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Warner Music Group’s Quarterly Profits Up 14% on Streaming Growth
Warner Music's quarterly profits were up 14% on streaming growth, while overall revenue fell by 1% on dips in physical music sales and merchandise.
Robert Kyncl attends the 2024 Warner Music Group Pre-GRAMMY Party at Citizen News Hollywood on Feb. 1, 2024 in Los Angeles. Our commitment to long-term artist development, combined with a flatter structure in recorded music, will enable us to super-serve talent and set WMG up for sustained future growth.” BMG began winding down its distribution agreement with WMG’s ADA last September to move control of its 80 billion-stream digital business in-house.
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