Warner Music Group (WMG) revenue breakdown
By segment, Recorded Music is the largest at 81% of fiscal 2025 revenue; Music Publishing grew fastest, 11% a year over 9 years.
By region, United States is the largest at 43% of fiscal 2025 revenue, growing 9% a year over 9 years.
Revenue by segment
Fiscal years, as Warner Music Group reports them in its 10-K filings; fiscal 2025 total $6.7B.
| Segments | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Recorded Music | $2.7B | $3.0B | $3.4B | $3.8B | $3.8B | $4.5B | $5.0B | $5.0B | $5.2B | $5.4B | 81% |
| Music Publishing | $524M | $572M | $653M | $643M | $657M | $761M | $958M | $1.1B | $1.2B | $1.3B | 19% |
Revenue by region
Fiscal years, as Warner Music Group reports them in its 10-K filings; fiscal 2025 total $6.7B.
| Regions | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| United States | $1.4B | $1.6B | $1.8B | $2.0B | $1.9B | $2.4B | $2.7B | $2.8B | $2.9B | $2.9B | 43% |
| All other territories | $1.4B | $1.5B | $1.7B | $1.4B | $1.5B | $1.7B | $1.8B | $2.0B | $2.3B | $2.5B | 37% |
| United Kingdom | $491M | $522M | $593M | $596M | $551M | $620M | $734M | $726M | $774M | $857M | 13% |
| Germany | — | — | — | $504M | $511M | $662M | $613M | $535M | $513M | $515M | 8% |
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Where does Warner Music Group make its money?
In fiscal 2025, by segment: Recorded Music $5.4B, Music Publishing $1.3B.
From Warner Music Group's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.