Warner Music Q1 US Streaming Market Share Grows by 1%
In a letter to stockholders, Warner Music said, "Our momentum is clear. In Q1, we grew our US streaming market share by one percentage point and our market share on Spotify's Top 200 jumped over three percentage points fiscal year-to-date...We're making significant progress as our recently renegotiated DSP deals are shifting the music industry from volume-driven growth to volume and price-driven growth. Since streaming's introduction 18 years ago, the music industry has predominantly grown through rapid subscriber growth, as both passionate and casual fans flocked to music's incredible value proposition....Our reorganization, investments in tech and the successful roll-out of our financial transformation program have enabled us to accelerate growth while cutting costs. We've increased our Adjusted OIBDA margin by 380 basis points over the last five years and since 2022, we've increased revenue per employee by 28% and Adjusted OIBDA per employee by 42%. We expect these metrics to continue to improve in the coming years, along with our effectiveness.:
