Sony Music’s segment has reported double-digit revenue growth in the company’s fiscal second quarter (calendar Q3 ending September 30).
Parent company Sony Corp’s music segment comprises Sony Music Entertainment, Sony Music Entertainment (Japan) and Sony Music Publishing
The company experienced revenue growth, as well as strong increases in its merch and live businesses.
Music segment revenue gains reflect the near 300% increase in physical and digital music sales of the Michael Jackson catalogue following the release of movie biopic Michael.
In addition, the performance was boosted by Ella Langley exceeding 1.8 billion cumulative streams globally and breaking multiple records on the music charts.
Top Sony sellers in the quarter included Ateez, Michael Jackson, Ella Langley, Bad Bunny (Rimas Entertainment), SZA and Shakira (with Burna Boy).
Total revenue for the music segment increased by 10.3% year-on-year to 598 billion yen (£3.71bn), thanks to growth in music streaming revenues across recorded music and publishing along with merchandising and live revenue.
Total Recorded Music revenue was up 19.5% year-on-year to 385bn yen ($2.39bn). Physical music revenue was up 16.5% year-on-year to 32bn yen.
Streaming revenue for the quarter, on a US dollar basis, increased 7.4% year-on-year in Recorded Music and 5.7% in Music Publishing.
Total operating income increased 6.4% year-on-year to 123bn yen ($760m), reflecting higher revenue from streaming services.
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