SONY MUSIC CRUSHES

Sony Music pulled in $2.5b in the last three months of 2020, a 27% spike over the same quarter in 2019.

The market was well pleased by the numbers; Sony stock is up a mighty 12% as of this writing.

Streaming revenues rose 26% to $842.7m. Physical sales, driven by hits in Japan, were up 42% to $517.2m, visual media and platform, buoyed by the hit Demon Slayer, spiked 57% to $741m and publishing was up 18% to $430m.

Operating income was up 71% to $571m, and the operating income margin hit almost 23%, a rise of 6%. The strong showing led Sony to up the year-end revenue forecast for the music division to $8.5b. Titles from AC/DC, Harry Styles, Bruce Springsteen, Luke Combs, 24kGoldn and The Kid LAROI were among the quarter’s top performers.

Sony has realigned its product-category configuration in the music segment. Recorded Music—Streaming includes the distribution of digital recorded music via streaming; Recorded Music—Others includes the distribution of recorded music by physical media and digital download as well as revenue derived from artists’ live performances; Music Publishing includes the management and licensing of the words and music of songs; and Visual Media and Platform includes the production and distribution of animation titles.

Overall, Sony Corp.'s fiscal Q3 net profit rose 62% to $3.54b, the result of higher earnings from its game and electronics businesses.

NEAR TRUTHS: OF MICE AND MEDIA
Welcome to the Mouse House. (11/4a)
NEAR TRUTHS:
BLUSH OF FAME
We'll drink to that. (11/1a)
HITS LIST: A NOVEMBER TO REMEMBER
Strap in for the roller-coaster ride. (11/4a)
HOLLY GLEASON SNAGS SIX NATIONAL A&E JOURNO NOMS
Oops, she did it again. (10/30a)
TYLER IS HEADED TO THE TOP
Unconventional move by unconventional dude is paying off. (10/30a)
THE GRAMMY SHORT LIST
Who's already a lock?
COUNTRY'S NEWEST DISRUPTOR
Three chords and some truth you may not be ready for.
AI IS ALREADY EATING YOUR LUNCH
The kids can tell the difference... for now.
ALL THE WAY LIVE
The players, the tours, the enormous beers.
 Email

 First Name

 Last Name

 Company

 Country