Warner Music Group Corp. — fact timeline

Warner Music Group Corp. reported the fiscal second quarter ended March 31, 2026 results: revenue $1,732, net income $181 million, EPS $0.35. Guidance reaffirmed.

“Ended March 31, 2025 % Change For the Six Months Ended March 31, 2026 For the Six Months Ended March 31, 2025 % Change (unaudited) (unaudited) (unaudited) (unaudited) Revenue $ 1,732 $ 1,484 17 % $ 3,572 $ 3,150 13 % Recorded Music revenue 1,380 1,175 17 % 2,860 2,520 13 % Music Publishing revenue 353 310 14 % 715 633 13 % Operating income 264 168 57 % 552 382”

Warner Music Group Corp. amended Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto valued at $350 million revolving credit facility and a $1.295 billion term loan A facility (effective 2026-03-11).

“On March 11, 2026, WMG Acquisition Corp. (“Acquisition Corp.”), a subsidiary of Warner Music Group Corp., entered into an amended and restated credit agreement (the “Credit Agreement”) among Acquisition Corp., as borrower, the guarantors party thereto, the lenders party thereto, JPMorgan Chase Bank, N.A., as administrative agent, and the other financial institutions and lenders from time to time party thereto.”

Warner Music Group Corp. incurred credit facility of $350 million revolving credit facility and $1.295 billion term loan A facility with JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto at Borrowings bear interest at SOFR plus applicable margin (1.250% to 1.625% for Te maturing March 11, 2031.

“On March 11, 2026, WMG Acquisition Corp. (“Acquisition Corp.”), a subsidiary of Warner Music Group Corp., entered into an amended and restated credit agreement (the “Credit Agreement”) among Acquisition Corp., as borrower, the guarantors party thereto, the lenders party thereto, JPMorgan Chase Bank, N.A., as administrative agent, and the other financial institutions and lenders from time to time party thereto.”

Warner Music Group Corp. amended Master Operations and Economics Agreement with BCSS W JV Investments (B), L.P. valued at increase their respective initial equity commitment amount by $100 million each (effective 2026-02-04).

“On February 4, 2026, WMG BC Holdco LLC (“WMGCo”), a wholly-owned indirect subsidiary of the Company, entered into an amendment (the “Amendment”) to the Master Operations and Economics Agreement, dated as of June 29, 2025 (the “Master Operations and Economics Agreement”), by and among WMGCo, BCSS W JV Investments (B), L.P. (“BainCo”), a wholly-owned indirect subsidiary of Bain Capital Special Situations, LP, and certain affiliates of the foregoing parties.”

Warner Music Group Corp. incurred credit facility of up to $500 million with The Bank of New York Mellon at Term SOFR for the interest accrual period plus the applicable margin of 2.00%.

“reto (the “Conduit Lenders”), each of the financial institutions from time to time party thereto as committed lenders (the “Committed Lenders” and, together with the Conduit Lenders, the “Lenders”), the conduit managing agents from time to time party thereto, The Bank of New York Mellon, as administrative agent for the Lenders, and The Bank of New York Mellon, as collateral agent for the Secured Parties (as defined inthe Credit Agreement), entered into a Credit and Security Agreement (the “Credit Agreement”) pursuant to which the Lenders have agreed to extend up to $500 million in commitment amounts to the Borrowers, the proceeds of which will be used to acquire, or refinance the acquisition of, Music Products (as defined in the Credit Agreement) and related assets.”

Warner Music Group Corp. announced a restructuring with charges of approximately $200 million on a pre-tax basis or approximately $150 million on an after-tax basis.

“The Company expects to incur total non-recurring charges of approximately $200 million on a pre-tax basis or approximately $150 million on an after-tax basis.”

Bryan Castellani departed as Executive Vice President and Chief Financial Officer at Warner Music Group Corp..

“Bryan Castellani will step down as Executive Vice President and CFO, effective May 5, 2025.”

Armin Zerza was appointed as Executive Vice President and Chief Financial Officer at Warner Music Group Corp..

“pursuant to which he will be appointed Executive Vice President and Chief Financial Officer of the Company, effective May 5, 2025.”

Warner Music Group Corp. reported for the quarter ended March 31, 2024 results: revenue $1,494, net income $96 million. Guidance reaffirmed.

“Ended March 31, 2023 % Change For the Six Months Ended March 31, 2024 For the Six Months Ended March 31, 2023 % Change (unaudited) (unaudited) (unaudited) (unaudited) Revenue $ 1,494 $ 1,399 7 % $ 3,242 $ 2,887 12 % Recorded Music revenue 1,189 1,143 4 % 2,634 2,382 11 % Music Publishing revenue 306 257 19 % 610 507 20 % Operating income 119 124 -4 % 473 389”

Warner Music Group Corp. shareholders approved Approval of the compensation paid to the Company’s named executive officers at the 2024-03-05 meeting.

“Proposal 3: The Company’s stockholders voted to approve the compensation paid to the Company’s named executive officers.”

Warner Music Group Corp. shareholders approved Ratification of appointment of KPMG LLP as independent registered public accounting firm for fiscal year 2024 at the 2024-03-05 meeting.

“Proposal 2: The Company’s stockholders ratified the appointment of KPMG LLP as the Company’s independent registered public accounting firm for fiscal year 2024.”

Warner Music Group Corp. shareholders approved Election of eleven director nominees named in the 2024 Proxy Statement to serve for a one-year term ending at the 2025 Annual Meeting at the 2024-03-05 meeting.

“Proposal 1 : The Company’s stockholders elected the eleven director nominees named in the Company’s 2024 Proxy Statement to serve for a one-year term ending at the 2025 Annual Meeting of Stockholders.”