Streaming Revenues Lead the Way in Sony Music’s Strong Q3

Sony Music has revealed record-high quarterly results for the months July through September (calendar Q3, fiscal Q2) off the back of rising streaming income and the success of the _Demon Slayer_ anime series.

Sony Music Q3 topline results:

• Overall sales rose by 21% YoY to ¥542.4 billion ($3.65 billion).

• Operating income rose by 28% YoY to ¥115.4 billion ($776 million).

• Adjusted OIBDA jumped 25% to ¥140 billion on increased revenue.

• Streaming revenues increased 12% YoY in Recorded Music and 25% in Music Publishing.

• Recorded Music increased 10.5% to ¥321 billion ($2.16 billion).

• Physical grew 7% to ¥27 billion.

• Music publishing increased 16% to ¥106 billion ($712.7 million).

• Visual Media & Platform leapt 70% to ¥106 billion ($712.7 million), largely off the back of Demon Slayer.

• Sony raised its full year sales forecast for the music segment by 6% to ¥1.98 trillion ($13.3 billion), and the operating income forecast by 7% to ¥385 billion ($2.6 billion).

• All figures are based on exchange rates at September 30.

Biggest sellers:

• Bruce Springsteen’s Tracks II: The Lost Albums was the biggest recorded music project of the quarter, followed by SZA’s SOS, Tyler, the Creator’s DON’T TAP THE GLASS, Bad Bunny’s Debí Tirar Más Fotos and Tate McRae’s So Close To What.