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

Warner Music (WMG) has reported Cost of Revenue for 17 consecutive years, with $1.0 billion the latest figure, recorded in Q2 2026.

• On a quarterly basis, Cost of Revenue rose 10.62% year-over-year to $1.0 billion in Q2 2026; TTM through Jun 2026 was $4.0 billion, a 14.75% increase from a year earlier, with the FY2025 full-year figure at $3.6 billion, up 8.26% from the prior year.
• Cost of Revenue was $1.0 billion for Q2 2026 at Warner Music, up from $930.0 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 $852.9 million and a median of $847.5 million in 2023 frame the typical range for Cost of Revenue.
• Across the five-year window, Cost of Revenue declined 6.97% in 2022 and increased 21.08% in 2025, its largest moves.
• Over 5 years, Cost of Revenue stood at $761.0 million in 2022, then advanced by 15.64% to $880.0 million in 2023, then climbed by 1.59% to $894.0 million in 2024, then rose by 10.4% to $987.0 million in 2025, then increased by 2.33% to $1.0 billion in 2026.
• The last three Cost of Revenue figures came in at $1.0 billion (Q2 2026), $930.0 million (Q1 2026), and $987.0 million (Q4 2025), per Business Quant data.