Sony Music has issued its financial results for the Q4 period (the company’s financial Q3).
Sony Corp’s music segment reported quarterly revenue of 542 billion yen ($3.45bn), an increase of 13% year-on-year.
The revenue gain was driven by higher live events and merchandising revenue in recorded music, as well as higher streaming revenues in recorded music and publishing.
Total operating income was up 9% year-on-year to 106bn yen ($674m), while adjusted OIBDA was up 10% to 133bn yen ($845.7m).
Recorded music streaming revenue increased by 6% year-on-year to 223bn yen ($1.4bn). The yen figures include a positive impact from currency conversion; streaming revenue would be up 5% US dollars.
Physical music revenue increased by 17% year-on-year in the quarter to 35bn yen ($222.6m).
Top sellers in the quarter included music releases by Rosalía (pictured), Pink Floyd, Tyler, The Creator, Tate McRae, SZA, Tame Impala, Bad Bunny, Michael Jackson, Mariah Carey and Depeche Mode.
Revenue at Sony Music Publishing increased by 14% year-on-year to 108bn yen ($686.9m). Publishing streaming income increased by 13% year-on-year in US dollars.
For the full year forecast, Sony has revised music segment sales up by 4% (70bn yen) due to the positive impact from currency fluctuations and higher revenues from live events and merchandising in recorded music.
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