Warner Music Group's revenue climbed 10% to nearly $1.9 billion in its fiscal third quarter, the company confirmed on an earnings call held Wednesday, August 5, 2026 — a result powered almost entirely by streaming, with digital revenue up 11% to about $1.25 billion (Billboard).

CEO Robert Kyncl used the call to lay out three years of aggressive cost reduction. More than $600 million has been cut from the business over that period, money Kyncl said is being reinvested back into the company's roster and operations. The earnings press release, published the same day on Warner's investor relations page, covers the quarter ended June 30, 2026 (WMG Investor Relations).

The quarter's streaming engine was recorded music, where streaming revenue rose 12% year-over-year to just over $1 billion. Kyncl broke that figure down into its component parts: 6 to 7 percentage points came from subscription streaming income — the money listeners pay for paid services like Spotify Premium and Apple Music — 3.5 points from improved licensing deals with digital streaming partners, and about 1 point from expanded global market share.

Chief digital officer Carletta Higgins negotiated updated licensing deals with all of Warner's major streaming partners, most recently Apple. Those renegotiated terms are the single largest non-subscription contributor to the streaming growth figure.

Kyncl also pointed to a 2024 corporate reorganization that brought Elliot Grainge's 10K Projects label under the Atlantic Music Group umbrella as a driver of market-share gains. According to Luminate, the data firm that tracks music consumption, Warner's share of the overall U.S. recorded music market, including catalog, rose by roughly 0.3 percentage points, while its share of music released in the last 18 months grew by about 0.8 points.

The numbers landed alongside a surprise executive departure. CFO and COO Armin Zerza left the company, with Kyncl thanking him for his work on capital allocation, forecasting and investor messaging. Louis Dickler, Warner's chief accounting officer, was named acting CFO. Tom Corson, co-chairman and COO of Warner Records, moves up to COO of Warner Music Group overall.

On the charts, Warner pointed to several current wins. Stella Lefty's song "Boston" reached the top 5 on the Billboard Hot 100, the magazine's flagship singles chart. Shakira and Burna Boy's "Dai Dai (FIFA World Cup Official Song 2026)" became the first World Cup anthem to top both the Billboard Global 200 and the Billboard Global Excl. U.S. charts — a combined measure of worldwide and international-only streaming and sales activity.

Looking ahead, Warner's release schedule for the second half of 2026 includes projects from Alex Warren, sombr, David Guetta, Ravyn Lanae, Myke Towers and Teddy Swims.

The growth trajectory has been consistent across fiscal 2026. Warner posted $1.8 billion in revenue in the first quarter — a 10% year-over-year increase — and saw digital revenue rise 16.7% in the second quarter ended March 31, 2026 (The Hollywood Reporter; WMG).