Sony’s world music rights operation – throughout recorded music and music publishing – generated USD $2.70 billion within the three months to finish of December 2024.
That’s in response to MBW’s calculations based mostly on Sony Group Corp’s calendar This fall 2024 (fiscal Q3) outcomes, as introduced by the Japanese agency at this time (February 13).
The $2.70 billion determine was up 7.1% year-on-year (on the determine Sony reported in calendar This fall 2023) at US dollar-converted fixed forex.
Nonetheless, the calendar This fall determine was boosted by Sony altering the way in which it reviews quarterly recorded music streaming gross sales from one digital platform, from a web foundation to a gross foundation. (The exact affect of this alteration was unspoken by Sony.)
[Note: Corporately speaking, Sony Group’s global music operation includes recorded music, plus music publishing, plus ‘Visual Media & Platform’. The final category primarily covers mobile games and animation projects, and has been omitted from MBW’s revenue calculations in this report.]
Sony’s recorded music operation
Sony’s world recorded music operation reported revenues of USD $2.07 billion in calendar This fall 2024, up 6.9% YoY versus the equal reported quarterly interval of the prior 12 months.
Inside that calendar This fall 2024 world recorded music consequence, streaming generated $1.38 billion, up 9.2% YoY vs. the equal reported determine from the prior-year quarter.
(This ‘streaming’ quantity combines each subscription and ad-funded streaming revenues generated by Sony’s world recorded music operation. Once more, the most recent quarter in these figures was boosted by Sony altering the way in which it reviews quarterly recorded music streaming gross sales from web to gross for one unnamed platform companion. )
Quarterly revenues from bodily music gross sales in calendar This fall 2024 hit USD $198.6 million, down 6.8% YoY.
Sony’s ‘Different’ fiscal class inside recorded music generated $453.8 million in calendar This fall 2024, considerably up on the $403.9 million generated within the prior-year quarter.
This latter class (‘Different’) consists of license income (public efficiency, broadcast and sync), merchandising, and stay efficiency revenue.
In accordance with Sony Corp‘s outcomes, Sony Music Leisure‘s ten greatest recorded music tasks within the calendar This fall 2024 quarter (ex-artists signed in Japan), so as of worldwide income technology, had been as follows:
- ATEEZ – GOLDEN HOUR : Half.2
- Tyler, The Creator – CHROMAKOPIA
- SZA – SOS
- Rod Wave – Final Lap
- Mylène Farmer – Nevermore
- Mariah Carey – Merry Christmas
- Travis Scott – UTOPIA
- Future – MIXTAPE PLUTO
- Tyler, The Creator – IGOR
- Michael Jackson – Thriller
Sony’s Music Publishing operation
Sony’s world music publishing operation – led by Sony Music Publishing – generated USD $626.3 million within the three months to finish of December 2024.
That quarterly income determine, on the US greenback degree, was up 7.6% year-on-year.
Sony’s world music publishing operation derived $369.8 million of its quarterly revenues within the calendar This fall 2024 interval from streaming.
That publishing streaming determine was up 7.5% year-on-year.
Sony’s world music earnings
Sony Corp additionally at this time issued some revenue numbers for its company Music division within the three months to finish of December 2024.
(The next figures embrace Sony’s operations throughout Recorded Music, Music Publishing plus Visible Media & Platform.)
In calendar This fall 2024 (fiscal Q3 2024), Sony’s company Music division posted a quarterly working revenue of 97.4 billion Yen (USD $640m).
That represented an working margin of 20.2%, from whole divisional quarterly revenues (once more, together with ‘Visible Media & Platform’) of 481.7 billion Yen (USD $3.16bn).
Sony Corp moreover presents to buyers its Adjusted OIBDA efficiency in every quarter (see under) – a metric additionally utilized by Warner Music Group to current its earnings.
In calendar This fall 2024 (fiscal Q3 2024), Sony’s Music division posted an Adjusted OIBDA of 121.4 billion Yen (USD $797m).
That represented an Adjusted OIBDA margin from whole divisional quarterly revenues of 25.2%.
Notice: All YoY share rises/falls printed on this story are calculated at fixed forex on the US dollar-converted degree. MBW makes use of Sony’s personal quarterly common forex charges for these calculations.
See under for the breakdown of Sony’s newest (fiscal) quarterly figures for music in Japanese Yen, as printed by Sony Group Corp at this time.
For this evaluation, MBW has calculated Sony’s financials from Japanese Yen into US {dollars} on the following prevailing change charges in every quarter, as supplied by Sony Corp:
- Calendar Q1 2020: 109.0 Yen per USD
- Calendar Q2 2020: 107.6 Yen per USD
- Calendar Q3 2020: 106.2 Yen per USD
- Calendar This fall 2020: 104.5 Yen per USD
- Calendar Q1 2021: 105.9 Yen per USD
- Calendar Q2 2021: 109.5 Yen per USD
- Calendar Q3 2021: 110.1 Yen per USD
- Calendar This fall 2021: 113.7 Yen per USD
- Calendar Q1 2022: 116.1 Yen per USD
- Calendar Q2 2022: 129.4 Yen per USD
- Calendar Q3 2022: 138.2 Yen per USD
- Calendar This fall 2022: 132.3 Yen per USD
- Calendar Q1 2023: 135.4 Yen per USD
- Calendar Q2 2023: 137.0 Yen per USD
- Calendar Q3 2023: 144.4 Yen per USD
- Calendar This fall 2023: 147.9 Yen per USD
- Calendar Q1 2024: 148.2 Yen per USD
- Calendar Q2 2024: 155.6 Yen per USD
- Calendar Q3 2024: 149.5 Yen per USD
- Calendar This fall 2024: 152.2 Yen per USD
By making use of these change figures to every relevant interval, we successfully get a US-leaning fixed forex image of Sony Music’s efficiency.
This isn’t an ideal system; it dangers overplaying Sony Music Leisure’s world enterprise barely by changing a piece of revenues from Sony Music Leisure Japan (which might often be straight-reported in Yen) into US {dollars}.
Nevertheless it offers us with a cleaner reflection of the efficiency of New York-based Sony Music Leisure outdoors of FX distortion, as a result of the corporate needed to convert its US forex into Yen within the first place for Sony Corp’s outcomes. The identical is true for US-based Sony Music Publishing.
MBW believes this forex change system is the yardstick used internally at Sony Music Group‘s HQ in New York.
Sony’s personal description of its three company music divisions is as follows:
- Recorded Music – Streaming consists of the distribution of digital recorded music by streaming; Recorded Music – Others consists of the distribution of recorded music by bodily media and digital obtain in addition to income derived from artists’ stay performances;
- Music Publishing includes the administration and licensing of the phrases and music of songs;
- Visible Media and Platform consists of the manufacturing and distribution of animation titles, together with sport functions based mostly on the animation titles, and varied service choices for music and visible merchandise.
Inside / overlaying the primary two divisions listed above:
- Sony Music Publishing, run by CEO & Chairman Jon Platt, is Sony’s US-headquartered music publishing operation.
- Sony Music Leisure, run by CEO Rob Stringer, is Sony’s US-headquartered recorded music operation.
- And Sony Music Group – additionally run by Rob Stringer, as Chairman – is Sony’s US-headquartered umbrella group for each Sony Music Leisure and Sony Music Publishing.
Music Enterprise Worldwide
