Warner Music Group Corp. (WMG, Financial) filed Quarterly Report for the period ended 2011-12-31.
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Total digital revenues after intersegment eliminations increased by $32 million, or 17%, to $219 million for the three months ended December 31, 2011 from $187 million for the three months ended December 31, 2010. Total digital revenues represented 28% and 24% of consolidated revenues for the three months ended December 31, 2011 and December 31, 2010, respectively. Prior to intersegment eliminations, total digital revenues for the three months ended December 31, 2011 were comprised of U.S. revenues of $122 million and international revenues of $98 million, or 55% and 45% of total digital revenues, respectively. Prior to intersegment eliminations, total digital revenues for the three months ended December 31, 2010 were comprised of U.S. revenues of $102 million and international revenues of $87 million, or 54% and 46% of total digital revenues, respectively.
Recorded Music revenues decreased by $1 million to $661 million for the three months ended December 31, 2011 from $662 million for the three months ended December 31, 2010. Prior to intersegment eliminations, Recorded Music revenues represented 84% and 85% of consolidated revenues, for the three months ended December 31, 2011 and December 31, 2010, respectively. U.S. Recorded Music revenues were $258 million and $249 million, or 39% and 38% of consolidated Recorded Music revenues for the three months ended December 31, 2011 and December 31, 2010, respectively. International Recorded Music revenues were $403 million and $413 million, or 61% and 62% of consolidated Recorded Music revenues for the three months ended December 31, 2011 and December 31, 2010, respectively.
Recorded Music revenues decreased by $1 million to $661 million for the three months ended December 31, 2011 from $662 million for the three months ended December 31, 2010. Prior to intersegment eliminations, Recorded Music revenues represented 84% and 85% of consolidated revenues, for the three months ended December 31, 2011 and December 31, 2010, respectively. U.S. Recorded Music revenues were $258 million and $249 million, or 39% and 38% of consolidated Recorded Music revenues for the three months ended December 31, 2011 and December 31, 2010, respectively. International Recorded Music revenues were $403 million and $413 million, or 61% and 62% of consolidated Recorded Music revenues for the three months ended December 31, 2011 and December 31, 2010, respectively. This performance reflected a strong holiday release schedule which included the second-largest-selling album of calendar 2011 in the U.S. according to SoundScan, Michael Bublés Christmas. The success of this release helped offset the ongoing impact of the transition from physical to digital sales. Digital revenues increased by $27 million, or 15%, for the three months ended December, 2011, driven by growth of digital downloads from emerging digital markets in Latin America and certain European territories and the continued success of streaming services, partially offset by the continued decline in global mobile revenue primarily related to lower ringtone demand. These increases were offset by declines in our European concert promotion business which reflected the timing and composition of touring schedules in the current period as compared with the prior-year quarter. In addition, licensing revenues decreased $5 million, or 8%, to $57 million for the three months ended December 31, 2011, due primarily to timing. Excluding the favorable impact of foreign currency exchange rates, total revenues decreased by $5 million, or 1%.
Music Publishing revenues increased by $3 million, or 3%, to $123 million for the three months ended December 31, 2011 from $120 million for the three months ended December 31, 2010. Prior to intersegment eliminations, Music Publishing revenues represented 16% and 15% of consolidated revenues, for the three months ended December 31, 2011 and December 31, 2010, respectively. U.S. Music Publishing revenues were $41 million and $39 million, or 33% of Music Publishing revenues for the three months ended December 31, 2011 and December 31, 2010, respectively. International Music Publishing revenues were $82 million and $81 million, or 67% of Music Publishing revenues for the three months ended December 31, 2011 and December 31, 2010, respectively.
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Highlight of Business Operations:
Total revenues increased by $1 million to $779 million for the three months ended December 31, 2011 from $778 million for the three months ended December 31, 2010. Prior to intersegment eliminations, Recorded Music and Music Publishing revenues represented 84% and 16% of total revenues for the three months ended December 31, 2011, respectively, compared to 85% and 15% for the three months ended December 31, 2010, respectively. Prior to intersegment eliminations, U.S. and international revenues represented 38% and 62% of total revenues for the three months ended December 31, 2011 and 37% and 63% of total revenues for the three months ended December 31, 2010, respectively. Excluding the favorable impact of foreign currency exchange rates, total revenues decreased $4 million, or 1%.Total digital revenues after intersegment eliminations increased by $32 million, or 17%, to $219 million for the three months ended December 31, 2011 from $187 million for the three months ended December 31, 2010. Total digital revenues represented 28% and 24% of consolidated revenues for the three months ended December 31, 2011 and December 31, 2010, respectively. Prior to intersegment eliminations, total digital revenues for the three months ended December 31, 2011 were comprised of U.S. revenues of $122 million and international revenues of $98 million, or 55% and 45% of total digital revenues, respectively. Prior to intersegment eliminations, total digital revenues for the three months ended December 31, 2010 were comprised of U.S. revenues of $102 million and international revenues of $87 million, or 54% and 46% of total digital revenues, respectively.
Recorded Music revenues decreased by $1 million to $661 million for the three months ended December 31, 2011 from $662 million for the three months ended December 31, 2010. Prior to intersegment eliminations, Recorded Music revenues represented 84% and 85% of consolidated revenues, for the three months ended December 31, 2011 and December 31, 2010, respectively. U.S. Recorded Music revenues were $258 million and $249 million, or 39% and 38% of consolidated Recorded Music revenues for the three months ended December 31, 2011 and December 31, 2010, respectively. International Recorded Music revenues were $403 million and $413 million, or 61% and 62% of consolidated Recorded Music revenues for the three months ended December 31, 2011 and December 31, 2010, respectively.
Recorded Music revenues decreased by $1 million to $661 million for the three months ended December 31, 2011 from $662 million for the three months ended December 31, 2010. Prior to intersegment eliminations, Recorded Music revenues represented 84% and 85% of consolidated revenues, for the three months ended December 31, 2011 and December 31, 2010, respectively. U.S. Recorded Music revenues were $258 million and $249 million, or 39% and 38% of consolidated Recorded Music revenues for the three months ended December 31, 2011 and December 31, 2010, respectively. International Recorded Music revenues were $403 million and $413 million, or 61% and 62% of consolidated Recorded Music revenues for the three months ended December 31, 2011 and December 31, 2010, respectively. This performance reflected a strong holiday release schedule which included the second-largest-selling album of calendar 2011 in the U.S. according to SoundScan, Michael Bublés Christmas. The success of this release helped offset the ongoing impact of the transition from physical to digital sales. Digital revenues increased by $27 million, or 15%, for the three months ended December, 2011, driven by growth of digital downloads from emerging digital markets in Latin America and certain European territories and the continued success of streaming services, partially offset by the continued decline in global mobile revenue primarily related to lower ringtone demand. These increases were offset by declines in our European concert promotion business which reflected the timing and composition of touring schedules in the current period as compared with the prior-year quarter. In addition, licensing revenues decreased $5 million, or 8%, to $57 million for the three months ended December 31, 2011, due primarily to timing. Excluding the favorable impact of foreign currency exchange rates, total revenues decreased by $5 million, or 1%.
Music Publishing revenues increased by $3 million, or 3%, to $123 million for the three months ended December 31, 2011 from $120 million for the three months ended December 31, 2010. Prior to intersegment eliminations, Music Publishing revenues represented 16% and 15% of consolidated revenues, for the three months ended December 31, 2011 and December 31, 2010, respectively. U.S. Music Publishing revenues were $41 million and $39 million, or 33% of Music Publishing revenues for the three months ended December 31, 2011 and December 31, 2010, respectively. International Music Publishing revenues were $82 million and $81 million, or 67% of Music Publishing revenues for the three months ended December 31, 2011 and December 31, 2010, respectively.
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