Sony Music reported strong financial results for the second quarter of 2017 – its fiscal Q1 – with revenues up 18.8% year-on-year to $1.52bn.
The label’s operating profit jumped by 57.6% to $225.2m in the same period. Within that, Sony’s recorded-music businesses saw revenues grow by 11.3% to $898.5m, while its collected publishing operations jumped 7.7% to $151.7m.
If you’re wondering why the overall growth was larger than either, that’s because Sony’s Visual and Media division, which includes a booming mobile gaming business, saw revenues climb 46.4% to $435.6m.
Sony Music’s financials offer some useful data on the changing dynamics of the recorded-music business, as usual. Streaming revenues for that part of Sony Music were up 22% to $346m in the second quarter, while downloads slumped 24.2% to $153.7m.
One surprise: physical sales were actually up 16.3% year-on-year to $302m, showing how CD and vinyl sales are long-outliving downloads for this label, at least.