Warner Music (WMG) Operating Expenses (2010 - 2026)
Warner Music (WMG) posted quarterly Operating Expenses of $1.5 billion for Q1 2026, up 11.55% year-over-year from $1.3 billion in Q1 2025, and down 5.11% quarter-over-quarter from $1.5 billion in Q4 2025.
Warner Music (WMG) Operating Expenses (2010 - 2026) Analysis & Trends
Warner Music (WMG) has reported Operating Expenses for 17 consecutive years, with $1.5 billion the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Expenses rose 11.55% year-over-year to $1.5 billion; the TTM figure through Mar 2026 stood at $6.3 billion (up 11.73% YoY), while the FY2025 annual figure was $6.0 billion, up 6.71% from the prior year.
- Operating Expenses eased to $1.5 billion in Q1 2026 per WMG's latest filing, from $1.5 billion in the prior quarter.
- Across five years, Operating Expenses topped out at $1.7 billion in Q3 2025 and bottomed at $1.2 billion in Q1 2022.
- Historically, Operating Expenses has averaged $1.4 billion across 5 years, with a median of $1.4 billion in 2023.
- Annual changes were most pronounced in 2022 — Operating Expenses slipped 8.07% — and 2025, when it rose 16.01%.
- Warner Music's Operating Expenses stood at $1.3 billion in 2022, then climbed by 11.63% to $1.4 billion in 2023, then increased by 2.91% to $1.5 billion in 2024, then gained by 6.54% to $1.5 billion in 2025, then slipped by 5.11% to $1.5 billion in 2026.
- Business Quant data shows WMG's Operating Expenses at $1.5 billion in Q1 2026, $1.5 billion in Q4 2025, and $1.7 billion in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Netflix | 325.80 Bn | 316.67 Bn | 6.52 Bn | 1.32 Bn |
| 2 | Walt Disney | 180.88 Bn | 175.70 Bn | 11.57 Bn | 20.49 Bn |
| 3 | Warner Bros. Discovery | 71.60 Bn | 68.23 Bn | 4.10 Bn | 8.48 Bn |
| 4 | Live Nation Entertainment | 41.97 Bn | 32.90 Bn | 1.94 Bn | 1.24 Bn |
| 5 | Fox | 26.42 Bn | 22.22 Bn | - | 2.38 Bn |
| 6 | Liberty Media | 23.42 Bn | 21.96 Bn | 329.00 Mn | 846.00 Mn |
| 7 | Roku | 23.35 Bn | 20.80 Bn | 673.70 Mn | 527.52 Mn |
| 8 | News | 18.65 Bn | 16.55 Bn | - | 991.00 Mn |
| 9 | TKO Group Holdings | 14.38 Bn | 12.83 Bn | 990.96 Mn | 1.12 Bn |
| 10 | Warner Music | 9.85 Bn | 9.23 Bn | 854.00 Mn | 1.56 Bn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 1.56 Bn |
| Mar 31, 2026 | 1.47 Bn |
| Dec 31, 2025 | 1.55 Bn |
| Sep 30, 2025 | 1.73 Bn |
| Jun 30, 2025 | 1.52 Bn |
| Mar 31, 2025 | 1.32 Bn |
| Dec 31, 2024 | 1.45 Bn |
| Sep 30, 2024 | 1.49 Bn |
| Jun 30, 2024 | 1.35 Bn |
| Mar 31, 2024 | 1.39 Bn |
| Dec 31, 2023 | 1.41 Bn |
| Sep 30, 2023 | 1.37 Bn |
| Jun 30, 2023 | 1.38 Bn |
| Mar 31, 2023 | 1.28 Bn |
| Dec 31, 2022 | 1.26 Bn |
| Sep 30, 2022 | 1.33 Bn |
| Jun 30, 2022 | 1.29 Bn |
| Mar 31, 2022 | 1.21 Bn |
| Dec 31, 2021 | 1.38 Bn |
| Sep 30, 2021 | 1.28 Bn |