‘Tis the season for quarterly financial results…
Warner Music Group’s total revenue for the fourth quarter of 2014 was $829 million, up from $815 million for the same period in 2013. However the company had a net loss of $41 million, up from $36 million the previous year.
Recorded music revenue for the quarter was $714 million, up from $691 million. Music publishing revenue was $119 million, down from $128 million.
WMG CEO Stephen Cooper said:
“Some strong new releases, as well as outstanding execution by our operators around the world during the holiday season, made for an excellent start to our fiscal year. Our extraordinary roster of songwriters and artists, combined with our first-class management team and our sustained investment in new opportunities, means that we are well-positioned to build on this success as the industry evolves.”
Nina Ulloa covers breaking news, tech, and more. Follow her on Twitter: @nine_u