Sony Corps’s Music segment (recordings and music publishing) reported continued growth in the fiscal second quarter ending September 30, 2024.

Total revenue for the music segment increased 10% year-on-year to 448 billion yen (£2.27 billion), reflecting growth in music subscription streaming revenues across recorded music and publishing, as well as higher revenues for live and merchandise in recorded music. 

The quarterly revenues reflect a 10.7 billion yen positive impact from currency fluctuations when converting US dollars and other foreign currencies to yen.

Sony’s recorded music business – Sony Music Entertainment and Sony Music Entertainment (Japan) – reported strong growth in Q2 led by a 9% gain in streaming revenue on a yen basis (up 5% in US dollars). Total recorded music revenue was up 14%.

Physical revenue was up 22%, while revenue from live, merchandising and licensing (sync, public performance, etc) surged by 33%.

Sony Music Publishing reported a double-digit percentage revenue gain of 11% in Q2 led by a 9% gain in streaming on a yen basis (up 6% in US dollars).

The music segment operating income increased 12% on higher recorded music and publishing revenue.

Top sellers for the quarter were led by SZA, David Gilmour and Travis Scott among others.

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