Warner Music Group has issued preliminary figures for its fiscal third quarter – Q2 in the calendar year.
The surprise move follows the sudden departure of CFO and COO Armin Zerza on Friday evening (July 31). The major then named Warner Music veteran Tom Corson as the new COO, while Lou Dickler assumed the role of acting CFO.
Warner Music has subsequently brought forward its financial results for the fiscal third quarter by one day to Wednesday (August 5).
In addition, it has today issued some positive preliminary figures, with the proviso that they are not final results and are unaudited.
It follows results for Sony and UMG last week with Universal Music’s share price sliding – despite apparently solid growth – as the market leader’s streaming revenue and margin results came in below analysts’ expectations.
For the three months to June 30, 2026, Warner Music consolidated revenue is estimated to have increased 9% year-on-year in constant currency (all figures will be stated in constant currency) to approximately $1.864 billion.
Based on preliminary figures, Warner Recorded Music revenue (prior to intersegment eliminations) is estimated to have increased 9% year-on-year to approximately $1.488bn.
Again with the proviso that these are not final results, Warner Music Publishing revenue is estimated to have increased 11% year-on-year to approximately $377 million.
Recorded Music streaming revenue is estimated to have increased 10% year-on-year to approximately $1 billion. The streaming revenue preliminary result reflects growth in subscription revenue of 11% and in ad-supported revenue of 8%.
Music Publishing digital revenue is estimated to have increased 15% to approximately $235m.
Operating income is estimated to have increased 80% year-on-year to approximately $305m for the quarter. Meanwhile, adjusted OIBDA is estimated to have increased 15% to approximately $433m.
Warner Music attributed the increase to strong operating performance in the quarter and savings from the company’s restructuring plans.
Music Week will report the full Warner Music fiscal Q3 results later this week.
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