Some of those limitations include: (1) it does not reflect the periodic costs of certain capitalized tangible and intangible assets used in generating revenue for our business; (2) it does not reflect the significant interest expense or cash requirements necessary to service interest or principal payments on our indebtedness; and (3) it does not reflect every cash expenditure, future requirements for capital expenditures or contractual commitments. For convenience purposes, the Company continues to date its financial statements as of December 31. Warner Music Germany Die offizielle Homepage. Factors affecting period-to-period comparability of the unadjusted measures in the quarter included the items listed in Figure 7 below. Warner Music International, a leading company in national and international repertoire operates through numerous international affiliates and licensees in more than 50 countries. Warner Music Group Corp. - Calculation of Free Cash Flow, Three Months Ended December 31, 2020 versus December 31, 2019(dollars in millions) For the Three Months Ended December 31, 2020 For the Three Months Ended December 31, 2019 (unaudited) (unaudited)Net cash provided by operating activities$169 $78 Less: Capital expenditures18 15 Less: Net cash paid for investments325 17 Free Cash Flow$(174) $46 Adjusted EBITDA Adjusted EBITDA is equivalent to “EBITDA” as defined in our Revolving Credit Facility and our 2020 indenture and substantially similar to “Consolidated EBITDA” as defined under our 2012 and 2014 indentures and “EBITDA” as defined under our Senior Term Loan Facility, respectively. Warner Music ist die Heimat vieler großer nationaler und internationaler Künstler. Warner Music Canada is a division of WMG, with interests in recorded music, music publishing and artist services. With a legacy extending back over 200 years, Warner Music Group today is home to an unparalleled family of creative artists, songwriters, and companies that are moving culture across the globe. Nguyen joins Warner Music Vietnam after serving as Head of Zing Media, the digital media specialist owned by Vietnam’s VNG Corporation. Music Publishing Revenue(dollars in millions) For the Three Months Ended December 31, 2020 For the Three Months Ended December 31, 2019 For the Three Months Ended December 31, 2019 As reported As reported Constant (unaudited) (unaudited) (unaudited)Revenue by Segment: Music Publishing Performance$30 $46 $47 Digital99 73 73 Mechanical11 15 16 Synchronization33 36 37 Other2 3 3 Total Music Publishing$175 $173 $176 Music Publishing revenue increased 1.2% (or was down 0.6% in constant currency). Mechanical revenue also decreased due to COVID-related business disruption and the continuing shift to streaming. NEW YORK, Jan. 18, 2021 (GLOBE NEWSWIRE) -- Warner Music Group Corp. will release its financial results on Monday, February 1, 2021, for the first quarter ended December 31, 2020, and will hold an earnings update conference call that afternoon at 4:30 p.m. To view open positions and apply for a job visit warnermusiccareers.com Warner Chappell Production Music is a worldwide leader within the production and custom music industry, with over 40 years of experience and success. Prominent A&R executive and noted hip-hop mentor Dallas Martin has been named to lead Asylum Records as President of the growing Warner Music Group (WMG) imprint. At the core of WMG's Recorded Music division are … Warner Music Group Corp. - Revenue by Geography and Segment, Three and Twelve Months Ended September 30, 2020 versus September 30, 2019 As Reported and Constant Currency (dollars in … An example of this is on the credits for the American artists albums which states i.e. Figure 5. The dividend is payable on March 1, 2021, to stockholders of record as of the close of business on February 22, 2021. Title track from their forthcoming EP drops today. Adjusted EBITDA differs from the term “EBITDA” as it is commonly used. ET. WARNER MUSIC GROUP CORP. : Press releases relating to WARNER MUSIC GROUP CORP. Investor relations | Nasdaq: WMG | Nasdaq Accordingly, OIBDA should be considered in addition to, not as a substitute for, operating income (loss), net income (loss) and other measures of financial performance reported in accordance with U.S. GAAP. January 18, 2021. Warner Music Group uses its website as a channel of distribution of material Company information. Home /. Bei warnermusic.de gibt's alle … Revenue was up 6.3% (or up 3.8% in constant currency). The definition of Adjusted EBITDA, in addition to adjusting net income to exclude interest expense, income taxes, and depreciation and amortization, also adjusts net income by excluding items or expenses such as, among other items, (1) the amount of any restructuring charges or reserves; (2) any non-cash charges (including any impairment charges); (3) any net loss resulting from hedging currency exchange risks; (4) the amount of management, monitoring, consulting and advisory fees paid to Access under the Management Agreement or otherwise; (5) business optimization expenses (including consolidation initiatives, severance costs and other costs relating to initiatives aimed at profitability improvement); (6) transaction expenses; (7) equity-based compensation expense; and (8) certain extraordinary, unusual or non-recurring items. Financial and other material information regarding Warner Music Group is routinely posted on and accessible at http://investors.wmg.com. The change was largely a result of strong operating performance, timing of working capital, including payments from certain digital service providers. We are thrilled to have the support from Universal Music and Warner Music to deliver key recordings from their catalogs, exclusively for Amazon Music customers. Prior to termination of the management agreement, the annual fee was equal to the greater of a base amount, equal to approximately $4 million for the twelve months ended December 31, 2020, and 1.5% of EBITDA (as defined in the indenture governing the redeemed Holdings 13.75% Senior Notes due 2019) of the Company for the applicable fiscal year, plus expenses. Our website and the information posted on it or connected to it shall not be deemed to be incorporated by reference into this communication. Please check your details. Discover new investment ideas by accessing unbiased, in-depth investment research, NasdaqGS - NasdaqGS Real Time Price. In addition, OIBDA, as we calculate it, may not be comparable to similarly titled measures employed by other companies. Warner Chappell Music, the global music publishing company of WMG, is home to an extraordinary catalog that includes timeless standards and contemporary hits, representing works by over 65,000 songwriters and composers, with a collection of more than one million copyrights. All products are made in the USA A hassle-free bulletin subscription that'll save you time & money. Email * Subscribe! At the core of WMG's Recorded Music division are four of the most iconic companies in history: Atlantic, Elektra, Parlophone and Warner Records. Adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of our results as reported under U.S. GAAP. Cash provided by operating activities was $169 million compared to $78 million in the prior-year quarter. Currency in USD, Trade prices are not sourced from all markets. Warner Music Group Corp. - Reconciliation of Net Income to OIBDA, Three Months Ended December 31, 2020 versus December 31, 2019(dollars in millions) For the Three Months Ended December 31, 2020 For the Three Months Ended December 31, 2019 % Change (unaudited) (unaudited) Net income attributable to Warner Music Group Corp.$98 $120 -18%Income attributable to noncontrolling interest1 2 -50%Net income$99 $122 -19%Income tax expense35 5 —%Income including income taxes$134 $127 6%Other expense, net31 5 —%Interest expense, net31 33 -6%Operating income$196 $165 19%Amortization expense52 47 11%Depreciation expense19 24 -21%OIBDA$267 $236 13%Operating income margin14.7% 13.1% OIBDA margin20.0% 18.8% Figure 6. Spearheaded by LVRN founders Tunde Balogun and Justice Baiden, the... Warner Music Group (WMG) today announced an investment in the Arab world’s leading independent record label, Rotana Music, part of Rotana Group. Also available are a super deluxe vinyl set and a cassette. Warner Music Group does not undertake an obligation to update forward-looking statements. The Warner Music Shop will retail a signed version of the standard vinyl, while a coloured vinyl will also be available from specialist independent retailers. Adjusted operating income increased 24.9% from $169 million to $211 million due to the same factors affecting Adjusted OIBDA. Sky... Multi-Platinum artist and songwriter Aya Nakamura, the biggest French breakthrough star of the last three years, has signed a new globally exclusive deal with Warner Chappell Music, three years after having signed her first agreement with the... Kim Hojoong has just had one of the biggest global album successes of the year with the launch of The Classic Album. Net income was $99 million compared to $122 million in the prior-year quarter. Recorded Music Recorded Music Summary Results (dollars in millions) For the Three Months Ended December 31, 2020 For the Three Months Ended December 31, 2019 % Change (unaudited) (unaudited) Revenue$1,161 $1,084 7%Digital revenue727 633 15%Operating income223 191 17%Adjusted operating income(1)229 188 22%OIBDA(1)269 241 12%Adjusted OIBDA(1)275 238 16% (1) See "Supplemental Disclosures Regarding Non-GAAP Financial Measures" at the end of this release for details regarding these measures. The five-time Latin Grammy winner has released thirteen studio albums in his own name and written for other high-profile international... Warner Latina and Warner Records today announced the signing of an exclusive distribution deal with Puerto Rican musical phenomenon, Myke Towers, and his independent label, Whiteworld Music. While its team settles down in Vietnam, WMG is gradually speeding its efforts in opening its new office in India, after the subsequent opening of its Turkey and Peru offices over the last year. Warner Chappell Music - which traces its origins back to the founding of Chappell & Company in 1811 - is one of the world's leading music publishers, with a catalog of more than one million copyrights spanning every musical genre from the standards of the Great American Songbook to the biggest hits of the 21st century. About Warner Music Group With a legacy extending back over 200 years, Warner Music Group today is home to an unparalleled family of creative artists, songwriters, and companies that are moving culture across the globe. (i)Reflects non-cash activity, including the unrealized losses (gains) on the mark-to-market of an equity method investment, investment losses (gains) and other non-cash impairments. We maintain an Internet site at www.wmg.com. OIBDA increased to $269 million from $241 million in the prior-year quarter and OIBDA margin increased 1.0 percentage point to 23.2%. This communication includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Nguyen joins Warner Music Vietnam after serving as Head of Zing Media, the digital media specialist owned by Vietnam’s VNG Corporation. Warner Music International (formerly WEA International) is the international copyright holder and distributor for North American artists on the Warner Music record labels. Free Cash Flow, as we calculate it, may not be comparable to similarly titled measures employed by other companies. Registration section is facing technical error. The decreases in performance revenue and synchronization revenue were primarily due to COVID-related business disruption. Warner Latina and Warner Records announced the signing of an exclusive distribution deal with Puerto Rican musical phenomenon, Myke Towers, and his independent label, Whiteworld Music. Thank you for signing up. To download higher-resolution or unmasked versions of these photos you should login as an accredited press-member. linkin park enlist 100 gecs for “one step closer (100 gecs reanimation)" linkin park celebrate hybrid theory 20th anniversary edition by dropping previously unreleased song “she couldn’t” linkin park and friends celebrate life in honor of chester bennington "The strong double-digit growth in our digital revenue and direct-to-consumer business more than offset the continued disruption to our performance, merchandising, and physical revenue. More information about Warner Music Group and other risks related to Warner Music Group are detailed in Warner Music Group’s most recent annual report on Form 10-K and its quarterly reports on Form 10-Q and current reports on Form 8-K as filed with the Securities and Exchange Commission. Recorded Music licensing revenue was flat. TIDAL is an innovative platform to experience and discover music from artists around the world, enjoy access to exclusive and curated content, and connect and share with artists. Warner Music South Africa proudly presents Locnville’s latest offering. Press Releases. As such, all references to December 31, 2020 and December 31, 2019 relate to the periods ended December 25, 2020 and December 27, 2019, respectively. Warner Records announced today the launch of an innovative strategic partnership with BPG Music, founded by influential industry leaders Gee Roberson and longtime business partner Jean Nelson. Figure 7. Operating income was $196 million compared to $165 million in the prior-year quarter. Digital revenue growth was partially offset by declines in performance, mechanical and synchronization revenue. Digital revenue growth reflects the continuing shift to streaming, the Company’s largest and fastest-growing source of revenue. We are well-positioned for long-term growth.” Total WMG Total WMG Summary Results (dollars in millions) For the Three Months Ended December 31, 2020 For the Three Months Ended December 31, 2019 % Change (unaudited) (unaudited) Revenue$1,335 $1,256 6%Recorded Music revenue1,161 1,084 7%Music Publishing revenue175 173 1%Digital revenue825 706 17%Operating income196 165 19%Adjusted operating income(1)211 169 25%OIBDA(1)267 236 13%Adjusted OIBDA(1)282 240 18%Net income99 122 -19%Adjusted net income(1)114 126 -10%Net cash provided by operating activities169 78 —% (1) See "Supplemental Disclosures Regarding Non-GAAP Financial Measures" at the end of this release for details regarding these measures. This page includes higher-resolution photos, profile images, logos, interviews and other press information such as image credits. Warner Chappell also includes Warner Chappell Production Music. Warner Music Group Corp. - Revenue by Geography and Segment, Three and Twelve Months Ended September 30, 2020 versus September 30, 2019 As Reported and Constant Currency (dollars in … Technical Error. See below for calculations and reconciliations of Adjusted operating income, Adjusted OIBDA, Adjusted net income and Adjusted EBITDA. (d)Reflects losses from hedging activities and unrealized losses (gains) losses due to foreign exchange on our Euro-denominated debt and intercompany transactions. The home of classical music: Warner Classics and Erato present artists from Maria Callas to Joyce DiDonato, Mstislav Rostropovich to Gautier Capuçon Basic and Diluted earnings per share was $0.18 and $0.19 for the Class A and Class B shareholders, respectively, due to the net income attributable to the Company in the current quarter of $98 million. 'Artists first' ist das Motto der Warner Music Group Germany. Music Press Asia. Listen to the single here Pre-add the EP here Johannesburg, 10th January 2020: MTV-EMA winning twins, Andrew & Brian Chaplin, aka Locnville kick the new year and decade off with a head bumping single Tribes & Angels. However, we cannot assure you that management's expectations, beliefs and projections will result or be achieved. Get the latest Warner Music Group Corp. (WMG) stock news and headlines to help you in your trading and investment decisions. (c)Reflects severance costs and other restructuring related expenses. Warner Chappell Music, the global music publishing company of WMG, is home to an extraordinary catalog that includes timeless standards and contemporary hits, representing works by over 65,000 songwriters and composers, with a collection of more than one million copyrights. Superstar Ace releases his second single with Warner Music South Africa called ‘Superman’. In addition, you may automatically receive email alerts and other information about Warner Music Group by enrolling your email address through the “email alerts” section at http://investors.wmg.com. This is Warner Music Group's Official Store featuring the largest selection of Warner Music Group music and hand-picked merch. Warner Music Workplace Office Press Kit from A' Design Award & Competition. Warner Music Group Corp. - Reconciliation of Reported to Adjusted Results, Three Months Ended December 31, 2020 versus December 31, 2019(dollars in millions) For the Three Months Ended December 31, 2020 Total WMG Operating Income Recorded Music Operating Income Music Publishing Operating Income Total WMG OIBDA Recorded Music OIBDA Music Publishing OIBDA Net Income (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited)Reported Results$196 $223 $18 $267 $269 $39 $99 Factors Affecting Comparability: Restructuring and Other Transformation Related Costs8 — 1 8 — 1 8 COVID-19 Related Costs1 1 — 1 1 — 1 Non-Cash Stock-Based Compensation6 5 — 6 5 — 6 Adjusted Results$211 $229 $19 $282 $275 $40 $114 Adjusted Margin15.8 % 19.7 % 10.9% 21.1 % 23.7 % 22.9% For the Three Months Ended December 31, 2019 Total WMG Operating Income Recorded Music Operating Income Music Publishing Operating Income Total WMG OIBDA Recorded Music OIBDA Music Publishing OIBDA Net Income (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited)Reported Results$165 $191 $14 $236 $241 $33 $122 Factors Affecting Comparability: Restructuring and Other Transformation Related Costs11 — 1 11 — 1 11 Non-Cash Stock-Based Compensation(7) (3) — (7) (3) — (7) Adjusted Results$169 $188 $15 $240 $238 $34 $126 Adjusted Margin13.5 % 17.3 % 8.7% 19.1 % 22.0 % 19.7% Constant Currency Because exchange rates are an important factor in understanding period-to-period comparisons, we believe the presentation of revenue on a constant-currency basis in addition to reported revenue helps improve the ability to understand our operating results and evaluate our performance in comparison to prior periods. Careers. We bring people, technology, and the world’s best storytellers together to drive culture and meaningful connection. It is useful for investors to know whether this ability is being enhanced or degraded as a result of our operating performance. For the twelve months ended December 30, 2019, reflects a net loss incurred on the early extinguishment of our debt incurred as part of the May 2019 redemption of the remaining 5.625% Secured Notes. Get the latest Warner Music Group Corp. (WMG) stock news and headlines to help you in your trading and investment decisions. Warner Chappell Music, the global publishing arm of Warner Music Group, has entered into a dynamic publishing partnership with the hit-making record label, Love Renaissance (LVRN). OIBDA was $267 million, an increase from $236 million in the prior-year quarter and OIBDA margin increased 1.2 percentage points to 20.0% from 18.8% in the prior-year quarter. Warner Music Group’s website and the information posted on it or connected to it shall not be deemed to be incorporated by reference into this communication. Adjusted EBITDA is a key measure used by our management to understand and evaluate our operating performance, generate future operating plans and make strategic decisions regarding the allocation of capital. This is Warner Music Group's Official Store featuring the largest selection of Warner Music Group music and hand-picked merch. Music Publishing OIBDA increased 18.2% to $39 million, and Music Publishing OIBDA margin increased 3.2 percentage points to 22.3%, due to revenue mix. Artists. Adjusted EBITDA excludes these items and includes expected savings resulting from transformation initiatives and the pro forma impact of specified transactions that closed in the current quarter. Increased Revenue Contribution from Emerging Platforms,... Warner Chappell Music, the global publishing arm of Warner Music Group, today named David Woirhaye as the company’s new EVP and Global CFO, effectively immediately. In addition, Free Cash Flow does not necessarily represent funds available for discretionary use and is not necessarily a measure of our ability to fund our cash needs. Because Free Cash Flow is not a measure of performance calculated in accordance with U.S. GAAP, Free Cash Flow should not be considered in isolation of, or as a substitute for, net income (loss) as an indicator of operating performance or cash flow provided by operating activities as a measure of liquidity. We’ll continue to work with more labels to upgrade the digital quality of even more audio recordings, and provide customers with all of the emotion, power, clarity, and nuance of original recordings across all genres.” Warner Music South Africa proudly presents Locnville’s latest offering. The forward-looking statements contained herein involve risks and uncertainties that could cause actual results to differ materially from those referred to in the forward-looking statements. Adjusted OIBDA was $275 million versus $238 million in the prior-year quarter with Adjusted OIBDA margin up 1.7 percentage points to 23.7%. Digital revenue grew 16.9% (or 15.5% in constant currency), and represented 61.8% of total revenue, compared to 56.2% in the prior-year quarter. Adjusted OIBDA increased 17.5% from $240 million to $282 million and Adjusted OIBDA margin increased 2.0 percentage points to 21.1% from 19.1% due to margin improvement associated with a shift to higher-margin streaming revenue, cost-management efforts and the pro forma impact of specified transactions that closed in the current quarter. Operating margin was 10.3%, up 2.2 percentage points from 8.1% in the prior-year quarter. (f)Reflects transaction costs, including qualifying IPO costs of $76 million for the twelve months ended December 31, 2020. For the twelve months ended December 31, 2020, amounts include a one-time fee of $13 million related to termination of the management agreement with Access. Warner Music Group (NASDAQ:WMG) is up 1.1% in the aftermath of its fiscal first-quarter earnings, which featured a fairly easy beat of revenue expectations. Accordingly, Adjusted EBITDA should be considered in addition to, not as a substitute for, net income (loss) and other measures of financial performance reported in accordance with U.S. GAAP. Warner Music (NASDAQ:WMG): Q1 GAAP EPS of $0.18 misses by $0.01.Revenue of $1.35B (+7.1% Y/Y) beats by $90M.Press Release Signup error! Warner Music has partnered with Ziiki Media, a music aggregator, distributor and production house that is rapidly expanding its presence in the Indian market. Warner Music Group Corp. - Revenue by Geography and Segment, Three and Twelve Months Ended September 30, 2020 versus September 30, 2019 As Reported and Constant Currency (dollars in … warner music nashville signs emerging country artist drew parker February 2, 2021 COUNTRY GROUP TEMECULA ROAD SET TO MAKE TV PERFORMANCE DEBUT ON ABC’S THE BACHELOR WITH “EVERYTHING I LOVE” Warner Music International, a leading company in national and international repertoire operates through numerous international affiliates and licensees in more than 50 countries. "Despite the impact of COVID, we generated the highest quarterly revenue in our 17-year history as a standalone company, growing 4% compared to the prior-year period, which was unaffected by COVID," said Steve Cooper, CEO, Warner Music Group. Bei warnermusic.de gibt's alle Infos & … We use Adjusted operating income (loss), Adjusted OIBDA and Adjusted net income (loss) to evaluate our actual operating performance. NEW YORK, Feb. 11, 2021 (GLOBE NEWSWIRE) -- Warner Music Group Corp. (“Warner Music Group” or “WMG”) today announced that its Board of Directors declared a regular quarterly cash dividend of $0.12 per share on WMG’s Class A Common Stock and Class B Common Stock, representing an aggregate quarterly dividend of approximately $61.7 million (based on the issued and outstanding … However, a limitation of the use of OIBDA as a performance measure is that it does not reflect the periodic costs of certain capitalized tangible and intangible assets used in generating revenue in our businesses. 2KBABY 99 Neighbors Acapop! Von Seeed bis Ed Sheeran, von Green Day bis Linkin Park, von Biffy Clyro bis James Blunt fühlen sich hier alle gut aufgehoben. Warner Music Group is a music company with the interests of recording and publishing music and artist services. SoundExchange: 08/12/2020 - 10:00 : Warner Music Group Corp. Notes Offering Davis Polk advised the joint book-running managers and the initial purchasers in a Rule 144A/Regulation S offering of $550 million principal amount of 3.000% senior secured notes due 2031 of WMG Acquisition Corp., a subsidiary of Warner Music Group Corp. In addition, Adjusted EBITDA is not the same as net income or cash flow provided by operating activities as those terms are defined by U.S. GAAP and does not necessarily indicate whether cash flows will be sufficient to fund cash needs. Music Publishing operating income was $18 million, up 28.6% from $14 million in the prior-year quarter largely driven by revenue mix, partially offset by increases in amortization. Please contact administrator. Free templates to help with the content on your bulletin. At the core of WMG's Recorded Music division are four of the most iconic companies in history: Atlantic, Elektra, Parlophone and Warner Records. Warner Music Group Corp. (WMG) is an American multinational entertainment and record label conglomerate headquartered in New York City.It is one of the "big three" recording companies and the third-largest in the global music industry, after Universal Music Group (UMG) and Sony Music Entertainment (SME).Formerly part of Time Warner (now WarnerMedia), WMG was publicly traded on … Adjusted OIBDA increased 17.6% to $40 million and Adjusted OIBDA margin increased to 22.9% due to the same factors affecting OIBDA. Recorded Music Revenue(dollars in millions) For the Three Months Ended December 31, 2020 For the Three Months Ended December 31, 2019 For the Three Months Ended December 31, 2019 As reported As reported Constant (unaudited) (unaudited) (unaudited)Revenue by Segment: Recorded Music Digital$727 $633 $641 Physical174 184 191 Total Digital and Physical901 817 832 Artist services and expanded-rights180 188 198 Licensing80 79 81 Total Recorded Music$1,161 $1,084 $1,111 Recorded Music revenue was up 7.1% (or up 4.5% in constant currency). We use results on a constant-currency basis as one measure to evaluate our performance. Von Seeed bis Ed Sheeran, von Green Day bis Linkin Park, von Biffy Clyro bis James Blunt fühlen sich hier alle gut aufgehoben. The increases in Adjusted OIBDA and Adjusted OIBDA margin were primarily due to overall cost savings, revenue mix and impact from specified transactions that closed in the current quarter. For /. Figure 1. Figure 8. NEW YORK, Feb. 11, 2021 (GLOBE NEWSWIRE) -- Warner Music Group Corp. (“Warner Music Group” or “WMG”) today announced that its Board of Directors declared a regular quarterly cash dividend of $0.12 per share on WMG’s Class A Common Stock and Class B Common Stock, representing an aggregate quarterly dividend of approximately $61.7 million (based on the issued and outstanding shares of Class A Common Stock and Class B Common Stock). KIDS Adam Melchor Adam Sandler Ali Gatie Amy Allen Warner Music Group Corp. - Consolidated Balance Sheets at December 31, 2020 versus September 30, 2020(dollars in millions) December 31, 2020 September 30, 2020 % Change (unaudited) Assets Current assets: Cash and equivalents$566 $553 2%Accounts receivable, net884 771 15%Inventories71 79 -10%Royalty advances expected to be recouped within one year246 220 12%Prepaid and other current assets61 55 11%Total current assets$1,828 $1,678 9 %Royalty advances expected to be recouped after one year307 269 14%Property, plant and equipment, net334 331 1%Operating lease right-of-use assets, net275 273 1%Goodwill1,851 1,831 1%Intangible assets subject to amortization, net1,968 1,653 19%Intangible assets not subject to amortization156 154 1%Deferred tax assets, net62 68 -9%Other assets162 153 6%Total assets$6,943 $6,410 8%Liabilities and Equity (Deficit) Current liabilities: Accounts payable$214 $264 -19%Accrued royalties1,722 1,628 6%Accrued liabilities414 382 8%Accrued interest36 30 20%Operating lease liabilities, current41 39 5%Deferred revenue326 297 10%Other current liabilities137 80 71%Total current liabilities$2,890 $2,720 6 %Long-term debt3,387 3,104 9%Operating lease liabilities, noncurrent298 299 —%Deferred tax liabilities, net166 163 2%Other noncurrent liabilities169 169 —%Total liabilities$6,910 $6,455 7%Deficit: Class A common stock$— $— —%Class B common stock1 1 —%Additional paid-in capital1,913 1,907 —%Accumulated deficit(1,713) (1,749) -2%Accumulated other comprehensive loss, net(185) (222) -17%Total Warner Music Group Corp. equity (deficit)$16 $(63) —%Noncontrolling interest17 18 -6%Total equity (deficit)33 (45) —%Total liabilities and equity (deficit)$6,943 $6,410 8% Figure 3.
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