×
You will be redirected back to your article in seconds

EMI Publishing Deal Boosts Sony’s 2018 Music Revenue Projections

As part of the Sony Corporation earnings report for the second fiscal quarter of 2018, the music division reported revenues down around 1% to 203.9 billion yen (around $1.83 billion), with recorded-music down 3% and physical sales down 26%. The upside is that streaming was up around 8% for the quarter and up 20% for the first six months of the fiscal year. Operating income margins are about 16.5%.

For the year, Sony Corporation is forecasting music revenues of 820 billion yen ($7.3 billion), which it has revised up after the company’s acquisition of EMI Music Publishing, a transaction that was recently approved by the European Union and is expected to close by the end of the year. The deal led the company to move up its estimate 8% or 60 billion yen ($529.2 million).

Also during that six-month period, overall music segment revenues are up 3%, recorded music is down 2% and physical is down 30%. For the quarter profits showed a 3% decline but were up 11% for the six months — a source close to the situation said that figure would be higher but for expenses related to the EMI valuation. The company also said that the impact of exchange rates and new accounting standards, along with the dip in physical sales, played a role the revenue and profit declines.

Big sellers in the quarter included Travis Scott (pictured above), Luke Combs, George Ezra, Camila Cabello and Calvin Harris. Big releases projected for later in the year include new albums by Barbra Streisand, Little Mix, Olly Murs and a Springsteen Broadway record.

More Music

  • Ludwig Goransson Black Panther Composer

    Complete Guide to This Year's Oscar-Nominated Scores

    Unlike the song category, it’s impossible to predict the winner from this year’s quintet of original-score nominees. It’s almost anyone’s game. Swedish composer Ludwig Göransson spent a month in Africa recording unusual drums, flutes and vocals, then adding them to a massive London orchestra and choir to create a unique soundscape for the fictional land [...]

  • Oscars Best Song Nominees

    Complete Guide to This Year's Oscar-Nominated Songs

    This year’s crop of Oscar-nominated songs may be the most diverse in years: a ballad and a pop-rap from two of the year’s biggest films, plus a delicate lullaby from a Disney musical, a political themed anthem, and a novelty tune for singing cowboys. “Shallow,” the top-10 hit from “A Star Is Born,” is widely [...]

  • Bebe Rexha

    Bebe Rexha Drops New Single, 'Last Hurrah' (Listen)

    Bebe Rexha is back with her first single of 2019 — “Last Hurrah.” The Andrew Wells-produced track is Rexha’s first solo single since 2018’s “I’m a Mess,” which appeared on her debut album “Expectations” alongside the Grammy nominated “Meant to Be.” Inspired by some chocolate cake and a story about her friend, Rexha says the single [...]

More From Our Brands

Access exclusive content