Warner posts earnings record
mainThe the last quarter of the 2020 Covid year, Warner Music Group earned $1.335 billion, an all-time company record.
The sum was up 6.3 percent on 2019.
Good to see someone’s making money in the time of plague.
Comments
MOST READ TODAY:
-
News
Breaking: Hilary Hahn quits the Berlin Philharmonic US tour
The US violinist has announced she is still…
-
News
UPDATE: Juilliard professor caught in the act is fired
We gather that Juilliard has summarily fired a…
-
Orchestras
Just in: Concertgebouw grabs London artistic director
Amsterdam’s Royal Concertgebouw Orchestra has recruited its next…
-
Orchestras
Met names principal guest
The Metropolitan Opera has appointed Daniele Rustioni as…
Norman that’s not true. To begin with, with all the insider trading, and yes the new “Oligarth” friend of you know who head of you know what (IMG) is in on it; that’s not profits at all. And they count that in with how much they “earned!?”
And insider trading, amongst other sorts of it, with the porno industry and advertising firms. It’s disgusting, I’d be truly happy if someone put a stop to it.
Looking at the album cover, I think he didn’t meet Gershwin, but the Angel of Death …
The $1.335 billion is for revenue. A company’s earnings are its after-tax net income, or profits, in a given quarter or fiscal year. This was apparently $99 million, 19% less than in the previous quarter. The details are available on the Warner website.
All quite correct. And it should be noted that in the age of corporate consolidation, there is nothing remarkable about rising revenue. It’s simply an aggregation of formerly separate revenue pies into a bigger, and yes occasionally record, new pie.
Aside from the valid comment below on revenue as opposed to profits (indeed a company’s turnover matters not: its profits are what matters), I am sure that the figures above are pertaining to the whole of the Warner group, including popular music. What would be helpful would be to know how much money Warner Classics earned as profits. The figure will be a lot less impressive.