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Warner Music Revenue Takes a Hit in Pandemic-Impacted Quarter as Streaming Sees 9% Growth

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Warner Music Group posted a $74 million net loss on revenues of $1.071 billion for the three-month period ended March 31, versus a net income of $67 million on $1.09 billion in corresponding year-earlier quarter.

That represents a net income decline of $141 million and a 1.7% drop in revenue.The company attributed the less than stellar comparative results to a preceding strong second quarter in 2019, which was boosted by a surge in revenue from a settlement with SiriusXM; as well as in the just-completed quarter, a $19 million impact of the COVID-19 pandemic in foreign territories where the virus spread earlier than the U.S.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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