The financials
Warner Music Group Corp. by the numbers
Warner Music Group Corp. (WMG) reported revenue of $1.86B in Q3 2026 (quarter ended June 30, 2026), up 10% from the same quarter a year earlier. That came with a gross margin of 46% and net income of $204M (11% of revenue). For the full year FY2025, revenue was $6.71B (+4.4% year on year) and net income $365M. Its largest product in 2026-Q2 was Digital And Physical at $1.15B, 49% of the disclosed total, just ahead of Digital at 43%.
| Income statement | Q3 2026 | Q3 2025 | Change |
|---|---|---|---|
| Revenue | $1.86B | $1.69B | +10% |
| Gross profit | $854M | $776M | +10% |
| Operating income | $305M | $169M | +80% |
| Net income | $204M | −$16M | to a profit |
| Product | Revenue | Share |
|---|---|---|
| Digital And Physical | $1.15B | 49% |
| Digital | $1.02B | 43% |
| Licensing | $111M | 4.7% |
| Performance | $59M | 2.5% |
| Mechanical | $19M | 0.8% |
| Other | $4.0M | 0.2% |
Business Segments
Revenue split by product segment, from SEC XBRL filings.
Latest period: Q2 2026Total $2.36B (+4.1%)
Mechanical grew +19% year on yearOther 0.00% year on year
Segment Latestquarter on quarteryear on year
- Digital And Physical$1.15B$1.15BQoQ +3.7%year on year +10%+3.7%+10%
- Digital$1.02B$1.02BQoQ +4.2%year on year +9.4%+4.2%+9.4%
- Licensing$111.0M$111.0MQoQ +6.7%year on year 0.00%+6.7%0.00%
- Performance$59.0M$59.0MQoQ +1.7%year on year +1.7%+1.7%+1.7%
- Mechanical$19.0M$19.0MQoQ +12%year on year +19%+12%+19%
- Other$4.0M$4.0MQoQ 0.00%year on year 0.00%0.00%0.00%