years as a standalone company is proof that we’ve never been stronger. At the same time, we’ve never had so much opportunity ahead of us. Our creative expertise, global agility, and willingness to experiment set us apart from the competition and solidify our important role across the entire music ecosystem. In the coming year, we look forward to welcoming back huge superstars, breaking new artists and songwriters, and seeking out more innovative ways to bring more music to more people in more places.”