Warner Music Revenue

Warner Music revenue was $4.48 b in FY, 2019

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Summary - Funding Rounds

Founding Date

1958

Warner Music Revenue Breakdown

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Warner Music revenue breakdown by business segment: 84.1% from Recorded Music and 15.9% from Music Publishing

Warner Music revenue breakdown by geographic segment: 44.4% from United States, 14.6% from United Kingdom and 41.0% from All Other Territories

Warner Music Income Statement

Annual

USDFY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018FY, 2019

Revenue

2.8b2.9b3.0b3.0b3.2b3.6b4.0b4.5b

Revenue growth, %

10%

Cost of goods sold

1.5b1.5b1.6b1.5b1.7b1.9b2.2b2.4b

Gross profit

1.3b1.4b1.5b1.5b1.5b1.6b1.8b2.1b

Gross profit Margin, %

48%48%48%49%47%46%46%46%

General and administrative expense

1.0b1.1b1.1b1.2b

Operating expense total

1.2b(2.8b)1.4b1.3b1.1b1.2b1.6b1.7b

Depreciation and amortization

193.0m(207.0m)243.0m201.0m208.0m

EBIT

109.0m75.0m19.0m127.0m214.0m222.0m217.0m356.0m

EBIT margin, %

4%3%1%4%7%6%5%8%

Interest expense

225.0m203.0m203.0m181.0m173.0m149.0m138.0m142.0m

Investment income

Pre tax profit

(108.0m)(225.0m)(329.0m)(75.0m)41.0m(2.0m)442.0m267.0m

Income tax expense

1.0m31.0m(26.0m)13.0m11.0m(151.0m)130.0m9.0m

Net Income

(112.0m)(194.0m)(308.0m)(91.0m)30.0m149.0m307.0m256.0m

Quarterly

USDQ3, 2011Q1, 2012Q2, 2012Q3, 2012Q1, 2013Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020

Revenue

686.0m628.0m654.0m769.0m675.0m663.0m815.0m653.0m788.0m829.0m677.0m710.0m849.0m745.0m811.0m917.0m825.0m917.0m1.0b963.0m958.0m1.2b1.1b1.1b1.3b1.1b

Cost of goods sold

378.0m323.0m356.0m408.0m329.0m371.0m441.0m319.0m417.0m445.0m318.0m373.0m449.0m374.0m448.0m496.0m415.0m519.0m569.0m488.0m531.0m626.0m559.0m577.0m665.0m535.0m

Gross profit

308.0m305.0m298.0m361.0m346.0m292.0m374.0m334.0m371.0m384.0m359.0m337.0m400.0m371.0m363.0m421.0m410.0m398.0m476.0m475.0m427.0m577.0m531.0m481.0m591.0m536.0m

Gross profit Margin, %

45%49%46%47%51%44%46%51%47%46%53%47%47%50%45%46%50%43%46%49%45%48%49%45%47%50%

General and administrative expense

242.0m233.0m244.0m262.0m242.0m236.0m276.0m282.0m296.0m333.0m337.0m

Operating expense total

298.0m283.0m291.0m310.0m289.0m284.0m359.0m339.0m386.0m361.0m315.0m314.0m338.0m319.0m318.0m276.0m282.0m296.0m333.0m337.0m399.0m430.0m409.0m423.0m426.0m585.0m

Depreciation and amortization

56.0m50.0m47.0m48.0m47.0m48.0m14.0m62.0m12.0m51.0m50.0m51.0m53.0m55.0m14.0m

EBIT

10.0m22.0m7.0m51.0m57.0m8.0m15.0m(5.0m)(15.0m)23.0m44.0m23.0m62.0m52.0m45.0m94.0m78.0m51.0m90.0m83.0m28.0m147.0m122.0m58.0m165.0m(49.0m)

EBIT margin, %

1%4%1%7%8%1%2%(1%)(2%)3%6%3%7%7%6%10%9%6%9%9%3%12%11%5%13%(5%)

Interest expense

47.0m56.0m56.0m53.0m49.0m47.0m55.0m54.0m48.0m46.0m45.0m45.0m45.0m43.0m43.0m40.0m36.0m36.0m36.0m36.0m33.0m36.0m36.0m36.0m33.0m33.0m

Investment income

Pre tax profit

(31.0m)(32.0m)(43.0m)(90.0m)4.0m(43.0m)(44.0m)(62.0m)(200.0m)(32.0m)13.0m(39.0m)25.0m27.0m(3.0m)41.0m23.0m(9.0m)57.0m18.0m382.0m136.0m115.0m2.0m127.0m(86.0m)

Income tax expense

15.0m2.0m(11.0m)(11.0m)19.0m(8.0m)(3.0m)(16.0m)9.0m(6.0m)4.0m(3.0m)15.0m4.0m17.0m3.0m(152.0m)52.0m19.0m61.0m50.0m48.0m(12.0m)5.0m(12.0m)

Net Income

(46.0m)(26.0m)(36.0m)(32.0m)(80.0m)2.0m(63.0m)(37.0m)(60.0m)(185.0m)(42.0m)18.0m(44.0m)27.0m11.0m(9.0m)24.0m20.0m143.0m5.0m(1.0m)320.0m86.0m67.0m13.0m120.0m(74.0m)

Warner Music Balance Sheet

Annual

USDFY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018FY, 2019

Cash

302.0m155.0m157.0m246.0m359.0m647.0m514.0m619.0m

Accounts Receivable

398.0m511.0m383.0m349.0m329.0m404.0m447.0m775.0m

Prepaid Expenses

44.0m59.0m55.0m60.0m51.0m44.0m50.0m53.0m

Inventories

28.0m33.0m39.0m42.0m41.0m39.0m42.0m74.0m

Current Assets

939.0m894.0m782.0m879.0m908.0m1.3b1.2b1.7b

PP&E

152.0m180.0m227.0m220.0m203.0m213.0m229.0m300.0m

Goodwill

1.4b1.7b1.7b1.6b1.6b1.7b1.7b1.8b

Total Assets

5.3b6.3b6.0b5.7b5.3b5.7b5.3b6.0b

Accounts Payable

156.0m280.0m215.0m173.0m204.0m208.0m281.0m260.0m

Short-term debt

13.0m13.0m13.0m

Current Liabilities

1.6b2.0b1.9b1.9b1.8b2.1b2.4b2.8b

Long-term debt

2.2b2.9b3.0b3.0b2.8b2.8b2.8b3.0b

Non-Current Liabilities

3.3b3.3b

Total Debt

2.2b2.9b3.0b3.0b2.8b2.8b2.8b3.0b

Total Liabilities

4.3b5.5b5.6b5.4b5.1b5.4b5.7b6.3b

Common Stock

1.0k

Additional Paid-in Capital

1.1b1.1b1.1b1.1b1.1b1.1b1.1b

Retained Earnings

(143.0m)(649.0m)(740.0m)(715.0m)(654.0m)(1.3b)(1.2b)

Total Equity

944.0m743.0m390.0m239.0m210.0m308.0m(320.0m)(269.0m)

Debt to Equity Ratio

3.9 x7.8 x12.5 x13.2 x9.1 x-8.8 x

Debt to Assets Ratio

0.5 x0.5 x0.5 x0.5 x0.5 x0.5 x

Financial Leverage

5.6 x8.4 x15.3 x23.7 x25.4 x18.6 x-16.7 x-22.4 x

Quarterly

USDQ3, 2011Q1, 2012Q2, 2012Q3, 2012Q1, 2013Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020

Cash

290.0m168.0m272.0m219.0m189.0m294.0m102.0m129.0m149.0m142.0m145.0m218.0m168.0m278.0m316.0m345.0m455.0m476.0m567.0m776.0m612.0m905.0m548.0m470.0m541.0m462.0m484.0m

Accounts Receivable

357.0m421.0m306.0m327.0m418.0m328.0m309.0m566.0m394.0m449.0m436.0m338.0m343.0m408.0m318.0m353.0m384.0m361.0m380.0m499.0m42.7m444.0m789.0m781.0m744.0m882.0m763.0m

Prepaid Expenses

89.0m42.0m50.0m50.0m52.0m66.0m61.0m61.0m84.0m72.0m56.0m52.0m58.0m60.0m64.0m60.0m59.0m57.0m57.0m47.0m62.0m58.0m53.0m57.0m57.0m58.0m82.0m

Inventories

28.0m29.0m27.0m27.0m27.0m25.0m25.0m34.0m35.0m37.0m39.0m36.0m39.0m41.0m41.0m38.0m36.0m36.0m38.0m38.0m39.0m40.0m66.0m65.0m67.0m65.0m65.0m

Current Assets

954.0m857.0m838.0m798.0m869.0m883.0m667.0m938.0m808.0m844.0m825.0m799.0m773.0m922.0m874.0m942.0m1.1b1.1b1.2b1.5b1.4b1.6b1.6b1.5b1.6b1.7b1.6b

PP&E

124.0m177.0m172.0m156.0m147.0m138.0m135.0m181.0m187.0m206.0m233.0m226.0m227.0m217.0m210.0m206.0m195.0m197.0m203.0m213.0m214.0m203.0m268.0m295.0m296.0m295.0m294.0m

Goodwill

1.1b1.4b1.4b1.4b1.4b1.4b1.4b1.7b1.7b1.7b1.6b1.6b1.6b1.6b1.6b1.6b1.6b1.6b1.6b1.7b1.7b1.7b1.8b1.8b1.8b1.8b1.8b

Total Assets

3.6b5.4b5.3b5.2b5.2b5.1b4.9b6.3b6.1b6.1b5.9b5.7b5.7b5.6b5.5b5.5b5.3b5.3b5.5b5.9b5.8b5.8b5.9b5.9b6.0b6.3b6.1b

Accounts Payable

141.0m136.0m143.0m117.0m149.0m137.0m121.0m246.0m210.0m221.0m162.0m181.0m151.0m161.0m176.0m156.0m152.0m200.0m166.0m166.0m203.0m168.0m179.0m245.0m208.0m202.0m246.0m

Short-term debt

915.0m30.0m30.0m29.0m68.0m13.0m13.0m13.0m13.0m13.0m13.0m13.0m113.0m111.0m73.0m

Current Liabilities

1.6b1.6b1.5b1.5b1.6b1.6b1.6b2.1b2.0b1.9b1.9b1.8b1.8b1.9b1.8b2.0b1.9b1.9b1.9b2.2b2.3b2.3b2.6b2.5b2.5b2.8b2.7b

Long-term debt

2.0b2.2b2.2b2.2b2.2b2.2b2.0b2.9b2.9b3.0b3.0b3.0b3.0b3.0b2.9b2.8b2.8b2.8b2.8b2.8b2.8b2.8b3.0b3.0b3.0b3.3b3.3b

Non-Current Liabilities

3.3b3.3b3.2b3.3b3.3b

Total Debt

2.0b2.2b2.2b3.1b2.2b2.2b2.1b2.9b2.9b3.0b3.0b3.0b3.0b3.0b2.9b2.9b2.8b2.8b2.8b2.8b2.9b2.8b3.0b3.0b3.0b3.3b3.4b

Total Liabilities

3.9b4.3b4.3b4.2b4.3b4.3b4.1b5.6b5.5b5.7b5.5b5.4b5.4b5.4b5.3b5.3b5.2b5.1b5.2b5.6b5.6b5.6b6.1b6.0b6.1b6.5b6.4b

Common Stock

156.7m1.0k1.0k1.0b1.1b1.1k1.1k17.0m

Additional Paid-in Capital

627.0m1.1b1.1b1.1b1.1b1.1b1.1b1.1b1.1b1.1b1.1b1.1b1.1b1.1b1.1b1.1b1.1b1.1b1.1b1.1b1.1b1.1b1.1b1.1b1.1b1.1b1.1b

Retained Earnings

(1.0b)(57.0m)(93.0m)(125.0m)(223.0m)(221.0m)(283.0m)(378.0m)(438.0m)(623.0m)(691.0m)(673.0m)(717.0m)(713.0m)(702.0m)(711.0m)(747.0m)(726.0m)(615.0m)(650.0m)(778.0m)(758.0m)(1.1b)(1.0b)(1.1b)(1.1b)(1.2b)

Total Equity

(289.0m)1.0b1.0b961.0m864.0m855.0m794.0m698.0m641.0m460.0m314.0m276.0m273.0m239.0m234.0m232.0m140.0m187.0m325.0m321.0m205.0m191.0m(139.0m)(120.0m)(133.0m)(169.0m)(285.0m)

Debt to Equity Ratio

4.2 x4.5 x6.6 x11 x12.5 x12.4 x12.5 x19.7 x14.8 x8.6 x8.8 x14.4 x14.7 x-21.6 x-24.9 x-22.6 x

Debt to Assets Ratio

0.5 x0.5 x0.5 x0.5 x0.5 x0.5 x0.5 x0.5 x0.5 x0.5 x0.5 x0.5 x0.5 x0.5 x0.5 x0.5 x

Financial Leverage

-12.4 x5.2 x5.2 x5.4 x6 x6 x6.2 x9 x9.6 x13.3 x18.6 x20.5 x20.7 x23.5 x23.4 x23.7 x38.1 x28.4 x16.9 x18.3 x28.2 x30.2 x-42.8 x-49.2 x-44.8 x-37.4 x-21.5 x

Warner Music Cash Flow

Annual

USDFY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018FY, 2019

Net Income

(112.0m)(194.0m)(303.0m)(147.0m)30.0m149.0m312.0m258.0m

Depreciation and Amortization

244.0m258.0m321.0m293.0m251.0m261.0m269.0m

Accounts Receivable

(16.0m)(15.0m)72.0m6.0m17.0m(60.0m)(43.0m)(90.0m)

Inventories

1.0m(5.0m)(7.0m)(6.0m)1.0m(3.0m)3.0m

Accounts Payable

39.0m73.0m(87.0m)23.0m48.0m82.0m3.0m

Cash From Operating Activities

209.0m159.0m130.0m222.0m342.0m535.0m425.0m400.0m

Purchases of PP&E

(32.0m)(76.0m)(74.0m)(104.0m)

Capital Expenditures

(34.0m)(42.0m)(44.0m)

Cash From Investing Activities

(58.0m)(808.0m)(155.0m)(95.0m)(8.0m)(126.0m)405.0m(376.0m)

Short-term Borrowings

(600.0m)

Long-term Borrowings

(13.0m)(3.0m)(337.0m)(40.0m)

Dividends Paid

(3.0m)(4.0m)(84.0m)(925.0m)(93.7m)

Cash From Financing Activities

(3.0m)511.0m37.0m(19.0m)(216.0m)(128.0m)(955.0m)88.0m

Net Change in Cash

148.0m2.0m89.0m113.0m288.0m(133.0m)105.0m

Income Taxes Paid

49.0m

Free Cash Flow

125.0m300.0m491.0m

Quarterly

USDQ3, 2011Q1, 2012Q2, 2012Q3, 2012Q1, 2013Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020

Net Income

(102.0m)(26.0m)(60.0m)(94.0m)(80.0m)(78.0m)(141.0m)(36.0m)(97.0m)(279.0m)(41.0m)(22.0m)(65.0m)28.0m40.0m33.0m24.0m44.0m187.0m5.0m4.0m325.0m86.0m153.0m167.0m122.0m46.0m

Depreciation and Amortization

196.0m182.0m61.0m120.0m181.0m78.0m157.0m238.0m93.0m284.0m233.0m75.0m175.0m225.0m63.0m126.0m190.0m65.0m134.0m205.0m68.0m165.0m203.0m71.0m170.0m

Accounts Receivable

93.0m49.0m(23.0m)64.0m81.0m(56.0m)118.0m67.0m(67.0m)20.0m16.0m(63.0m)25.0m(7.0m)(65.0m)(41.0m)(55.0m)(93.0m)(15.0m)(43.0m)(88.0m)(90.0m)(50.0m)(101.0m)6.0m

Inventories

10.0m1.0m1.0m2.0m2.0m(1.0m)(2.0m)(4.0m)(1.0m)(1.0m)(3.0m)(1.0m)(1.0m)3.0m3.0m3.0m2.0m2.0m1.0m(1.0m)13.0m13.0m12.0m10.0m9.0m

Accounts Payable

(169.0m)(79.0m)(53.0m)(74.0m)(80.0m)(79.0m)(121.0m)(96.0m)(47.0m)(49.0m)(86.0m)(11.0m)(41.0m)(47.0m)(12.0m)(43.0m)(55.0m)(23.0m)(100.0m)(84.0m)(92.0m)(100.0m)(94.0m)(44.0m)(109.0m)

Cash From Operating Activities

(18.0m)107.0m(10.0m)125.0m147.0m(52.0m)79.0m41.0m35.0m142.0m118.0m61.0m172.0m207.0m156.0m226.0m309.0m136.0m136.0m265.0m92.0m99.0m249.0m78.0m164.0m

Purchases of PP&E

(34.0m)(24.0m)(7.0m)(13.0m)(23.0m)(12.0m)(30.0m)(46.0m)(24.0m)(39.0m)(51.0m)(10.0m)(23.0m)(31.0m)(40.0m)(26.0m)(59.0m)(82.0m)(15.0m)(28.0m)

Capital Expenditures

(8.0m)(18.0m)(29.0m)(16.0m)(29.0m)

Cash From Investing Activities

(151.0m)(36.0m)(15.0m)(29.0m)(76.0m)(26.0m)(75.0m)(92.0m)(37.0m)(59.0m)(79.0m)(18.0m)5.0m1.0m(12.0m)(12.0m)(6.0m)(6.0m)(28.0m)451.0m(238.0m)(293.0m)(340.0m)(32.0m)(51.0m)

Short-term Borrowings

(31.0m)(86.0m)(100.0m)(230.0m)(490.0m)(100.0m)(173.0m)(258.0m)

Long-term Borrowings

(1.0m)(9.0m)(3.0m)(7.0m)(12.0m)(3.0m)(20.0m)(24.0m)(39.0m)(39.0m)(40.0m)(1.0m)(32.0m)

Dividends Paid

(2.0m)(2.0m)(1.0m)(1.0m)(2.0m)(1.0m)(1.0m)(2.0m)(1.0m)(2.0m)(3.0m)(3.0m)(3.0m)(4.0m)(54.0m)(54.0m)(125.0m)(425.0m)(31.0m)(31.0m)(63.0m)(206.0m)(244.0m)

Cash From Financing Activities

5.0m(2.0m)(86.0m)(97.0m)(260.0m)54.0m(5.0m)43.0m(3.0m)(9.0m)(15.0m)(6.0m)(100.0m)(105.0m)(38.0m)(93.0m)(97.0m)(3.0m)(149.0m)(453.0m)182.0m151.0m119.0m(207.0m)(245.0m)

Net Change in Cash

(149.0m)65.0m(113.0m)(8.0m)(200.0m)(26.0m)(6.0m)(13.0m)(12.0m)61.0m11.0m32.0m70.0m99.0m96.0m117.0m208.0m129.0m(35.0m)258.0m34.0m(44.0m)27.0m(157.0m)(135.0m)

Interest Paid

100.0m110.0m174.0m56.0m42.0m

Income Taxes Paid

5.0m8.0m18.0m3.0m8.0m6.0m16.0m35.0m

Free Cash Flow

148.0m208.0m280.0m120.0m107.0m

Warner Music Operating Metrics

FY, 2017

Artwork Copyrights

1 m

Countries

51

Songwriters and Composers

70 k

Warner Music Employee Rating

3.2406 votes
Culture & Values
3.5
Work/Life Balance
3.5
Senior Management
2.9
Salary & Benefits
3.2
Career Opportunities
2.7
Source