Warner Music (WMG) Cost of Revenue (2010 - 2026)

Warner Music (WMG) has 17 years of Cost of Revenue data on file, last reported at $930.0 million in Q1 2026.

• Cost of Revenue for Q1 2026 came in at $930.0 million, up 17.57% year-over-year; the trailing twelve-month figure through Mar 2026 was $3.9 billion (up 14.69% YoY), and the FY2025 annual result was $3.6 billion, up 8.26% from the prior year.
• Cost of Revenue slipped to $930.0 million in Q1 2026 per WMG's latest filing, from $987.0 million in the prior quarter.
• Over five years, Cost of Revenue peaked at $1.0 billion in Q3 2025 and troughed at $697.0 million in Q1 2022.
• A 5-year average of $843.7 million and a median of $845.0 million in 2023 frame the typical range for Cost of Revenue.
• The sharpest annual moves came in 2022 and 2025: Cost of Revenue fell 6.97% in 2022, then rose 21.08% in 2025.
• A 5-year view of Cost of Revenue shows it stood at $761.0 million in 2022, then climbed by 15.64% to $880.0 million in 2023, then grew by 1.59% to $894.0 million in 2024, then gained by 10.4% to $987.0 million in 2025, then retreated by 5.78% to $930.0 million in 2026.
• Business Quant data shows WMG's Cost of Revenue at $930.0 million in Q1 2026, $987.0 million in Q4 2025, and $1.0 billion in Q3 2025.