---
schema_version: "secwatch.filing_event.v1"
accession: "0001319161-24-000007"
form_type: "8-K"
ticker: "WMG"
cik: "0001319161"
company_name: "Warner Music Group Corp."
filed_at: "2024-02-07T23:59:59+00:00"
generated_at: "2026-06-06T06:51:03.601140+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Warner Music Q1 revenue up 17% to $1.75B; announces restructuring plan with 600 job cuts

## Summary
- Revenue up 17% to $1.748B; net income $193M vs $124M YoY; Adjusted OIBDA +35% to $451M.
- Recorded Music revenue up 17% to $1.445B; Music Publishing up 22% to $304M; both all-time quarterly highs.
- Restructuring plan targets $200M annualized cost savings by end of fiscal 2025; headcount reduction ~600 (10%).
- Pre-tax charges ~$140M ($85M severance, $55M impairment); majority incurred by end of fiscal 2024.
- Plan includes winding down non-core media properties and in-house ad sales; savings reinvested in core music and tech.

## SEC filing metadata
- accession: 0001319161-24-000007
- form_type: 8-K
- ticker: WMG
- cik: 0001319161
- company_name: Warner Music Group Corp.
- filed_at: 2024-02-07T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 2.05, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1319161/000131916124000007/0001319161-24-000007-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1319161/000131916124000007/wmg-20240207.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001319161-24-000007
- JSON: https://secwatch.observer/filing/0001319161-24-000007.json
- Plain text: https://secwatch.observer/filing/0001319161-24-000007.txt

## Key facts
- Earnings Releases
  Warner Music Group Corp. reported the quarter ended December 31, 2023 results: revenue $1,748, net income $193 million.
  - Period: the quarter ended December 31, 2023
  - Revenue: $1,748
  - Net income: $193 million
  - Result: reported results
  source text: WMG Summary Results (dollars in millions) For the Three Months Ended December 31, 2023 For the Three Months Ended December 31, 2022 % Change (unaudited) (unaudited) Revenue $ 1,748 $ 1,488 17 % Recorded Music revenue 1,445 1,239 17 % Music Publishing revenue 304 250 22 % Operating income 354 265 34 % Adjusted OIBDA (1) 451 335 35 % Net income 193 124 56 %
  evidence_url: https://www.sec.gov/Archives/edgar/data/1319161/000131916124000007/0001319161-24-000007-index.htm
- Restructurings & Charges
  Warner Music Group Corp. announced a restructuring with charges of approximately $140 million of total non-recurring pre-tax charges or approximately $105 million of total after-tax charges affecting Recorded Music and Music Publishing businesses; non-core owned and operated media properties including in-house ad sales function (approximately 600 or 10%).
  - Type: restructuring
  - Charge: approximately $140 million of total non-recurring pre-tax charges or approximately $105 million of total after-tax charges
  - Affected area: Recorded Music and Music Publishing businesses; non-core owned and operated media properties including in-house ad sales function
  - Headcount: approximately 600 or 10%
  source text: 600 or 10%, a majority of which will be related to the O&O Media Properties, Corporate and various support functions. The Plan is expected to result in approximately $140 million of total non-recurring pre-tax charges or approximately $105 million of total after-tax charges. The pre-tax charges include approximately $85 million in severance payments and
  evidence_url: https://www.sec.gov/Archives/edgar/data/1319161/000131916124000007/0001319161-24-000007-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.