Digital was Warner Music’s largest segment in fiscal 2025, bringing in $7.19B of $11.83B (61%).
| Segment | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|
| Total Digital & Physical | $7.74B | — | — | — | ||||
| Digital | $1.13B | $6.64B | $7.04B | $7.19B | ||||
| Artist Services & Expanded-Rights | $1.53B | $1.49B | $1.37B | $1.67B | ||||
| Physical | $1.13B | $1.01B | $1.04B | $1.05B | ||||
| Licensing | $662.00M | $764.00M | $1.00B | $904.00M | ||||
| Performance | $318.00M | $346.00M | $396.00M | $456.00M | ||||
| Synchronization | $344.00M | $334.00M | $350.00M | $394.00M | ||||
| Mechanical | $100.00M | $126.00M | $116.00M | $126.00M | ||||
| Other | $28.00M | $32.00M | $32.00M | $36.00M | ||||
| Total | $12.97B | $10.75B | $11.34B | $11.83B |
Warner Music brought in $11.83B from its eight segments in fiscal 2025, the year ended September 30, 2025. That was up 4.3% from $11.34B in fiscal 2024. Digital was the largest at $7.19B (60.8%), ahead of Artist Services & Expanded-Rights at $1.67B (14.1%) and Physical at $1.05B (8.9%). The other five segments brought in $1.92B combined.
Compared with fiscal 2024, Artist Services & Expanded-Rights grew fastest, up 22.1% to $1.67B, while Licensing fell the most, down 9.8% to $904.00M.
Warner Music stopped reporting Total Digital & Physical as a separate segment after fiscal 2022, when it brought in $7.74B.
All Other Territories was Warner Music’s largest region in fiscal 2025, bringing in $4.92B of $12.03B (41%).
| Geography | FY 2011 | FY 2012 | FY 2013 | FY 2014 | FY 2015 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| International | — | — | — | — | |||||||||
| United States | $4.46B | $4.37B | $4.42B | $4.36B | |||||||||
| All Other Territories | $3.66B | $4.02B | $4.54B | $4.92B | |||||||||
| United Kingdom | $1.47B | $1.45B | $1.55B | $1.71B | |||||||||
| Germany | $1.23B | $1.07B | $1.03B | $1.03B | |||||||||
| Total | $10.81B | $10.91B | $11.53B | $12.03B |
Warner Music brought in $12.03B from its four regions in fiscal 2025, the year ended September 30, 2025. That was up 4.3% from $11.53B in fiscal 2024. All Other Territories was the largest at $4.92B (40.9%), ahead of United States at $4.36B (36.3%) and United Kingdom at $1.71B (14.3%). The remaining region, Germany, brought in $1.03B.
Compared with fiscal 2024, United Kingdom grew fastest, up 10.7% to $1.71B, while United States fell the most, down 1.3% to $4.36B. From fiscal 2022 to 2025, combined revenue from these regions grew from $10.81B to $12.03B, a compound annual growth rate of 3.6%. All Other Territories' share of the total rose from 33.8% to 40.9%.
Recorded Music was Warner Music’s largest segment in fiscal 2022, bringing in $5.47B of $7.39B (74%).
| Statement Business Segments | FY 2010 | FY 2012 | FY 2013 | FY 2014 | FY 2015 | FY 2022 |
|---|---|---|---|---|---|---|
| Recorded Music | $5.47B | |||||
| All Other Territories | — | |||||
| United States | — | |||||
| Music Publishing | $1.92B | |||||
| United Kingdom | — | |||||
| Corporate Expenses & Eliminations | — | |||||
| Total | $7.39B |
Warner Music brought in $7.39B from its two segments in fiscal 2022, the year ended September 30, 2022. Recorded Music was the largest at $5.47B (74.1%), ahead of Music Publishing at $1.92B (25.9%).
Warner Music (WMG) reports its revenue by segment, by geography and by statement business segments. In fiscal 2025, Digital was its largest segment, bringing in $7.19B (60.8% of the total), followed by Artist Services & Expanded-Rights at $1.67B (14.1%).
Digital was Warner Music's largest segment in fiscal 2025, bringing in $7.19B, or 60.8% of the $11.83B total across its eight segments.
All Other Territories was Warner Music's largest region in fiscal 2025, bringing in $4.92B, or 40.9% of the $12.03B total across its four regions.
Among Warner Music's segments that make up at least 2% of revenue, Artist Services & Expanded-Rights grew fastest in fiscal 2025, up 22.1% from $1.37B to $1.67B.
Every figure comes from Warner Music's annual financial filings, as reported. Each line keeps the name Warner Music gives it, and years follow its fiscal calendar.
Warner Music's revenue by segment goes back to fiscal 2018, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.