Warner Music Group post losses

Warner Music Group post losses

Warner Music Group Corp. has come out with their latest quarterly revenue report and the company has posted a first-quarter loss.

The company suffered due to higher expenses in addition to an impairment charge.

Warner posted losses of $16 million during the period. This is a bad performance when compared to profits of $18 million posted by them in the same period last year.

The revenues were however up 7 percent to $989 million.

Warner Music Group admitted that they continue to struggle to cope up with the pressures from the digital media world.