Exhibit 12.1

Warner Music Group Corp.

(Formerly known as WMG Parent Corp.)

Computation of Ratio of Earnings to Fixed Charges

(Unaudited)

|  | Historical |  | Pro Forma
|  | Predecessor |  |  | Successor |  | Twelve Months Ended September 30, 2004 (1) |  |  | Six Months Ended March 31, 2005 (1)
|  | Fiscal Years Ended November 30, |  |  | Ten Months Ended September 30, 2003 |  |  | Three Months Ended February 29, 2004 |  |  | Five Months Ended February 29, 2004 |  |  | One Month Ended March 31, 2004 |  |  | Seven Months Ended September 30, 2004 |  |  | Six Months Ended March 31, 2005 |  |
|  | 2000 |  |  | 2001 |  |  | 2002 |  |  | 2003 |  |  |  |  |  |  |  |  |
|  | (unaudited) |  |  | (unaudited) |  |  | (audited) |  |  | (audited) |  |  | (unaudited) |  |  | (audited) |  |  | (unaudited) |  |  | (unaudited) |  |  | (audited) |  |  | (unaudited) |  | (unaudited) |  |  | (unaudited)
|  | (in millions)
(Loss) Income before income taxes (1) |  | $ | (365 | ) |  | $ | (1,066 | ) |  | $ | (1,570 | ) |  | $ | (1,317 | ) |  | $ | (268 | ) |  | $ | (15 | ) |  | $ | (1,064 | ) |  | $ | (11 | ) |  | $ | (74 | ) |  | $ | 82 |  | $ | (1,176 | ) |  | $ | 77
Add: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed charges |  |  | 74 |  |  |  | 89 |  |  |  | 78 |  |  |  | 65 |  |  |  | 50 |  |  |  | 8 |  |  |  | 9 |  |  |  | 14 |  |  |  | 99 |  |  |  | 105 |  |  | 166 |  |  |  | 93
Income as adjusted before income taxes |  | $ | (291 | ) |  | $ | (977 | ) |  | $ | (1,492 | ) |  | $ | (1,252 | ) |  | $ | (218 | ) |  | $ | (7 | ) |  | $ | (1,055 | ) |  | $ | 3 |  |  | $ | 25 |  |  | $ | 187 |  | $ | (1,010 | ) |  | $ | 170
Fixed charges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | 56 |  |  |  | 71 |  |  |  | 59 |  |  |  | 47 |  |  |  | 36 |  |  |  | 4 |  |  |  | 2 |  |  |  | 10 |  |  |  | 91 |  |  |  | 90 |  |  | 150 |  |  |  | 83
Portion of rental expense representative of interest (2) |  |  | 18 |  |  |  | 18 |  |  |  | 19 |  |  |  | 18 |  |  |  | 14 |  |  |  | 4 |  |  |  | 7 |  |  |  | 1 |  |  |  | 8 |  |  |  | 10 |  |  | 16 |  |  |  | 10
Preferred stock dividend requirements of consolidated subsidiaries (1) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3 |  |  |  | — |  |  |  | 5 |  |  | — |  |  |  | —
Total fixed charges |  |  | 74 |  |  |  | 89 |  |  |  | 78 |  |  |  | 65 |  |  |  | 50 |  |  |  | 8 |  |  |  | 9 |  |  |  | 14 |  |  |  | 99 |  |  |  | 105 |  |  | 166 |  |  |  | 93
Deficiency in earnings over fixed charges |  | $ | (365 | ) |  | $ | (1,066 | ) |  | $ | (1,570 | ) |  | $ | (1,317 | ) |  | $ | (268 | ) |  | $ | (15 | ) |  | $ | (1,064 | ) |  | $ | (8 | ) |  | $ | (74 | ) |  |  | N/A |  | $ | (1,176 | ) |  |  | N/A
Ratio of earnings to fixed charges |  |  | N/A |  |  |  | N/A |  |  |  | N/A |  |  |  | N/A |  |  |  | N/A |  |  |  | N/A |  |  |  | N/A |  |  |  | N/A |  |  |  | N/A |  |  |  | 1.78 |  |  | N/A |  |  |  | 1.83

(1) | The preferred stock dividend requirements of Holdings, a consolidated subsidiary, is included in fixed charges (i.e., the denominator of the ratio calculation) but excluded from the numerator of the ratio calculation because such amount was not deducted in arriving at Warner Music Group Corp.’s pre-tax income (loss) from continuing operations as defined. If Holdings did not incur fixed charges, the minority interest in pre-tax income of Holdings would be subtracted in determining earnings.

(2) | Estimated at 1/3 of total rent expense.

1