Sony Music Sales, Income Rise In FY2023 First Quarter

FY2023 Q1 Up

SONY MUSIC sales rose 16% year-over-year to ¥358.2 billion in Fiscal 2023 first quarter, credited to increased revenues from paid subscription streaming services (up 12% for recorded music to ¥164.9 billion and up 18% for music publishing to ¥41.6 billion) and the impact of foreign exchange rates.

Operating income grew from ¥61 billion to ¥73.4 billion, while Adjusted OIBDA increased from ¥74.7 billion to ¥82.9 billion.

The company projects a 6% increase for FY2023 to ¥1.49 trillion.

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