Sony Group Corporation published its latest financial results yesterday, including figures for Sony Music Entertainment.
The official numbers for Sony’s ‘Music’ segment in the second quarter (its fiscal Q1) included revenues of ¥358.2bn ($2.49bn at current exchange rates). That was up 16.3% year-on-year.
The company cited growth from paid subscriptions as the key factor in this increase, although the impact of foreign exchange rates also played a role.
MBW has done its usual filleting of these figures to remove the ‘Visual Media & Platform’ revenues from this total – that’s revenues from mobile games and animation projects that sit within ‘Music’ in the financials.
It calculates that Sony’s purely-music revenues grew 12.5% year-on-year to $2.28bn last quarter. Within recorded music, Sony Music’s streaming revenues were up 12% to just over $1.2bn, while for publishing, streaming was up 17.6% to $303.7m.