Financials season continues, with Sony Music’s parent company and Warner Music Group’s latest figures out this week. Sony reported that its music division’s recorded-music revenues grew by 1% year-on-year to ¥301bn ($2.04bn at current exchange rates) in the second quarter of this year – its fiscal Q1. That included 7% growth in streaming revenues and an 11% spike in physical sales.
Meanwhile, Sony’s music publishing revenues grew by 2% to ¥99bn ($672.4m), also including an 8% uptick in streaming revenue. As for WMG, it reported recordings revenue up 8% year-on-year to $1.35bn. While streaming subscriptions grew by 5.3% as part of that, ad-supported revenues fell by 0.9% due to what WMG described as “a soft overall ad environment”. Its publishing business grew by 10% to $336m.
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source musically.com ’
