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Warner Music Group Corp Ordinary Shares - Class A - Stock Quote WMG

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Morningstar's Warner Music Group Corp Ordinary Shares - Class A Stock Analysis

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Warner Music Reports Mixed Q2; Inflation Should Have Minimal Impact on Streaming Demand

Neil Macker, CFA Senior Equity Analyst

Analyst Note

| Neil Macker, CFA |

Warner Music posted a mixed fiscal 2022 second quarter with revenue in line and adjusted EBITDA just below FactSet consensus. Demand for streaming music remains strong, with the emergence of newer platforms like Peloton and TikTok driving growth of 16%. Warner Music’s top line also benefited from the return of live music, but these lower-margin revenues limited margin expansion. We retain our $37 fair value estimate.

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Warner Music Group Corp Ordinary Shares - Class A's Company Profile

Business Description

Warner Music Group is the third largest of the three major global record labels, with Vivendi’s Universal Music in first and Sony Music in second. Warner’s larger segment, recorded music, consists of iconic labels like Atlantic Records, Warner Records, and Parlophone Records and popular artists such as Ed Sheeran, Cardi B, Dua Lipa, and Blake Shelton. Warner Chappell, the firm’s publishing arm, is the home to over 65,000 composers and songwriters with over a million copyrights represented. Warner is controlled by Access Industries, which owns an 84% economic interest and 99% of voting rights.

Contact
1633 Broadway
New York, NY, 10019
T +1 212 275-2000
Sector Communication Services
Industry Entertainment
Most Recent Earnings Mar 31, 2022
Fiscal Year End Sep 30, 2022
Stock Type Classic Growth
Employees 5,900