Warner Music Group’s FY3Q06 earnings report backs up its rep as a music company that “gets” digital. Revenue from online hit $92 million, up 109 percent from $44 million in its third fiscal quarter last year. Perhaps more important, that represents 11 percent of the company’s total revenue and digital accounted for half of the year-over-year gain. Warner continues to have a larger digital presence domestically — 74 percent of digital revenue comes from the U.S. Worldwide, online and mobile revenue are split about 50-50; online is heavier in the U.S., wireless is heavier internationally.
Overall, Warner (WMG) reported narrowed its net loss to $0.10 per share compared to a new loss of $1.41 per share last year. Revenue rose 11 percent to $822 million from $742 million in FY3Q05. The number beat the Street; Thomson First Call analysts estimated a loss of 19 cents on revenues of $785 million.
Listening to earnings call now; more to come.
From the call: A lot of talk about online and mobile.
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