The earnings call for WMG presented a strong performance in both Q4 and the full year, with robust growth in streaming and music publishing revenues. Strategic expansions and investments were highlighted, alongside a share repurchase program indicating confidence in future growth. However, there were challenges in ad-supported streaming and physical sales, alongside a decrease in operating cash flow for Q4.

Company Guidance

During Warner Music Group's Q4 2024 earnings call, key guidance metrics highlighted included an 11% increase in Recorded Music subscription streaming revenue and a 6% rise in total company revenue, both presented in constant currency. The quarter also saw a 14% growth in adjusted OIBDA, with margin improving by 150 basis points. The full-year figures showed total revenue growth of 7% and a 12% increase in Recorded Music subscription streaming revenue. The company announced a strategic focus on margin expansion, targeting a 100 basis point increase annually over the coming years, and a share repurchase program of up to $100 million, demonstrating confidence in its financial outlook. Additionally, Warner Music Group plans to leverage its streamlined organization and increased A&R investments to drive future growth in high-potential markets, such as India, where revenue surged over 100% in fiscal 2024.

Strong Q4 and Full Year Results

Recorded Music subscription streaming revenue increased by 11% in Q4, marking the fourth consecutive quarter of double-digit growth. Total revenue was up 6% and adjusted OIBDA grew 14%, with a margin increase of 150 basis points. Full year revenue and adjusted OIBDA growth were 7% and 11% respectively.

Music Publishing Growth

Music Publishing total revenue increased 14% on a normalized basis for the full year, driven by 19% streaming growth.

Strategic Investments and Expansions

WMG strengthened its presence in the U.S. and globally, with expansions in Japan, Korea, and India, and acquisitions such as Cloud 9 Recordings in Benelux and Africori in Africa.

Board-Approved Share Repurchase

The Board authorized a share repurchase program of up to $100 million, demonstrating confidence in the company's value and future prospects.

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Warner Music Group (WMG) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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WMG Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 07, 2018	2018 (Q3)	- / 0.63	0.276	127.17% (+0.35)	―	―
Dec 20, 2018	2018 (Q4)	- / -0.03	-0.076	64.47% (+0.05)	―	―
Feb 05, 2019	2019 (Q1)	- / 0.17	0.008	2012.50% (+0.16)	―	―
May 07, 2019	2019 (Q2)	- / 0.13	-0.006	2283.33% (+0.14)	―	―
Aug 06, 2019	2019 (Q3)	- / 0.03	0.627	-95.85% (-0.60)	―	―
Nov 27, 2019	2019 (Q4)	- / 0.18	-0.027	751.85% (+0.20)	―	―
Jan 31, 2020	2020 (Q1)	- / 0.23	0.169	39.05% (+0.07)	―	―
May 07, 2020	2020 (Q2)	- / -0.15	0.131	-214.50% (-0.28)	―	―
Aug 04, 2020	2020 (Q3)	- / -1.03	0.026	-4061.54% (-1.06)	―	―
Nov 23, 2020	2020 (Q4)	- / 0.00	0.176	―	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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WMG Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 21, 2024	$33.67	$31.18	-7.40%
Aug 07, 2024	$27.79	$28.32	+1.91%
May 09, 2024	$35.05	$32.02	-8.64%
Feb 07, 2024	$35.41	$34.53	-2.49%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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