<\/p>\n
\n\tLed by SZA\u2019<\/a>s SOS<\/em>, Travis Scott<\/a>\u2019s UTOPIA<\/em> and growth in paid subscription streaming services, Sony Music revenue grew 16.9% to 1.59 trillion yen ($11.05 billion) in its fiscal year ended March 31, its parent company, Sony Corp., reported Tuesday, May 14.<\/p>\n \n\tSony Music\u2019s revenue topped guidance of 1.56-1.57 trillion yen given in Sony Corp\u2019s previous quarterly earnings in February<\/a>. Its adjusted operating income before depreciation and amortization (AOIBDA) of 368.7 billion yen ($2.55 billion) also topped guidance of 350-360 billion yen.<\/p>\n \n\tThe yen-denominated revenue figures were boosted by foreign exchange rates. Of Sony Music\u2019s revenue gain, about 32%, or 76.5 billion yen ($529 million), came from foreign exchange. Both recorded music and music publishing divisions enjoyed higher revenue from streaming services and paid subscriptions \u2014 Spotify\u2019s price increase in July 2023, and continued subscriber growth at all platforms, also provided a boost to recent earnings by Universal Music Group<\/a> and Warner Music Group<\/a>. <\/p>\n \n\tRecorded music revenue of 1.07 trillion yen ($7.39 billion) was up 20.4% from the prior year. While physical revenue dropped 7.4% to 101.3 billion yen ($701.7 million), streaming jumped 18.5% to 709.5 billion yen ($4.91 billion) and accounted for 66.5% of recorded music revenue, down from 67.7% in fiscal 2022. The \u201cother\u201d category, which includes merchandise, rose 59.8% to 221.4 billion yen ($1.53 billion).\u00a0<\/p>\n \n\tOther top releases for the fiscal year were Bad Bunny\u2019s Un Verano Sin Ti<\/em>, Harry Styles\u2019 Harry\u2019s House<\/em>, Miley Cyrus\u2019s Endless Summer Vacation<\/em>, Luke Combs\u2019 Gettin\u2019 Old<\/em>, Peso Pluma\u2019s Genesis<\/em>, Doja Cat\u2019s Scarlet<\/em>, Rod Wave\u2019s Nostalgia<\/em> and Beyonc\u00e9\u2019s Renaissance<\/em>.\u00a0<\/p>\n