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Warner Music Group Is Rewiring Its Digital Supply Chain—And That Could Quietly Expand Margins at Scale!

Warner Music Group (WMG) reported a strong financial performance in the fourth quarter and for the entire fiscal year ending September 30, 2025. The company highlighted strategic market maneuvers and operational refinements, contributing to an enhanced market position and robust growth in streaming and overall revenues. The following are key takeaways from the earnings call, reflecting both the positives and negatives in the company’s recent performance. WMG reported a 13% increase in total revenue for the quarter, with recorded music subscription streaming rising by 8.4%. This growth was attributed to increased global subscriber numbers and improved market share, supported by strategic agreements with digital service providers (DSPs) that include wholesale price increases. WMG noted that, compared to fiscal 2024, its share of the Spotify Top 200 improved by around 6 percentage points, securing the #2 market position for nearly half the year. Market share gains were not limited to streaming.