Sony Music Entertainment Financials Led By Streaming Revenues

Khalid, Lil Nas X Drive Profits

SONY CORP. has released fiscal Q1 (calendar Q2) results, with music revenues at $1.02 billion (U.S.), up 11.5% year-on-year. MUSIC BUSINESS WORLDWIDE reports, "Quarterly sales of physical formats dipped slightly YoY, down 3.4% to $200m, while download sales dropped 19.1% to $79.1 million," adding, "In terms of the first six calendar months of 2019, SONY’s half-year recorded music revenues hit $1.97bn, up 2% (or approximately $40m) year-on-year."

SONY MUSIC ENTERTAINMENT’s top selling artists were

1. KHALID’s Free Spirit 
2. LIL NAS X’s Old Town Road 
3. P!NK’s Hurts 2B Human 
4. BRUCE SPRINGSTEEN’s Western Stars 
5. DJ KHALED’s Father Of Asahd

Global streaming revs were up 26.5% in the quarter, reaching $604.9 million.

« see more Net News