Sony Music Revenue Surges 14% in Q4 2024, Despite Slowing Streaming Growth
Sony Music Entertainment reported strong financial performance in Q4 2024, with total music operations reaching $3.11 billion, marking a 14.2% year-over-year increase.
Core recorded and publishing operations generated $2.69 billion (excluding visual media and platform revenue), representing a 10.2% increase from the previous year.
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Key Financial Highlights:
- Recorded streaming revenue: $1.37 billion (12.4% YoY increase)
- Publishing revenue: $624.17 million (10.7% YoY increase)
- Overall music profit: $637.67 million (28% YoY increase)
Notable Performance Metrics:
- Streaming revenue grew 9% YoY on a U.S. dollar basis
- Digital downloads declined 26.4% to $42.14 million
- Physical format sales decreased 4.1% to $197.93 million
Top Revenue-Generating Projects Q4 2024:
- Ateez - Golden Hour: Part.2
- Tyler, The Creator - Chromakopia
- SZA - SOS
- Rod Wave - Last Lap
- Mylène Farmer - Nevermore
Looking forward, Sony Music has increased its revenue forecast by $327.24 million for the fiscal year ending March 31st, 2025, primarily due to favorable exchange rates and the integration of ePlus ticketing service.
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