In a recent article in Music Business World, Sony’s global recorded music operation (Sony Music) saw its annual streaming revenues jump by 19.5%, or nearly half a billion US dollars (+$467m), in calendar 2020.
Those streaming revenues hit $2.87bn in the 12 months, as Sony’s worldwide recorded music revenues – across all formats, licensing etc. – hit $4.51bn, up 8.1% YoY. After a pandemic-affected wobble in calendar Q2, Sony Music had a much stronger Q3 – the three months to end of September – when its quarterly turnover returned above $1 billion ($1.16bn).
However, there can be no doubting the star quarter of Sony Music’s last year: numbers revealed by Sony Corp today (February 3), analyzed by MBW, show that Sony Music generated $1.36bn in global recorded music revenues in calendar Q4 (Sony’s fiscal Q3), up by 17.5% year-on-year. That represented a YoY jump in quarterly revenue of over $200m.
Sony Music’s quarterly streaming revenues in calendar Q4 (the three months to end of December) jumped up 26% YoY, or by $174m, to $843m. The firm’s physical revenues also rose significantly in calendar Q4 – during a pandemic, no less – up 41.3% year-on-year to $336m.
Read the full article here