In Sony’s latest latest quarterly financial report, Sony Music revenue grew 10% year-on-year to 448.2 billion yen ($2.9 billion) last quarter.
Recorded music revenues grew 14% to ¥290bn ($1.9 billion), including 9% growth in recorded streaming revenue to ¥189bn. In a notable spike, physical revenues grew 22% for Sony to €25bn ($164 million).
SZA, Travis Scott and David Gilmour were noted as some of the success stories for Sony that boosted their performance last quarter.
According to Billboard, SZA’s blockbuster album SOS has broken numerous chart records since it was first released in December 2022, including overtaking Aretha Franklin’s Aretha Now as the longest-running chart topper of the Top R&B/Hip-Hop Albums tally. Other top sellers for Sony Music included Travis Scott’s UTOPIA, Future & Metro Boomin’s WE DON’T TRUST YOU, Beyoncé’s COWBOY CARTER, Harry Styles’ Harry’s House and Luke Combs’ This One’s for You. The one title in the top 10 from outside this decade was Michael Jackson’s Thriller, the 1982 classic co-produced by Quincy Jones, who passed away on Sunday (Nov. 3).
Sony’s music publishing business saw its revenues grow 11% to ¥92bn ($604 million), including a 9% increase in its streaming revenues.
