Full-year revenues at publisher Warner/Chappell declined by 4% to $524m in the 12 months to September 30, 2012.
Digital revenues continued to climb, up from $60m in FY2011 to $67m in FY2012, whilst operating income stood at $85m, up 16% on FY2011 (or 12% adjusted).
Digital Music Publishing revenue represented 12.8% of total Music Publishing revenue in the fiscal year, compared to 11.0% in fiscal year 2011.
WMG said the overall revenue decrease was 'driven by an expected decrease in mechanical revenue due to the ongoing digital transition in the recorded music industry as well as a decrease in performance revenue, partially due to an industry-wide reduction in U.S. radio license fees'.
In Q4, the publisher saw revenues slide 6% to $133m, but digital revenues grew 29% to $22m.
WMG explained: '[Q4] Music Publishing revenue declined 5.7%, but grew 0.8% in constant-currency. Digital revenue grew 29.4% while mechanical revenue declined 3.2%, but grew 7.1% in constant-currency as result of the timing of certain society collections.
'Synchronization revenue declined 10.7%, or 3.8% in constant-currency, reflecting lower video game revenue. Performance revenue declined 13.1%, or 7.0% on constant-currency, partially due to an industry-wide reduction in U.S. radio license fees.'