SONY MUSIC EARNINGS: THE DOUG & MARTY SHOW

Sony Corp. has released its earnings report for fiscal 2016, which ended 3/31, and Sony Music plays a starring role.

Revenue was up 10.4% over the previous year to $5.47 billion, with operating profit of $773m. Of that total, Doug Morris’ recorded music operation accounted for $3.65b (+7.7% YoY), with streaming at $986m, or 27% of the total, outpacing downloads, which generated $767m (-3.4%), or 21%. Interestingly, physical remains the biggest contributor with 38%

Marty Bandier’s Sony/ATV and EMI Music Publishing registered $631m, a 7.7% uptick.

Sony has postponed its forecast for the fiscal year beginning 4/1 until May because it needs to assess damage caused by the recent severe earthquakes in Kumamoto prefecture. Sony has significant semiconductor operations in the area.