Warner Music Group Q2 losses widen
As recorded music sales decline 17.6%NEW YORK -- Warner Music Group on Thursday posted a wider fiscal second-quarter loss as recorded music sales declined 17.6%, or 11.4% on a constant-currency basis, and the firm took an impairment charge.
The music company brought in a quarterly loss of $68 million, up from a year-ago loss of $37 million. Revenue declined 17% to $668 million.
Digital music revenue hit $173 million, or 26% of total revenue, up 1% from the previous quarter and up 6% from the prior-year quarter.