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WARNER MUSIC GROUP NEWS RELEASE Warner Music Group Corp. Reports Results for the Second Quarter Ended March 31 , 2021 2021-05-04 Financial Highlights : • Double - Digit Revenue Growth Highlighted by Strength across Recorded Music and Music Publishing • Recorded Music Streaming Revenue Grew 20 % Driven by Chart - Topping New Music • Revenue Attributable to Emerging Streaming Platforms Continues to Show Accelerated Growth • Continued Margin Expansion and High Free Cash Flow Conversion For the three months ended March 31 , 2021 • Total revenue grew 17 % or 13 % in constant currency • Digital revenue grew 23 % or 20 % in constant currency • Net income was $ 117 million versus net loss of $ 74 million in the prior - year quarter • OIBDA increased to $ 228 million versus $ 12 million in the prior - year quarter • Adjusted OIBDA increased 21 % to $ 255 million versus $ 210 million in the prior - year quarter • Adjusted EBITDA increased 25 % to $ 268 million versus $ 214 million in the prior - year quarter NEW YORK , May 04 , 2021 ( GLOBE NEWSWIRE ) -- Warner Music Group Corp. today announced its second - quarter financial results for the period ended March 31 , 2021 . 1