The Warner Music Group posted a $74 million net loss on revenues of $1.071 billion for the three-month period ended March 31, versus a net income of $67 million on $1.09 billion in corresponding year-earlier quarter.
That represents a net income decline of $141 million and a 1.7% drop in revenue.The company attributed the less than stellar comparative results to a preceding strong second quarter in 2019, which was boosted by a surge in revenue from a settlement with SiriusXM; as well as the impact of the COVID-19 pandemic in foreign territories where the virus spread earlier than the U.S.On the other hand, the company touted the growth of recorded music streaming revenue, which jumped 9.1% (11% in constant to $586 million during the second.
Read more on billboard.com
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.