Sony Corporation published financial results for the third quarter of 2021 (the company’s fiscal Q2) yesterday, including the latest figures for Sony Music. The group’s music revenues grew by 18% year-on-year to ¥271.6bn (around $2.39bn) driven by increases in revenue from both subscription and ad-supported streaming services, although unlike rival UMG there was no bounceback in physical sales.
Note, due to the way Sony is organised, the ‘music’ revenues above also include revenues from its ‘visual media and platform’ arm, which includes some lucrative mobile games.
MBW has been separating out the actual music figures, estimating that Sony Music’s recorded music revenues grew by 19% year-on-year to $1.42bn last quarter, while its publishing revenues were up 21.5% to $429.7m.
Tools: platforms to help you reach new audiences
Tools :: Wyng
Through Music Ally’s internal marketing campaign tracking, we’ve recently discovered an interesting website by the…