Warner Music Group has issued preliminary figures estimating revenues of between $4.435 billion (£3.43bn) to $4.485bn (£3.47bn) in 2020.
The figures on consolidated revenue for the fiscal year ending September 30, 2020 are flat compared to the prior year’s results of $4.475bn (£3.46bn).
During its previous quarterly results, the major revealed the impact of Covid-19 on revenues.
For the fiscal year, WMG expects recorded music revenue (prior to intersegment eliminations) to be in the range of $3.795bn (£2.93bn) to $3.825bn (£2.96bn), compared to $3.84bn (£2.97bn) for the fiscal year ended September 30, 2019.
Music publishing revenue is expected to edge up slightly to between $645m (£498.7m) and $665m (£514.2m), compared to $643m (£497.1m) for the fiscal year ended September 30, 2019.
Streaming has continued its growth, though preliminary figures suggest the increase will be well down on the 23% year-on-year increase for recorded music streaming revenue in 2019.
Recorded music streaming revenue is estimated to have been in the range of approximately $2.39bn (£1.85bn) to $2.41bn (£1.86bn), compared to $2.129bn (£1.65bn) for the fiscal year. At the top end of the preliminary figures, that would be year-on-year growth of 13.2%.
Growth in recorded music streaming revenue is expected to be offset by decreases in physical and artist services.
Music publishing digital revenue is estimated to have been in a range of approximately $330m (£255.1m) to $340m (£262.8m), compared to $271m (£209.5m) for the prior year (a year-on-year increase of between 21.8% and 25.5%).
OIBDA is estimated to have been in a range of approximately $20m (£15.5m) to $40m (£30.9m), compared to $625m (£483.1m) in the previous year. The decrease is primarily attributable to one-time charges incurred through the WMG IPO in June.
The major has announced it has raised $250 million (£192.2m) in debt to fund further acquisitions.
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