WMG is also on board for YouTube’s AI music experiments. In the past week, Warner Music Group has confirmed that it has signed up to Deezer’s artist-centric streaming model in France. We are excited about the opportunities that lie ahead for WMG to capitalise on favourable industry trends and drive shareholder value through profitable growth and healthy cash flow conversion in 2024 and beyond.” “This fueled our second-half improvement which, combined with our disciplined cost management, resulted in robust Adjusted OIBDA growth and margin expansion for the full year.

“Our performance in the quarter was underpinned by a solid release slate and momentum in our recorded music streaming growth,” said Bryan Castellani, CFO, Warner Music Group. With these tailwinds at our back, we’ve been working hard to build a WMG that will excel in the music industry of tomorrow and look forward to bringing you incredible music in 2024 from our extraordinary artists and songwriters.” “As the music ecosystem is recognising the value of premium content and emerging markets continue to gain traction, our industry is healthy and growing. Robert Kyncl, who joined as CEO of Warner Music Group at the start of the year, said: “We delivered on our promise of second-half improvement, and reached over $6 billion in annual revenue for the first time in WMG’s history. Warner Music Group has reported its full-year results for the 12 months to September 30, 2023.ĭuring the fiscal year, revenue passed $6 billion for the first time in the major’s history.

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