{"id":111110,"date":"2024-11-08T09:07:29","date_gmt":"2024-11-08T14:07:29","guid":{"rendered":"https:\/\/www.cyberlego.com\/web\/2024\/11\/08\/sony-music-reports-double-digit-revenue-growth-driven-by-sza-david-gilmour-and-live-shows\/"},"modified":"2024-11-08T09:07:29","modified_gmt":"2024-11-08T14:07:29","slug":"sony-music-reports-double-digit-revenue-growth-driven-by-sza-david-gilmour-and-live-shows","status":"publish","type":"post","link":"https:\/\/www.cyberlego.com\/web\/2024\/11\/08\/sony-music-reports-double-digit-revenue-growth-driven-by-sza-david-gilmour-and-live-shows\/","title":{"rendered":"Sony Music Reports Double-Digit Revenue Growth, Driven By SZA, David Gilmour and Live\u00a0Shows"},"content":{"rendered":"

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\n\tSony Music revenue grew 10% year-on-year to 448.2 billion yen ($2.9 billion) last quarter, as hit records by SZA<\/a>, David Gilmour<\/a> and Travis Scott<\/a>, coupled with higher sales from live shows and merchandise, helped boost growth in both recorded music and music publishing.<\/p>\n

\n\tFor its fiscal second quarter ended Sept. 30, Sony Music \u2014 comprising Sony Music Entertainment, Sony Music Entertainment Japan and Sony Music Publishing \u2014 reported quarterly operating income of 90 billion yen ($589 million), a 12% rise on the same period a year ago.<\/p>\n

\n\tAdjusted operating income before depreciation and amortization (OIBDA) climbed 15% year-on-year, totaling just under 112 billion yen ($733 million), Sony Music\u2019s parent company, Sony Group Corp., reported Friday (Nov. 8).<\/p>\n

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\t\t\t\t\tPink Floyd Sells Recorded Music Assets to Sony. Could Publishing Be Up for Grabs\u00a0Next?\t\t<\/p>\n<\/h3><\/div>\n

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\n\tThe company said growth in revenue from streaming subscriptions, live events and merchandise from recorded music, as well as the impact of foreign exchange rates were among the key drivers of its positive quarterly financial results. They bring Sony Music\u2019s half-year earnings up to 890.2 billion yen ($5.8 billion), up 16% year-on-year, with a half-year operating income of 176 billion yen ($1.1 billion).\u00a0<\/p>\n

\n\tBreaking down Sony Music\u2019s quarterly earnings, recorded music revenue increased 14% year-on-year to 290 billion yen ($1.9 billion), with subscription and ad-supported streaming up 9% to 189 billion yen ($1.2 billion), accounting for around 65% of the firm\u2019s recorded music earnings.<\/p>\n

\n\tPhysical revenue jumped 22% year-on-year to 25 billion yen ($164 million), while Sony\u2019s \u201cother\u201d category \u2014 which includes revenue from merchandise, live performances and licensing revenue from synch, public performance and broadcast \u2014 was up 33% to 68 billion yen ($446 million).<\/p>\n

\n\tSZA\u2019s blockbuster album SOS<\/em>, which has broken numerous chart records since it was first released in December 2022, including overtaking Aretha Franklin<\/a>\u2019s Aretha Now<\/em> as the longest-running chart topper of the Top R&B\/Hip-Hop Albums tally, was Sony Music\u2019s top seller of the quarter.<\/p>\n

\n\tIn second place was Gilmour\u2019s first studio album in nine years, Luck and Strange<\/em>, which debuted at No. 10 on the Billboard 200 earlier this year. Other top sellers for Sony Music in the three month period included Scott\u2019s UTOPIA<\/em>, Future<\/a> & Metro Boomin<\/a>\u2019s WE DON\u2019T TRUST YOU<\/em>, Beyonc\u00e9<\/a>\u2019s COWBOY CARTER<\/em>, Harry Styles<\/a>\u2019 Harry\u2019s House<\/em> and Luke Combs<\/a>\u2019 This One\u2019s for You<\/em>. The one title in the top 10 from outside this decade was Michael Jackson<\/a>\u2019s Thriller<\/em>, the 1982 classic co-produced by Quincy Jones<\/a>, who passed away<\/a> on Sunday (Nov. 3).\u00a0<\/p>\n

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\t\t\t\t\tUniversal Music Group Had Revenue of $3.2 Billion in Q3, a Gain of 4.3% Year Over\u00a0Year\t\t<\/p>\n<\/h3><\/div>\n

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\n\tOn the music publishing side, Sony Music reported revenue of 92 billion yen ($604 million), up 11% year-on-year. The company said the strong performance of its publishing arm was led by strong gains in streaming income, which rose 9% to just under 53 billion yen ($347 million). Publishing\u2019s \u201cother\u201d category grew by around 13% year-on-year to 38.6 billion yen ($253 million). The company disclosed that as of March 31, its publishing division either owned or administered approximately 6.24 million songs.<\/p>\n

\n\tVisual media and platform sales, which includes revenue from animation titles, game applications and service offerings for music and visual products, fell slightly to 62 billion yen ($407 million), down 1% on the same period last year. \u00a0<\/p>\n

\n\tSony Music said its forecast for full-year revenue was unchanged from the previous quarter with projected sales of 1.74 trillion yen (approximately $11.4 billion) and projected operating income of 330 billion yen ($2.2 billion).<\/p>\n

\n\t\tSony Music\u2019s fiscal second quarter highlights:\t<\/h3>\n

\n\t\u25aaRevenue of 448 billion yen ($2.9 billion), up 10% year-on-year
\u25aaAdjusted operating income of 112 billion yen ($733 million), up 15%
\u25aaRecorded music revenue increased 14% year-on-year to 290 billion yen ($1.9 billion)
\u25aaMusic publishing revenue of 92 billion yen ($604 million), up 11%
\u25aaVisual media and platform revenue of 62 billion yen ($407 million), down 1%<\/p>\n<\/div>\n<\/div>\n

Aller \u00e0 la source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Sony Music revenue grew 10% year-on-year to 448.2 billion yen ($2.9 billion) last quarter, as hit records by SZA, David Gilmour and Travis Scott, coupled with higher sales from live shows and merchandise, helped boost growth in both recorded music and music publishing. For its fiscal second quarter ended Sept. 30, Sony Music \u2014 comprising […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-111110","post","type-post","status-publish","format-standard","hentry","category-musique","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"_links":{"self":[{"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/posts\/111110","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/comments?post=111110"}],"version-history":[{"count":0,"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/posts\/111110\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/media?parent=111110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/categories?post=111110"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/tags?post=111110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}