WARNER U.K. REVENUES UP 37%

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WARNER U.K. REVENUES UP 37%

7/5/18

Revenues at Warner Music’s U.K. operation are out of the red after rising 37% last year when Ed Sheeran helped generate turnover of more than £197m, according to accounts filed at Companies House.

Profits rose by 281% to £18.8m for the year ending 9/29 while shareholders’ funds were up 244% to £11m.

The performance exceeds the increase in revenue for the last financial years at Universal and Sony’s British-based operations. UMG U.K. revenues rose by 8.8% to £344m for its financial year ending 12/31, while Sony’s revenues were up 14% to £226.1m for its year ending 3/31 2017.

In 2016, Warner U.K. made a loss of over £10k. Of that £197m, nearly 90% (£177m) was generated in the U.K.