SONY MUSIC POSTS $1.6B IN QUARTERLY INCOME AS STREAMING JUMPS 35%

Sony’s world music operations — Sony Music Group and Sony Music Japan — grew 26% to 235.7 billion yen ($2.07 billion) from the prior yr’s complete of 187.11 billion yen ($1.79 billion), as streaming and different music revenue streams posted large features for its fiscal third quarter, in response to the corporate’s earnings report launched Wednesday (Feb. 2).

©Photo: Sony Music

Through the third quarter, which ended Dec. 31, streaming in recorded music and music publishing mixed was up 34% to 145.51 billion yen ($1.28 billion) from the prior yr’s complete of 108.55 billion yen ($1.04 billion), a acquire of $240 million whereas different revenue streams. In recorded music, different music revenue streams, which incorporates reside and merchandising, posted a 97.4% improve to 24.36 billion yen ($214.26 million), or almost double the 12.34 billion yen ($118.1 million) tallied within the prior yr’s fiscal third quarter, or a acquire of $96 million. These features have been barely offset by declines in bodily music.

The corporate’s recorded music operations — Sony Music Leisure and Sony Music Japan — grew 29.3% to 183.79 billion yen ($1.616 billion) from the corresponding interval within the prior yr when income totaled 142.1 billion yen ($1.36 million).