US dollars money

Business continued to be good for the major labels in the first quarter of 2022. We already know about Universal Music Group’s 21.6% year-on-year growth, but now Sony Music and Warner Music Group have reported their Q1 figures too.

Their revenues were up by 13.5% (to $1.99bn) and 10.1% (to $1.38bn) respectively. MBW has its usual number-crunching to tease out Sony’s music numbers from the other parts of its business, noting that Sony Music’s global recorded music streaming revenues were up 20.2% year-on-year to $1.04bn.

There’s something bubbling at WMG though, which noted that its streaming revenues were up by just 9% year-on-year due to “the impact of a new deal with one of our digital partners affecting Recorded Music streaming revenue”. WMG hasn’t said who the partner is or why there was this impact.

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