Sony Music Group has announced a significant increase in quarterly sales, reporting a revenue boost of 60 billion yen, reaching a total of 542.4 billion yen ($3.47 billion) for its fiscal third quarter. This growth was primarily fueled by the streaming success of new releases from prominent Spanish-speaking artists, including Rosal�a and Peso Pluma. Operating income also saw a 9% increase, totaling 106.4 billion yen ($681.2 million).
The company has revised its revenue growth expectations upward, projecting an increase of 70 billion yen ($448 million), which represents a 4% rise from previous guidance. This is complemented by an expected operating income growth of 60 billion yen ($384 million), reflecting a 16% upward revision. Streaming revenue continues to play a crucial role in Sony’s financial performance, with Peso Pluma and Tito Double P�s collaborative album Dinast�a emerging as one of the most streamed projects of the quarter.
In terms of recorded music revenue, Sony reported a 13% increase, amounting to 355 billion yen ($2.27 billion). This growth was supported by a remarkable 30% rise in other recorded revenue, which encompasses live events and merchandise sales, totaling 90 billion yen ($576 million). Additionally, revenue generated from vinyl records and other physical music sales experienced a 17% increase, reaching 35 billion yen ($224 million).
The publishing segment also demonstrated strong performance, with revenue climbing 14% to 108 billion yen ($691 million). Revenue from visual media and platforms matched this growth rate, also increasing by 14% to 76 billion yen ($487 million), attributed to the continued success of the Demon Slayer film franchise. Furthermore, adjusted operating income before depreciation and amortization rose by 10% to 133 billion yen ($851 million). The company noted a favorable exchange rate, which resulted in a 5.1 billion yen ($32.7 million) gain due to the conversion of U.S. dollar sales into Japanese yen.