华纳音乐 2026年季度报告

FORM 10-Q (Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period ended March31, 2026OR☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934Commission File Number 001-32502 Warner Music Group Corp.(Exact name of registrant as specified in its charter) 13-4271875(I.R.S. EmployerIdentification No.) Delaware(State or other jurisdiction ofincorporation or organization) 1633 BroadwayNew York, NY 10019(Address of principal executive offices)(212) 275-2000(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities ExchangeAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has beensubject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant wasrequired to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,”and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer☒Non-accelerated filer☐Emerging growth company☐ Accelerated filerSmaller reporting company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act.)Yes☐No☒ As of May4, 2026, there were 146,235,215 shares of Class A Common Stock and 375,380,313 shares of Class B Common Stock of theregistrant outstanding. WARNER MUSIC GROUP CORP.QUARTERLY REPORT ON FORM 10-QFOR THE THREE AND SIXMONTHS ENDED MARCH31, 2026 TABLE OF CONTENTS Part I.Financial InformationItem 1.Financial Statements (Unaudited)1Condensed Consolidated Balance Sheets as of March31, 2026and September 30, 20251Condensed Consolidated Statements of Operations for the Three and Six Months Ended March 31, 2026 andMarch 31, 20252Condensed Consolidated Statements of Comprehensive Income for the Three and Six Months Ended March 31,2026 and March 31, 20253Condensed Consolidated Statements of Cash Flows for the Three and Six Months Ended March 31, 2026 andMarch 31, 20254Condensed Consolidated Statements of Equity for the Three and Six Months Ended March 31, 2026 and March31, 20255Notes to Condensed Consolidated Financial Statements8Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations25Item 3.Quantitative and Qualitative Disclosures About Market Risk57Item 4.Controls and Procedures58Part II.Other InformationItem 1.Legal Proceedings60Item 1A.Risk Factors60Item 2.Unregistered Sales of Equity Securities and Use of Proceeds60Item 3.Defaults Upon Senior Securities60Item 4.Mine Safety Disclosures60Item 5.Other Information61Item 6.Exhibits62Signatures63 PART I. FINANCIAL INFORMATION Warner Music Group Corp.Condensed Consolidated Balance Sheets(In millions, except share amounts which are reflected in thousands)(Unaudited) Warner Music Group Corp.Condensed Consolidated Statements of Operations(In millions, except share amounts which are reflected in thousands, and per share data) (Unaudited) Warner Music Group Corp.Condensed Consolidated Statements of Comprehensive Income(In millions)(Unaudited) Warner Music Group Corp.Condensed Consolidated Statements of Cash Flows(In millions)(Unaudited) Warner Music Group Corp.Condensed Consolidated Statements of Equity(In millions, except share amounts which are reflected in thousands, and per share data) (Unaudited) Warner Music Group Corp. Notes to Condensed Consolidated Financial Statements (Unaudited) 1. Description of Business Warner Music Group Corp. (the “Company”) was formed on November 21, 2003. The Company is the direct parent of WMGHoldings Corp. (“Holdings”), which is the direct parent of WMG Acquisition Corp. (“Acquisition Corp.”). Acquisition Corp. is one ofthe world’s major music entertainment companies. We classify our business interests into two fundamental operations: RecordedMusic and Music Publishing. Recorded Music Operations Our Recorded Music business primarily consists of the discovery and development of recording artists and the relatedmarketing, promotion, distribution, s