Sony Music reported strong financial performance in Q3 2024, with overall revenue reaching $2.91 billion, representing an 11.18% year-over-year increase. Excluding visual media and platform segments, core music revenue grew 13.46% to $2.50 billion.

Key Financial Highlights:

• Recorded music streaming revenue: $1.24 billion (+8.98% YoY)
• Physical sales revenue: $167.07 million (+22.26% YoY)
• Publishing revenue: $600.63 million (+10.65% YoY)
• Operating income: $592.21 million (+11.56% YoY)

Top Revenue-Generating Releases:

1. SZA - SOS (2022)
2. David Gilmour - Luck and Strange (2024)
3. Travis Scott - Utopia (2023)
4. Future and Metro Boomin - We Don't Trust You (2024)
5. Beyoncé - Cowboy Carter (2024)
6. Harry Styles - Harry's House (2022)

Notable market insights include a 73% catalog consumption rate in the U.S. recorded music market, representing tracks over 18 months old. The company is exploring additional revenue streams through NIL rights, merchandising, and experiential live events.

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