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Companies / Consumer Discretionary / Warner Music Group Corp.
WMG

Warner Music Group Corp.

Consumer DiscretionaryServices
Ticker WMGNEW YORK, NYFiscal year ends SeptemberBook value per share $2.28Diluted shares 375.4M

Warner Music Group Corp. (NASDAQ: WMG) is one of the world's leading music entertainment companies, operating through two primary business segments: Recorded Music and Music Publishing. The company generates approximately $6.7 billion in annual revenue, with Recorded Music representing 81 percent and Music Publishing… From the company’s description.

Fiscal year 2025 · ends 09-30Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$6.71B
+4.4% year over year
Last 12 mo $7.30B
10.35%
−2.5 percentage points
Last 12 mo 13.69%
$370.00M
−22.6% year over year
Last 12 mo $665.00M
79.22%
−31.2 percentage points
Last 12 mo 78.69%
Cash & financing
$678.00M
−10.1% year over year
Last 12 mo $939.00M
$539.00M
−15.5% year over year
Last 12 mo $836.00M
6.75
Was 7.75× a year earlier
Last 12 mo 5.52
375.4M
−0.3% year over year
Last 12 mo 375.4M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Warner Music Group Corp. does

In the company’s own words

Warner Music Group Corp. (NASDAQ: WMG) is one of the world's leading music entertainment companies, operating through two primary business segments: Recorded Music and Music Publishing. The company generates approximately $6.7 billion in annual revenue, with Recorded Music representing 81 percent and Music Publishing representing 19 percent of total revenues. Warner Music Group's website is located at www.wmg.com.

The Recorded Music segment discovers, develops, and markets recording artists while handling production, distribution, and licensing of their music. The company operates through iconic record labels including Atlantic Records, Warner Records, Elektra Records, Parlophone Records, and numerous others such as Rhino Entertainment, Asylum, and Spinnin' Records. The roster includes superstar artists such as Ed Sheeran, Bruno Mars, Cardi B, and Dua Lipa. The Music Publishing business, Warner Chappell Music, manages rights to musical compositions from over 190,000 songwriters and composers, representing a global collection exceeding two million musical compositions. Notable songwriters include Twenty One Pilots, Lizzo, and Katy Perry.

The company maintains a substantial global presence with operations across multiple continents, including established markets in North America and Europe as well as emerging markets in China, Brazil, and the Middle East and North Africa region. Warner Music Group benefits from a diversified catalog spanning numerous genres and decades of music history, including timeless standards and contemporary hits.

The company's competitive advantages include its differentiated platform of scale, star-making capabilities through experienced A&R teams, strong financial profile with consistent free cash flow generation, and positioning to benefit from continued streaming adoption globally. Warner Music Group has pursued strategic acquisitions to expand its footprint, including the acquisition of Parlophone Label Group in 2013 and 300 Entertainment in 2022. The company was acquired by Access Industries in 2011 and returned to public markets through an initial public offering in June 2020, with Access retaining controlling interest through Class B Common Stock ownership.

Company details
Sector
Consumer Discretionary
Industry
Services
Headquarters
NEW YORK, NY
Fiscal year end
September
CIK
1319161
SIC
7900

Financial performance, year by year

Fiscal 2013–2025 · USD
$-1.25B$1.08B$3.42B$5.75B$8.08B2013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Warner Music Group Corp. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

288
funds hold it
1 of 35
superinvestors hold it
$1.40B
held by funds, at market
34.1%
of shares held by funds

Superinvestors in Warner Music Group Corp. · what they did last quarter

Bill NygrenINCREASED
Harris Associates (Oakmark)
0.1%of 13F portfolio

Share of each manager’s reported 13F portfolio. Change is in shares held, since the previous quarter.

Largest fund holders · Warner Music Group Corp.’s weight in each

iShares Core S&P Mid-Cap ETF
IJH · iShares Trust
0.11%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.01%of fund net assets
Bridge Builder Large Cap Value Fund
BBVLX · Bridge Builder Trust
0.31%of fund net assets
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.05%of fund net assets
VANGUARD SELECTED VALUE FUND
VASVX · VANGUARD WHITEHALL FUNDS
0.79%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Fund ownership is a subset of institutional 13F ownership — the two describe overlapping populations and must not be added together.

Could not be determined for this company: bond issues.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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  • “How do Warner Music Group Corp. and its peers compare on margins and cash generation over ten years?”
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