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Revenue Recognition
 6 Months Ended
Mar. 31, 2023
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
Disaggregation of Revenue
The Company’s revenue consists of the following categories, which aggregate into the segments – Recorded Music and Music Publishing:
Three Months Ended
March 31,		Six Months Ended
March 31,
2023202220232022
(in millions)
Revenue by Type
Digital$796 $804 $1,599 $1,674 
Physical118 122 251 317 
Total Digital and Physical914 926 1,850 1,991 
Artist services and expanded-rights131 141 337 373 
Licensing98 80 195 169 
Total Recorded Music1,143 1,147 2,382 2,533 
Performance45 36 90 74 
Digital146 127 295 260 
Mechanical16 13 30 27 
Synchronization46 50 85 92 
Other4 4 7 6 
Total Music Publishing257 230 507 459 
Intersegment eliminations(1)(1)(2)(2)
Total Revenues$1,399 $1,376 $2,887 $2,990 
Revenue by Geographical Location
U.S. Recorded Music$522 $518 $1,061 $1,126 
U.S. Music Publishing135 117 268 232 
Total U.S.657 635 1,329 1,358 
International Recorded Music621 629 1,321 1,407 
International Music Publishing122 113 239 227 
Total International743 742 1,560 1,634 
Intersegment eliminations(1)(1)(2)(2)
Total Revenues$1,399 $1,376 $2,887 $2,990 
Sales Returns and Uncollectible Accounts
Based on management’s analysis of sales returns, refund liabilities of $21 million and $19 million were established at March 31, 2023 and September 30, 2022, respectively.
Based on management’s analysis of estimated credit losses, reserves of $19 million and $19 million were established at March 31, 2023 and September 30, 2022, respectively.
Deferred Revenue
Deferred revenue increased by $225 million during the six months ended March 31, 2023 related to cash received from customers for fixed fees and minimum guarantees in advance of performance, including amounts recognized in the period. Revenues of $248 million were recognized during the six months ended March 31, 2023 related to the balance of deferred revenue at September 30, 2022. There were no other significant changes to deferred revenue during the reporting period.
Performance Obligations
For the six months ended March 31, 2023 and March 31, 2022, the Company recognized revenue of $41 million and $43 million, respectively, from performance obligations satisfied in previous periods.
Revenues expected to be recognized in the future related to performance obligations that are unsatisfied at March 31, 2023 are as follows:
Rest of FY23FY24FY25ThereafterTotal
(in millions)
Remaining performance obligations$350 $450 $6 $2 $808 
Total$350 $450 $6 $2 $808