Warner Music Group announced on July 31 that Armin Zerza had left his dual role as Chief Financial Officer and Chief Operating Officer, effective immediately, with the company citing personal reasons. The exit landed roughly two months after WMG expanded Zerza's remit, adding the COO title on top of his CFO duties. Lou Dickler stepped up to acting CFO, while Tom Corson — previously at Warner Records, the label arm of the group — was promoted to COO of Warner Music Group itself. Music Business Worldwide

WMG also moved its quarterly earnings call forward by one day to Wednesday, August 5, from the previously scheduled August 6. A press release published on August 3 confirmed the new date.

The preliminary financial filing that accompanied the announcement tells a story at odds with any suggestion of a downturn. For the three months ended June 30, 2026 — the company's fiscal third quarter, aligning with calendar Q2 — total revenues rose 9% year-over-year at constant currency (a measure that strips out exchange-rate swings) to approximately $1.86 billion. Recorded Music revenues climbed 9% to roughly $1.49 billion, and Warner Chappell Music, the group's publishing arm, grew 11% to about $377 million.

Streaming carried the quarter. Recorded music streaming revenue reached approximately $1.001 billion, up 10% at constant currency from $895 million in the same period a year earlier. Within that total, subscription revenue — the money generated by paid services like Spotify Premium and Apple Music — grew 11%, while ad-supported revenue (the free, advertising-funded tiers of those platforms) grew 8%. WMG did not break out dollar figures for its subscription and ad-supported lines individually, nor for artist services, licensing and physical revenue, in this preliminary filing.

For context, WMG's recorded music revenues for the three months ended June 30, 2025 stood at $1,354 million, up 8% from $1,251 million the year before, according to the company's SEC filings. The prior quarter — the three months ended March 31, 2025 — had seen a slight 1% decline to $1,175 million.

The leadership reshuffle comes during a busy summer for the group. On July 16, WMG and NetEase Cloud Music announced a multi-year licensing renewal for the Chinese market. Four days later, on July 20, Sureel AI and Symphonic Distribution unveiled a partnership aimed at unlocking AI licensing revenue for Symphonic's independent roster — a signal of how the major's distribution ecosystem is engaging with the AI-licensing conversation. Earlier in July, WMG expanded its ADA distribution arm in EMEA, appointing Howard Corner to the newly created role of Head of ADA, EMEA.

What stands out is the timing. A CFO departure announced on the same day as a preliminary filing showing solid double-digit streaming growth is unusual — departures and disappointing numbers typically travel together. Here, the numbers and the exit arrived in the same envelope, and the company attributed one to personal reasons while the other told a growth story. The August 5 earnings call, now a day earlier than planned, will be the first chance for analysts to put questions to the new-acting finance leadership directly.