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Revenue Recognition (Tables)
12 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The Company’s revenue consists of the following categories, which aggregate into the segments – Recorded Music and Music Publishing:
Fiscal Year Ended September 30,
202520242023
(in millions)
Revenue by Type
Digital$3,594 $3,519 $3,322 
Physical527 519 507 
Total digital and physical
4,121 4,038 3,829 
Artist services and expanded-rights835 684 744 
Licensing452 501 382 
Total Recorded Music5,408 5,223 4,955 
Performance228 198 173 
Digital800 763 669 
Mechanical63 58 63 
Synchronization197 175 167 
Other18 16 16 
Total Music Publishing1,306 1,210 1,088 
Intersegment eliminations(7)(7)(6)
Total revenues
$6,707 $6,426 $6,037 
Revenue by geographical location
U.S. Recorded Music$2,181 $2,210 $2,184 
U.S. Music Publishing693 660 582 
Total U.S.2,874 2,870 2,766 
International Recorded Music3,227 3,013 2,771 
International Music Publishing613 550 506 
Total international
3,840 3,563 3,277 
Intersegment eliminations(7)(7)(6)
Total revenues
$6,707 $6,426 $6,037 
Schedule of Revenues Expected to be Recognized in Future Related to Performance Obligations Revenues expected to be recognized in the future related to performance obligations that are unsatisfied at September 30, 2025 are as follows:
FY26
FY27
FY28
ThereafterTotal
(in millions)
Remaining performance obligations$681 $173 $129 $43 $1,026 
Total$681 $173 $129 $43 $1,026