Sony Music’s parent company published its latest financial results yesterday, including figures for its music business.
As usual, MBW has had its calculator out to crunch the currency conversions. It estimates that Sony Music’s recorded music revenues grew by 25.2% in 2021 as a whole to $5.77bn, while its music publishing revenues grew by 19.7% to $1.72bn. That’s around $7.49bn overall, up 23.9%.
The analysis also includes estimates for streaming’s proportion of these revenues: 68.3% for recorded music and 49.4% for publishing. A tipping point may be incoming for the latter, then.
These figures are for the calendar year 2021, although Sony’s financial year actually runs from the start of April to the end of March.
In separate news, Sony Music is teaming up with stablemate Sony Pictures to launch a joint venture: Sony Entertainment Talent Ventures India. The plan is to tap “the vast pool of commercial talent and star-power in India to build investment opportunities, partnerships, metaverse solutions and more”.
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