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Warner Music (WMG) Cost of Revenue (2016 - 2026)

Warner Music has reported Cost of Revenue over the past 16 years, most recently at $987.0 million for Q4 2025.

  • Quarterly Cost of Revenue rose 10.4% to $987.0 million in Q4 2025 from the year-ago period, while the trailing twelve-month figure was $3.7 billion through Dec 2025, up 10.57% year-over-year, with the annual reading at $3.6 billion for FY2025, 8.26% up from the prior year.
  • Cost of Revenue was $987.0 million for Q4 2025 at Warner Music, down from $1.0 billion in the prior quarter.
  • Over five years, Cost of Revenue peaked at $1.0 billion in Q3 2025 and troughed at $623.0 million in Q1 2021.
  • The 5-year median for Cost of Revenue is $808.5 million (2021), against an average of $814.3 million.
  • Year-over-year, Cost of Revenue increased 29.22% in 2021 and then fell 6.97% in 2022.
  • A 5-year view of Cost of Revenue shows it stood at $818.0 million in 2021, then fell by 6.97% to $761.0 million in 2022, then rose by 15.64% to $880.0 million in 2023, then grew by 1.59% to $894.0 million in 2024, then grew by 10.4% to $987.0 million in 2025.
  • Per Business Quant, the three most recent readings for WMG's Cost of Revenue are $987.0 million (Q4 2025), $1.0 billion (Q3 2025), and $913.0 million (Q2 2025).