Recorded Music revenue grew 6% Y/Y to $1.24 billion. Music Publishing increased 24% Y/Y to $254 million, and Digital grew 7% Y/Y to $989 billion.
Adjusted OIBDA margin decreased 50 bps to 19.9% due to revenue mix and growth of lower-margin revenue streams.
Adjusted EBITDA margin increased 190 bps to 17.7%.
Adjusted net income was $170 million versus $69 million a year ago.
GAAP EPS was $0.28 versus $0.05 the prior year.
Warner Music generated $406 million (+78% Y/Y) in operating cash flow and held $584 million in cash and equivalents. Free cash flow rose 91% Y/Y for $368 million.
Steve Cooper, CEO of Warner Music Group, said, "Our strong fourth quarter and full-year results were driven by our talented artists, songwriters, and teams, across a wide range of genres, geographies, and generations.... We're excited to have Robert Kyncl joining next year as WMG's new CEO as we enter the next dynamic phase of our evolution."
Price Action: WMG shares closed lower by 0.88% at $26.98 on Monday.
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