Sony Music Reports 14% Revenue Growth in Q4 2024

Sony Music Entertainment reported a 14% year-on-year revenue growth for its fiscal Q3 2024, totaling ¥482 billion ($3.15 billion), driven largely by successful releases from artists like ATEEZ and Tyler, the Creator. The company's recorded music segment saw a significant increase of 10% in revenue, reaching ¥315 billion ($2.05 billion), with recorded streaming revenue growing by 12% year-on-year. However, the reported figures included a notable contribution of ¥66 billion from visual media and platform revenues, primarily from mobile gaming. Excluding this, core music operations recorded a more modest growth of 10.2%. Meanwhile, physical music sales continued to decline, dropping 4% to ¥30 billion. Furthermore, Sony's music publishing segment experienced an 11% revenue increase, showcasing resilience despite broader industry concerns about streaming saturation.