ANOTHER $1B QUARTER FOR SONY
Sony Music had another solid quarter to end the calendar year as streaming revenues were up 21% and overall revenue was up 7.5% to $1.99 billion.
Profit for the music division’s quarter hit $333m.
Recorded music pulled in $1.16b, an 11.4% spike over 2018. Streaming was responsible for $667.7m, representing 58% of Sony’s revenue in the company’s quarter, which ended 12/31. The company’s margins are around 17%.
Top sellers included Harry Styles’ Fine Line, Luke Combs’ What You See Is What You Get and Romance by Camila Cabello.
Apples-to-apples comparisons are difficult to the compute due to accounting adjustments and the consolidation of EMI Publishing. Publishing in the quarter was up 30.8% to $365m, an example of both growth in the business and the accounting of EMI revenues.
The forecast for the full fiscal year, which ends 3/31, is holding at $7.8b for the music unit.
HIPGNOSIS BOARD APPROVES UPPED BLACKSTONE BID
But it ain't over till it's over. (4/29a)
| ||
THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
|
JAMES KING: THE HITS INTERVIEW (PART ONE)
