Warner Music Group Files Q1 2025 10-Q

TL;DR

WMG filed its Q1 2025 10-Q. Check financials.

AI Summary

Warner Music Group Corp. filed its 10-Q for the period ending December 31, 2024. The filing covers the first quarter of their fiscal year 2025. Key financial details and operational updates for this period are detailed within the report.

Why It Matters

This filing provides investors with a quarterly update on Warner Music Group's financial performance and operational status, crucial for understanding the company's trajectory in the music industry.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial information.

Key Players & Entities

• Warner Music Group Corp. (company) — Filer of the 10-Q
• 2024-12-31 (date) — End of reporting period
• 2025-02-06 (date) — Filing date

FAQ

Key Financial Figures

• $0.001 — which registered Class A Common Stock, $0.001 par value per share WMG The Nasdaq Stoc

Filing Documents

• wmg-20241231.htm (10-Q) — 1189KB
• q12025ex311.htm (EX-31.1) — 9KB
• q12025ex312.htm (EX-31.2) — 9KB
• q12025ex321.htm (EX-32.1) — 4KB
• q12025ex322.htm (EX-32.2) — 4KB
• 0001319161-25-000007.txt ( ) — 6280KB
• wmg-20241231.xsd (EX-101.SCH) — 42KB
• wmg-20241231_cal.xml (EX-101.CAL) — 64KB
• wmg-20241231_def.xml (EX-101.DEF) — 275KB
• wmg-20241231_lab.xml (EX-101.LAB) — 488KB
• wmg-20241231_pre.xml (EX-101.PRE) — 375KB
• wmg-20241231_htm.xml (XML) — 782KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 1 Condensed Consolidated Balance Sheets as of December 31, 2024 and September 30, 2024 1 Condensed Consolidated Statements of Operations for the Three Months Ended December 31, 2024 and December 31, 2023 2 Condensed Consolidated Statements of Comprehensive Income for the Three Months Ended December 31, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Cash Flows for the Three Months Ended December 31, 2024 and December 31, 2023 4 Condensed Consolidated Statements of Equity for the Three Months Ended December 31, 2024 and December 31, 2023 5 Notes to Condensed Consolidated Financial Statements 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 39 Item 4.

Controls and Procedures

Controls and Procedures 40 Part II. Other Information Item 1.

Legal Proceedings

Legal Proceedings 41 Item 1A.

Risk Factors

Risk Factors 41 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 41 Item 3. Defaults Upon Senior Securities 41 Item 4. Mine Safety Disclosures 41 Item 5. Other Information 41 Item 6. Exhibits 42

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS Warner Music Group Corp. Condensed Consolidated Balance Sheets (In millions, except share amounts which are reflected in thousands) (Unaudited) December 31, 2024 September 30, 2024 Assets Current assets: Cash and equivalents $ 802 $ 694 Accounts receivable, net of allowances of $ 24 million and $ 26 million 1,201 1,255 Inventories 84 99 Royalty advances expected to be recouped within one year 473 470 Prepaid and other current assets 156 125 Total current assets 2,716 2,643 Royalty advances expected to be recouped after one year 878 874 Property, plant and equipment, net of accumulated depreciation of $ 632 million and $ 615 million 491 481 Operating lease right-of-use assets, net 221 225 Goodwill 2,013 2,021 Intangible assets subject to amortization, net 2,329 2,359 Intangible assets not subject to amortization 149 152 Deferred tax assets, net 40 52 Other assets 309 348 Total assets $ 9,146 $ 9,155 Liabilities and Equity Current liabilities: Accounts payable $ 189 $ 289 Accrued royalties 2,653 2,549 Accrued liabilities 539 641 Accrued interest 42 17 Operating lease liabilities, current 47 45 Deferred revenue 312 246 Other current liabilities 141 110 Total current liabilities 3,923 3,897 Long-term debt 3,955 4,014 Operating lease liabilities, noncurrent 222 228 Deferred tax liabilities, net 209 195 Other noncurrent liabilities 140 146 Total liabilities $ 8,449 $ 8,480 Equity: Class A common stock, $ 0.001 par value; 1,000,000 shares authorized, 144,301 and 142,559 shares issued and outstanding as of December 31, 2024 and September 30, 2024, respectively $ — $ — Class B common stock, $ 0.001 par value; 1,000,000 shares authorized, 375,380 and 375,380 issued and outstanding as of December 31, 2024 and September 30, 2024, respectively 1 1 Additional paid-in capital 2,091 2,077 Accumulated deficit ( 1,171 ) ( 1,313 ) Accumulated other comprehensive loss, net ( 376 ) ( 247 ) Total Warner Music

View Full Filing

View this 10-Q filing on SEC EDGAR