.LilNasX Effect: Sony's recorded music sales top $1 billion as streaming revenues climb
For the fiscal quarter ended June 30, Sony Music operations -- which includes Sony Music Entertainment, Sony/ATV, Sony Japan and the mobile-game dominated Visual Media/Platform -- reported 38.3 billion yen in operating income, a 19% rise on the same period the previous year.
Sony attributed the strong growth to a 27% rise in streaming revenues, which lifted recorded music sales to 111.9 billion yen , up 11% on the previous year. Music publishing revenues meanwhile climbed by over 80% year-on-year to 39.3 billion yen as a result of the consolidation of EMI Music Publishing .
Meanwhile, digital sales grew to 75.2 billion yen , driven primarily by 27% growth in streaming revenues, which totaled 66.5 billion yen in quarter one. By comparison, streaming sales in the first quarter of 2018 were 52.2 billion yen .
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