Sony’s recorded music revenues jumped by $451m YoY in calendar Q2, as streaming revenues rose 50.2%

Sony Music’s quarterly recorded music revenues rose by an 48.2% year-on-year in calendar Q2 2021 (the three months to finish of June). In truth, they had been up by a large USD $451 million versus the identical interval in 2020.

This enhance got here off the again of an uncharacteristically soft quarter for Sony in calendar Q2 2020, when – hit by the results of the pandemic – it turned over $936 million from recorded music.

But that doesn’t take something away from the energy of Sony’s newest quarter, through which the agency generated $1.39 billion from recorded music.

Calendar Q2 2021 noticed Sony’s recorded music operation generate $996.4 million from streaming alone – an all-time excessive, and brushing the magic billion greenback mark for the primary time.

This recorded music streaming income haul was up by a whopping 50.2% year-on-year, versus the $663.4 million the agency posted in calendar Q2 2020.

These figures arrived immediately (August 4) inside Sony Group Corp’s latest quarterly financial results for calendar Q2 2021 (the corporate’s fiscal Q1).

Sony Music Entertainment‘s largest revenue-generating artist tasks within the quarter globally – excluding Japan – had been, so as:

  • Harry Kinds, Fantastic Line
  • Lil Nas X, numerous singles
  • Polo G, Corridor Of Fame
  • Lil Tjay, Destined 2 Win
  • The Child LAROI, F*ck Love
  • Doja Cat, Planet Her
  • Luke Combs, What You See Is What You Get
  • Doja Cat, Sizzling Pink

Sony Music Publishing logo

Sony’s outcomes additionally reveal how the corporate’s world music publishing operation – together with Sony Music Publishing and Sony Music Publishing Japan – carried out within the newest fiscal quarter.

Sony’s music publishing operation globally generated $430.4 million within the three months to finish of June 2021 – up 48.9% YoY vs. the $289.0 million it generated in calendar Q2 2020.

Of that $430.4 million quarterly publishing income in Q2 2021, streaming generated $215.6m, revealed Sony’s figures immediately.

Mixed, Sony’s world music publishing and recorded music operation generated $1.82 billion in calendar Q2 2021.

(All YoY proportion rises/falls revealed above are calculated on the US dollar-converted degree.)

See beneath for the breakdown of Sony’s quarterly figures in Yen, as revealed by Sony Group Corp immediately.

MBW’s USD calculations are primarily based on Sony’s recalculated gross income figures for every quarter up to now 12 months.

The best way Sony calculates its recorded music streaming figures for the 12 months to finish of June 2021 now sees it rely further gross revenues paid over by streaming platforms, together with a portion of these destined for its companion labels.

Word: MBW has calculated Sony’s financials from Japanese Yen into US {dollars} on the following prevailing trade charges in every quarter, as confirmed by Sony Corp:

  • 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

By making use of these trade 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 Entertainment’s world enterprise barely by changing a bit of revenues from Sony Music Entertainment 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 exterior 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/ATV.

MBW believes this forex trade system is the yardstick used internally at Sony Music Group‘s HQ in New York.Music Enterprise Worldwide

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