Sony music revenues soared above $4.5BN in 2020, after huge final quarter of the year

Sony music revenues soared above $4.5BN in 2020, after huge final quarter of the year

BY TIM INGHAM

Sony’s global recorded music operation (Sony Music) saw its annual streaming revenues jump by 19.5%, or nearly half a billion US dollars (+$467m), in calendar 2020.

Those streaming revenues hit $2.87bn in the 12 months, as Sony’s worldwide recorded music revenues – across all formats, licensing etc. – hit $4.51bn, up 8.1% YoY.

After a pandemic-affected wobble in calendar Q2, Sony Music had a much stronger Q3 – the three months to end of September – when its quarterly turnover returned above $1 billion ($1.16bn).

However, there can be no doubting the star quarter of Sony Music’s last year: numbers revealed by Sony Corp today (February 3), analyzed by MBW, show that Sony Music generated $1.36bn in global recorded music revenues in calendar Q4 (Sony’s fiscal Q3), up by 17.5% year-on-year.

Full Story: https://www.musicbusinessworldwide.com/sony-music-revenues-soared-above-4-5bn-in-2020-after-huge-final-quarter-of-the-year/