Warner Music UK revenues up 37%

Warner Music UK revenues up 37%

Warner Music UK’s revenues increased by 37% in 2017, according to results lodged at Companies House.

In the 12-month period ending September 29, 2017, turnover reached £197.4 million, up from £144.5m in 2016 (a restated result). The 37% rise in turnover is ahead of the company-wide increase in revenue at Warner Music Group.

In a year in which Warner Music enjoyed huge success with Ed Sheeran, the British arm of the major saw profits surge by 281% to £18.85m. Shareholders’ funds have increased by 244% as a result.

The UK accounted for 89% of revenue, with 11% from the rest of the world.

The major noted that the Warner divestment process will lead to a “reduced royalty consideration” for the current financial year.

Warner outlined the royalty consideration for 2017 with its subsidiaries, including 679 Recordings (£305,000), 1967 Limited (£215,000), A+E Records (£625,000), B Unique Records (£15,000), Warner Records 90 (£117,000) and Infectious (£300,000). The National Video Corporation’s royalties totalled £294,826.

In its strategic support, the company noted the “ongoing political uncertainty around the UK exiting the European Union”.

Warner Music International Services, which provides services to global affiliates, reported revenues of £71.7m, an increase of 10%.

author twitter FOLLOW Andre Paine

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