Warners' revenues up in Q3 - but losses up too

Warner Music Group's total revenues for the third quarter of its financial year ending on 30 Jun were up 18.9% on the previous year. And for recorded music the increase was 22.8%. But net losses were up by 196.8% year-on-year.  CEO Stephen Cooper SAID: "A stronger release schedule, combined with sustained investment in exceptional artistic talent and first-class execution by our operators, delivered robust results this quarter. We are especially pleased to see our strategic moves pay off, with the acquisition of Parlophone Label Group being a key contributor to this quarter's success. We expect our momentum to continue through the remainder of the fiscal year, due to several exciting artist releases in the coming months". Overall, digital income across the group now represents 41.1% of revenues. On the recordings side, digital accounts for 45.6% of total revenues, while in publishing it's 19.7%, thanks in part to a 22.7% increase in revenue from streaming services.