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Warner Music Posts Strong Quarter With 23% Streaming Gain, $1 Billion Recorded-Music Revenue

variety.com

Jem Aswad Senior Music EditorWarner Music Group posted strong results for the quarter that ended March 31, with $117 million in net income on revenues of $1.25 billion.

While it’s hardly an apples-to-apples comparison, that’s a big improvement from the same quarter a year ago, when the company posted a $48 million net income loss.Streaming soared 23.2% while recorded music showed a 16.8% bump to almost $1.06 billion (as opposed to $907 million in Q2 2020), and publishing also showed a big gain,.

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