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SONY MUSIC BUOYANT
IN FISCAL Q1

Sony Corp. announced earnings for the first quarter of the company’s fiscal year, and the good news just keeps on coming for Rob Stringer, Marty Bandier and their merry men and women.

Streaming generated $346m for Sony Music in fiscal Q1, ending 6/30, a 22% year-over-year gain. Giving the stat an even sexier spin, that comes out to roughly $3.8m per day, as our friends at MBW usefully point out.

Meanwhile, digital downloads continued their swoon, accounting for just $116.5m (-22.1%). But get this: Physical revenue increased even as streaming grew, as consumers dropped $302m (+13.1%) on CDs and vinyl during the quarter.

Bottom line: Streaming accounted for nearly 40% of Sony Music’s recorded-music revenues, while physical represented a third. Specifically, that’s 38.5% for streams, 33.6% for physical albums. 

Can you say “bifurcation”?

Recorded-music revenues were $898.5m (+8.3%) in constant currency; publishing revenues also saw an uptick, hitting $151.7m (+4.8%).

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