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WMG Q3

SKY FULL OF STATS: Warner Music Group’s fiscal Q3 results seesawed between good news and bad news, as a revenue increase of 16.9% was offset by net losses of $184 million—nearly three times the size of the $62 million loss a year earlier. Here’s a quick breakdown of the stats you care about: Recorded-music revenue grew 22.8%. Music-publishing revenue grew 2.2% due to strength in digital revenue, which grew 26.1%. Digital accounted for 41.1% of total revenue, compared to 38.8% in the prior-year quarter. Growth in digital revenue reflects the acquisition of Parlophone Label Group as well as “strong growth in streaming revenue.” Excluding PLG, digital revenue increased 11.7%. “A stronger release schedule, combined with sustained investment in exceptional artistic talent and first-class execution by our operators, delivered robust results this quarter,” said CEO Stephen Cooper, who always puts two spaces between sentences when he types. ““We are especially pleased to see our strategic moves pay off, with the acquisition of PLG being a key contributor to this quarter’s success. We expect our momentum to continue through the remainder of the fiscal year, due to several exciting artist releases in the coming months.” (8/7a)

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