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Revenue Recognition
 9 Months Ended
Jun. 30, 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
June 30,		Nine Months Ended
June 30,
2023202220232022
(in millions)
Revenue by Type
Digital$846 $801 $2,445 $2,475 
Physical126 123 377 440 
Total Digital and Physical972 924 2,822 2,915 
Artist services and expanded-rights218 190 555 563 
Licensing92 75 287 244 
Total Recorded Music1,282 1,189 3,664 3,722 
Performance40 45 130 119 
Digital182 144 477 404 
Mechanical16 10 46 37 
Synchronization41 41 126 133 
Other4 5 11 11 
Total Music Publishing283 245 790 704 
Intersegment eliminations(1)(2)(3)(4)
Total Revenues$1,564 $1,432 $4,451 $4,422 
Revenue by Geographical Location
U.S. Recorded Music$557 $515 $1,618 $1,641 
U.S. Music Publishing147 137 415 369 
Total U.S.704 652 2,033 2,010 
International Recorded Music725 674 2,046 2,081 
International Music Publishing136 108 375 335 
Total International861 782 2,421 2,416 
Intersegment eliminations(1)(2)(3)(4)
Total Revenues$1,564 $1,432 $4,451 $4,422 
Sales Returns and Uncollectible Accounts
Based on management’s analysis of sales returns, refund liabilities of $22 million and $19 million were established at June 30, 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 June 30, 2023 and September 30, 2022, respectively.
Deferred Revenue
Deferred revenue increased by $323 million during the nine months ended June 30, 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 $350 million were recognized during the nine months ended June 30, 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 nine months ended June 30, 2023 and June 30, 2022, the Company recognized revenue of $68 million and $55 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 June 30, 2023 are as follows:
Rest of FY23FY24FY25ThereafterTotal
(in millions)
Remaining performance obligations$156 $457 $11 $2 $626 
Total$156 $457 $11 $2 $626