Sony Music Group has reported its earnings for its financial year Q2 period (the calendar year third quarter) for the three months to September 30.

Revenue for parent company Sony Corp’s music segment increased 21% year-on-year to 542 billion yen ($3.51bn), reflecting higher streaming revenue in recorded music and publishing as well as higher Visual, Media & Platform (VM&P) sales. The VM&P performance is due to the contribution from Japanese animated film Demon Slayer: Kimetsu No Yaiba Infinity Castle.

Sony’s music segment operating income increased 28% year-on-year to 115 billion yen ($746m ).

Recorded Music revenue increased 10.5% year-on-year to 321 billion yen ($2.08bn). On a US dollar basis, streaming revenues for the quarter increased 12% year-on-year in recorded music and 25% in music publishing. Physical sales grew 7% to 27 billion yen ($175m). 

Top sellers for the quarter were led by Bruce Springsteen, SZA, Tyler, The Creator, Bad Bunny and Tate McRae.

Music publishing revenue increased 16% year-on-year to 106 billion yen ($687m).

The financial year sales forecast has been revised upwards from August by 6% due to anticipated higher revenue in VM&P and the positive impact from foreign exchange rates.

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