TOKYO (CelebrityAccess) — Japanese entertainment and tech conglomerate Sony released the financial results for its second fiscal quarter, revealing that revenue from music operations rose by approximately 11% year-over-year to ¥444 billion.
Sony Music reported Q2 revenue from music streaming at ¥189.5 billion ($1.27 billion), an increase of ¥15.6 billion ($105 million). Recorded music, including physical products, grew to ¥100.8 billion ($675 million), up by ¥20.9 billion ($140 million). Revenue from music publishing reached ¥91.5 billion ($618 million), rising by ¥8.8 billion ($59 million).
Operating income for Sony’s music segment rose by ¥9.4 billion ($63 million) to ¥90.4 billion ($606 million), driven by music streaming and licensing, though the segment saw smaller gains compared to Sony’s Game & Network division.
Sony attributed growth to developing markets, supported by digital distribution and artist services from The Orchard and AWAL. Sony also emphasized the successful exploitation of its back catalog, particularly in markets like the U.S., where music over 18 months old or older accounted for 73% of music consumption.
This trend is reflected in the Spotify Global Top 200, where the share of songs released more than 10 years ago rose from under 5% in 2020 to over 20% by July 2024. Sony credits this shift to changing consumer demographics, with older users listening more and younger audiences discovering classic hits through social media.
“We have carefully selected evergreen music catalogs and acquired them through investment or licensing agreements. These catalog assets provide a stable long-term revenue base, not only from streaming but also from use in media such as movies and ads,” Sony stated.
