For the company’s fiscal Q2 up to September 30, recorded music revenues increased by 9.9% year-on-year at 123.324 billion yen (£912m). Streaming revenue increased by 18% year-on-year and even physical music was up by 29.4%. Streaming now represents 63.9% of recorded music revenue.
That compares to a tricky fiscal Q1 period three months ago when Covid-19 hit revenues. Recorded music revenues were down 12.4% year-on-year in Q1.
After a downturn last quarter, music publishing growth was flat in Q2 at 37.56bn yen (£278m).
Sony highlighted new and upcoming releases from AC/DC, Bruce Springsteen, Future, G-Eazy and Little Mix.
Sony Corp’s music segment (including recorded music, publishing and visual media) increased revenue by 5.3% year-on-year at 230.9bn yen (£1.71bn). Operating income was up by 41.1% year-on-year at 52.9bn yen (£391m).
Sony has now upped its forecast for the music segment in 2020 to 850bn yen (£6.29bn), compared to a projection of 790bn yen (£5.84bn) in August.