×
You will be redirected back to your article in seconds

Sony Recorded Music Revenues Dip in 2018 Earnings Report

As part of Sony’s earnings report for its 2018 fiscal year (which ended on March 31) the company’s music division showed mixed results, with recorded music revenues dropping around 4.5% to 426.9 billion yen ($3.82 billion) and overall revenue up just 1% to 795 billion yen ($7.2 billion). The company attributed the drop to lower physical sales, a change in accounting practices and other one-time items. However, operating income was up 82% to 232.5bn yen (2.8 billion).

Streaming growth seems to be leveling off, with a boost of just 15.3% over the 37% jump of the previous year. Revenue from streaming was up 15.3% to 227.5bn yen ($2.03 billion) Streaming now accounts for 53.3% of recorded music revenues, with physical making up 18.7%, download 8.6% and “other” 19.5%.

The company’s publishing division, Sony/ATV, showed results in Martin Bandier’s final year as chairman, with revenue climbing 43.4% to 106.7 billion yen ($955.4 million), driven by the completion of its acquisition of EMI Music Publishing.

For the fourth quarter, the company’s revenues were up 3%, with recorded music down 4.5%. Streaming revenues for the quarter were up 10.1% over the previous year. Physical music revenues plunged by 33.7%; the previous year they were actually up by 3.2% (around $10 million).

The company’s biggest successes of the year included Travis Scott’s “Astroworld” and projects by Camila Cabello, BTS, Luke Combs, Kane Brown, George Ezra, Calvin Harris and Khalid.

 

More Music

  • Game of Thrones Composer Ramin Djawadi

    'Game of Thrones' Composer Ramin Djawadi: 'I'm Still in Denial'

    Since the first season, Ramin Djawadi has composed the music for “Game of Thrones” and created the epic tunes, including the iconic theme song, heard over the series’ most memorable moments. With the series finished, he talked with Zane Lowe on Apple Music’s Beats 1 about his experience on the show and an upcoming 20-city [...]

  • Howard Stern acknowledges the audience at

    Is Radio's Shock Jock Era Over?

    Once a pillar of radio broadcasts, terrestrial and otherwise, the popularity of shock jocks, like Howard Stern, Opie and Anthony and Bubba the Love Sponge, has withered in recent years. With Stern expressing remorse over his previous airwave antics during the promotion of his just-released book, “Howard Stern Comes Again,” trade site Radio Ink offered [...]

  • TUPAC SHAKUR black panther collection

    ‘Defiant Ones’ Director to Helm Docuseries on Tupac, Who Assaulted Him in 1993

    Director Allen Hughes, who helmed the award-winning HBO documentary “The Defiant Ones,” has closed a deal with Tupac Shakur’s estate for a five-part docuseries for which he will have full access to all of the late rapper’s released and unreleased recordings, writings and poetry, according to an announcement from his rep. The announcement says the [...]

  • Carpool Karaoke with Celine Dion on

    James Corden Gets Celine Dion to Sing 'Baby Shark,' Sail the Vegas Seas (Watch)

    Anyone who has seen Celine Dion’s long-running Las Vegas show knows she plays the comedienne almost as much as chanteuse, with a goofball quality that came in especially handy on a Monday night edition of James Corden’s “Carpool Karaoke.” The 15-minute segment ended with Dion and Corden trading carpooling for ship-pooling and sailing around Las [...]

  • Louis Tomlinson House

    Louis Tomlinson Lists at a Loss in Los Angeles (EXCLUSIVE)

    Former One Direction-er Louis Tomlinson, now a judge on Britain’s “The X Factor,” the very same televised talent show from which he was launched into international teenaged superstardom in 2010, has put his home in a famously celeb-favored neighborhood in the foothills above Hollywood, Calif., up for sale at $6.995 million, a notable amount less [...]

  • Berry Gordy

    Motown, T.I. to Be Honored at ASCAP Rhythm & Soul Awards

    Motown Records and veteran rapper T.I. will be honored at ASCAP’s 32nd annual Rhythm & Soul Music Awards, the company has announced. The awards take place on Thursday, June 20 in Los Angeles. Motown, which was founded by Berry Gordy and is celebrating its 60th anniversary this year, will receive the ASCAP Rhythm & Soul [...]

  • Nashville Producer Michael Knox Spotlights Songwriters

    Michael Knox, Producer for Jason Aldean, Spotlights Music Row's Writers in New Podcast

    Nashville producer and publisher Michael Knox, the man behind the Jason Aldean throne, has started a biweekly “Knox Country Podcast” with a focus on having the songwriters of Music Row tell the stories behind their hits. Shalacy Griffin acts as co-host for the podcast, the outgrowth of a syndicated radio show, “Knox Country 360,” they [...]

More From Our Brands

Access exclusive content