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SEGMENT REPORTING (Tables) | 9 Months Ended
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Dec. 31, 2025
SEGMENT REPORTING |
Schedule of total revenue and reconciliation of OIBDA to operating income by segment | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended December 31, 2025
​ | ​ | Music | ​ | Recorded | ​ | ​ | ​
​ | ​ ​ ​ | Publishing | ​ ​ ​ | Music | ​ ​ ​ | Total
Reportable segment revenue | ​ | $ | 30,121,545 | ​ | $ | 12,872,579 | ​ | $ | 42,994,124
Other revenue(a) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 2,573,755
Consolidated revenue | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 45,567,879
Significant segment expenses: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Cost of revenue | ​ | ​ | 12,617,169 | ​ |  | 3,580,783 | ​ | ​ | ​
Administration expenses | ​ |  | 6,462,419 | ​ |  | 2,565,140 | ​ |  | ​
Reportable segment OIBDA | ​ | $ | 11,041,957 | ​ | $ | 6,726,656 | ​ | ​ | 17,768,613
Other profit(a) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 348,123
Amortization and depreciation | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (7,789,274)
Interest expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (6,584,013)
Loss on foreign exchange | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (88,508)
Loss on fair value of swaps | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (270,380)
Other expense, net | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (103,113)
Income before income taxes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 3,281,448
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Three Months Ended December 31, 2024
​ | ​ | Music | ​ ​ ​ | Recorded | ​ ​ ​ | ​ | ​
​ | ​ ​ ​ | Publishing | ​ | Music | ​ | Total
Reportable segment revenue | ​ | $ | 26,893,103 | ​ | $ | 11,964,335 | ​ | $ | 38,857,438
Other revenue(a) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 3,446,278
Consolidated revenue | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 42,303,716
Significant segment expenses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cost of revenue | ​ |  | 11,730,732 | ​ |  | 3,337,310 | ​ |  | ​
Administration expenses | ​ |  | 6,014,390 | ​ |  | 2,229,256 | ​ |  | ​
Reportable segment OIBDA | ​ | $ | 9,147,981 | ​ | $ | 6,397,769 | ​ | ​ | 15,545,750
Other profit(a) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 725,828
Amortization and depreciation | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (6,713,621)
Interest expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (5,776,861)
Loss on foreign exchange | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (76,431)
Gain on fair value of swaps | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 3,084,761
Other income, net | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 509,263
Income before income taxes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 7,298,689
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nine Months Ended December 31, 2025
​ | ​ | Music | ​ | Recorded | ​ | ​ | ​
​ | ​ ​ ​ | Publishing | ​ ​ ​ | Music | ​ ​ ​ | Total
Reportable segment revenue | ​ | $ | 85,929,949 | ​ | $ | 36,299,078 | ​ | $ | 122,229,027
Other revenue(a) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 5,938,196
Consolidated revenue | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 128,167,223
Significant segment expenses: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Cost of revenue | ​ | ​ | 36,100,572 | ​ |  | 9,822,300 | ​ | ​ | ​
Administration expenses | ​ |  | 19,906,949 | ​ |  | 8,300,175 | ​ |  | ​
Reportable segment OIBDA | ​ | $ | 29,922,428 | ​ | $ | 18,176,603 | ​ | ​ | 48,099,031
Other profit(a) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 1,021,540
Amortization and depreciation | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (22,659,874)
Interest expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (19,621,628)
Gain on foreign exchange | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 619,896
Loss on fair value of swaps | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (1,583,543)
Other expense, net | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (357,596)
Income before income taxes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 5,517,826
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nine Months Ended December 31, 2024
​ | ​ | Music | ​ | Recorded | ​ | ​ | ​
​ | ​ ​ ​ | Publishing | ​ ​ ​ | Music | ​ ​ ​ | Total
Reportable segment revenue | ​ | $ | 79,489,296 | ​ | $ | 32,287,361 | ​ | $ | 111,776,657
Other revenue(a) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 5,511,295
Consolidated revenue | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 117,287,952
Significant segment expenses: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Cost of revenue | ​ | ​ | 34,148,535 | ​ |  | 9,031,994 | ​ | ​ | ​
Administration expenses | ​ |  | 18,448,702 | ​ |  | 7,001,863 | ​ |  | ​
Reportable segment OIBDA | ​ | $ | 26,892,059 | ​ | $ | 16,253,504 | ​ | ​ | 43,145,563
Other profit(a) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 1,024,350
Amortization and depreciation | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (19,528,397)
Interest expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (15,796,667)
Loss on foreign exchange | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (172,242)
Loss on fair value of swaps | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (2,532,441)
Other income, net | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 410,774
Income before income taxes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 6,550,940
(a) | Other revenue and other profit relate to the Company’s artist management operating segment, which does not meet the quantitative thresholds for determining reportable segments in any period presented.

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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