WMG revenue up 7% but net loss hits $41m
Warner Music Group has posted its financial results for its first financial quarter, ending December 31, 2014.
On a constant currency basis, recorded music revenue was up 8%, while total revenue grew 7%, thanks to strong holiday sales. Digital revenue was also up 14%. Digital revenue represented 35.6% of total revenue, up from 33.9% in the same period the previous year.
Music publishing revenue declined 3.3% in constant currency. Performance revenue was also down 11.8%, driven by timing of collection ...
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