Sony Music Posts Another $1 Billion Quarter

Growth

MUSIC BUSINESS WORLDWIDE reports SONY’s recorded music operation generated more than $1 billion for the second quarter in a row in the three months to end of SEPTEMBER. According to MBW calculations based on a fiscal update from parent SONY CORP, SONY MUSIC’s global streaming revenues hit $622m in the quarter, up 21.4% year-on-year.

Total recorded music revenues in the three months (calendar Q3, but Sony’s fiscal Q2) stood at $1.04bn, up 10.5% year-on-year. 

Physical music sales in the quarter stood at $189.1m, up 3.6% year-on-year – continuing an interesting trend also seen at UNIVERSAL MUSIC GROUP, where physical recorded music revenues also rose year over year in the same three months.

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