Our Terms & Conditions | Our Privacy Policy
Sony Corp’s Music segment reported continued growth in the fiscal third quarter ending December 31, 2024 (the Q4 calendar period).
The Music segment includes Sony Music Entertainment, Sony Music Entertainment (Japan) and Sony Music Publishing.
Total revenue for the music segment increased 14% year-on-year in yen terms (482 billion yen), led by growth in music subscription streaming revenues across recorded music and publishing.
Segment operating income increased 28% in yen on higher recorded music and publishing revenue.
Top sellers for the quarter included Ateez, Tyler, The Creator, SZA, Rod Wave and Mylène Farmer, among others.
The Music segment revenue for the quarter was positively impacted by a one-time item in recorded music related to revenue recognition from a DSP.
During the fiscal Q3, Sony’s Recorded Music business – Sony Music Entertainment and Sony Music Entertainment (Japan) – reported a 12% year-on-year gain in recorded music streaming on a yen basis (210 billion yen) including one-time factors. On a US dollar basis, recorded music streaming increased 9% including one-time factors.
Physical revenue dipped 4% year-on-year during the quarter to 30 billion yen.
Sony’s music publishing business reported an 11% revenue year-on-year gain in yen (95 billion yen) in Q3 led by higher streaming sales. Publishing streaming revenue increased 8% in US dollars ($626m) during the quarter.
Sony has increased its financial year-end revenue forecast by 3%
For more stories like this, and to keep up to date with all our market leading news, features and analysis, sign up to receive our daily Morning Briefing newsletter
Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.
Aggregated From –
Comments are closed.