Sony Music

Music A Bright Spot For Sony Q2

125 0


TOKYO (CelebrityAccess) — Sony Music reported another round of rosy results for second fiscal quarter of 2019, with the division reporting operating revenue of 37.5 billion yen ($344 million) for the period.

Sony Music reported sales of 15.4bn yen, up by 8% in the second quarter when measured against the same period in 2018.

During the same period, operating income was up as well, from 31.5bn yen to 37.5bn yen, an increase of 19% year-over-year.

According to Sony, recorded music revenues were 112.2bn yen, up 6.4%, or just over $1.04bn USD.

An analysis by Music Business Worldwide showed that Sony’s global streaming revenues were a key driver for the division and rose to $622 million, up by 21.4% from the previous quarter.

Surprisingly, revenue from physical sales improves as well, rising to $189.1m for the quarter, up by 3.6% over the previous year.

Overall, revenue for the Sony Corporation as a whole was down by 3%.

Related Post