Warner Music Group today reported that publishing revenue at Warner/Chappell Music increased in the quarter by 8.4% from the prior-year quarter to $155 million. On a constant-currency basis, revenue was flat.

In the United States, publishing revenue grew 4.9%. Internationally, it grew 11%, but declined 3.2% on a constant-currency basis.

Digital revenue was $9 million, representing 5.8% of total publishing revenue for the quarter.

Declines in mechanical revenue of 9.5% and in synchronization revenue of 4.5% -- both on a constant-currency basis -- were offset by a 50% increase in digital revenue and a 3.4% increase in performance revenue.

Synchronization revenue was negatively impacted by the Writers Guild of America strike, the company reported.

Publishing income was $36 million, down 5.3% from $38 million in the prior-year quarter, resulting in an operating margin of 23.2% down 3.3 percentage points from the prior-year quarter.

Publishing operating income before depreciation and amortization (OIBDA) increased 1.9% to $54 million for the quarter, compared to $53 million in the prior-year quarter.

Publishing OIBDA and OIBDA margin were flat year-over-year, excluding a $1 million favorable impact of foreign currency exchange rates.

Questions? Comments? Let us know: @billboardbiz

Print