WMG's fourth quarter revenues grew 16% overall on strong recorded music and publishing growth.
said, “Against the backdrop of a challenging macro environment, we once again proved music’s resilience, with new commercial opportunities emerging all the time. We’re very well positioned for long-term creative success, and continued top and bottom line growth. We’re excited to have Robert Kyncl joining next year as WMG’s new CEO, as we enter the next dynamic phase of our evolution.”
Digital revenue grew 12.3% at constant currency or 6.8% as reported to $989 million, including a $38 million settlement related to certain copyright infringement cases. Total streaming revenue increased by 8.9% at constant currency due primarily to driven by music publishing streaming revenue, which rose by 37.0% at constant currency .
Music publishing revenue improved 32.3% at a constant currency to $254 million on the strength of digital and performance revenue. Digital revenues jumped 39.5% at constant currency to $159 million. Streaming revenue increased 37.0% in constant currency helped by streaming services and new digital deals.
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