Fiscal year revenues see slight decline, however
Warner Music Group announced a slim gain in revenue for the quarter ending Sept. 30 and a small revenue decline for the last full fiscal year.
In the last fiscal quarter, WMG revenue climbed 2% to $731 million, compared to $718 million for the same quarter in 2011. For the full year, revenue slipped 3% to $2.78 billion from $2.86 billlion the prior year.
Digital revenue witnessed anticipated gains of 15% for the quarter (to $241 million) and 13% for the year (to $925 million). The digital side represented a third of WMG’s revenue take for the year.
The company’s net losses declined in the quarter to $18 million, vs. $103 million in the fourth quarter of 2011; for the year, losses fell to $112 million from $205 million in 2011.
In recorded music, revenue grew 4% to $605 million in the quarter; for the year, revenue dipped 3% to $2.27 billion. WMG’s top sellers last quarter included Kokuburo, Tatsuro Yamashita, Green Day, Superfly and Muse, with Michael Buble, Flo Rida and fun. also showing strength over the year.
Music publishing revenue slid 6% to $133 million in the quarter and declined 4% to $524 million for the year.
WMG CEO Stephen Cooper said in a statement, “We had a very productive year. Warner Music Group performed well and is positioned to capitalize on the industry’s more stable recent trends. Among our important achievements, we grew global digital and physical recorded music sales on an aggregate basis, for the quarter and the fiscal year.”