WMG reports record revenues and talks up latest DSP deals

Warner Music Group’s latest quarterly financials saw the company post record revenues: $1.87bn in the third quarter of this year – its fiscal Q4. That was up 14.6% year-on-year.

Recorded-music revenues grew 14.6% to $1.53bn while publishing revenues grew 14.2% to $337m that quarter. Streaming revenues were up 7.8% overall.

CEO Robert Kyncl talked up WMG’s market-share gains over the past year during the company’s earnings call yesterday.

“Globally, our share of the Spotify top 200 has jumped by around 6 percentage points versus fiscal 2024, and for the entire quarter, we had the number two market share,” he told analysts.

“A year ago, WMG was facing market share pressure. Today, we’ve laser-focused our resources and investment on the highest return areas of our core music business. This has led to market share gains that have translated into strong, measurable improvement in our financial performance.”

Kyncl cited DSP deals as key factors too. “Since the beginning of 2025, we’ve signed renewals with four of the largest DSPs. All of these deals have wholesale price increases, providing certainty around economics and setting up monetisation models for the future use cases.”