Warner Music Group (WMG) has shown to have tipped a billion dollars in revenue, after figures for its first fiscal quarter were released.
The music giant reported total revenue growth of 15.1% in the quarter, with digital revenue increasing by 17.6%.
“I’m pleased that we are off to a great start for fiscal ‘19,” said Steve Cooper, Warner Music Group’s CEO. “We have best in class operators working with amazing music from our extraordinary artists and songwriters across a diverse set of genres, generations and geographies.”
“Our first-quarter results are evidence that our long-term strategy is paying off,” added Eric Levin, Warner Music Group’s Executive Vice President and CFO.
Last year, we reported that WMG had liquidated its shares in Spotify, taking a huge cash-out.