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Sony generated over $2bn from recorded music and publishing in calendar Q2; recorded music revenues have been up 11.2% YoY

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Sony’s world music rights operation – throughout recorded music and music publishing – generated USD $2.03 billion within the three months to finish of June 2022.

That’s in keeping with MBW’s calculations primarily based on Sony Group Corp’s calendar Q2 (fiscal Q1) 2022 outcomes, as announced by the Japanese agency earlier at present (July 29).

The $2.03 billion determine was up 11.7% year-on-year (vs. calendar Q2 2021) at US dollar-converted fixed forex.

Understanding Sony’s outcomes at a US dollar-converted fixed forex stage is especially essential in calendar Q2 2022, when the power of the greenback vs. the Japanese Yen – the forex wherein Sony stories its outcomes – rose to historic levels.

In financial phrases, Sony’s total music rights operation (recorded music plus music publishing) generated roughly $212 million extra in calendar Q2 2022 than within the prior-year quarter.

[Note: Corporately speaking, Sony Group’s global music operation includes recorded music, plus music publishing, plus ‘Visual Media & Platform’. The final category primarily covers mobile games and animation projects, and has been omitted from the revenue calculations in this analysis.]



Sony’s world recorded music operation generated USD $1.542 billion in calendar Q2 2022 – in keeping with MBW’s calculations – up 11.2% YoY versus the equal quarterly interval of the prior 12 months.

Inside that calendar Q2 2022 world recorded music outcome, streaming generated $1.075 billion, up 7.9% YoY.

(This ‘streaming’ quantity covers each subscription and ad-funded streaming revenues generated by Sony’s world recorded music operation.)

Sony noticed YoY positive factors in quarterly revenues for bodily music gross sales (+$8m YoY to $198m) and for its ‘Different’ fiscal class inside recorded music (+$71m YoY to $211m).

The latter class (‘Different’) consists of license income (public efficiency, broadcast and sync), merchandising and stay efficiency earnings.

In financial phrases, Sony’s world recorded music operation generated roughly $155 million extra in calendar Q2 2022 than within the prior-year quarter.



Based on Sony Corp‘s outcomes, Sony Music Entertainment‘s ten largest recorded music initiatives within the calendar Q2 2022 quarter (ex-Japan), so as of worldwide income era, have been:

  1. Harry Types, Harry’s Home
  2. Future, I NEVER LIKED YOU
  3. Doja Cat, Planet Her
  4. Lil Durk, 7220
  5. Lil Nas X, MONTERO
  6. Harry Types, Advantageous Line
  7. Tyler, The Creator, CALL ME IF YOU GET LOST
  8. The Child LAROI, F*CK LOVE 3+: OVER YOU
  9. Camila Cabello, Familia
  10. TOOL, Concern Inoculum

Sony’s world music publishing operation – led by Sony Music Publishing – generated $487.3 million within the three months to finish of June this 12 months.

That quarterly income determine, on the US greenback stage, was up 13.2% year-on-year.

Sony’s world music publishing operation derived $258.3 million of its quarterly revenues within the calendar Q2 2022 interval from streaming.

That streaming determine was up 19.8% year-on-year.



Sony Corp additionally at present issued some revenue numbers for its company Music division within the three months to finish of June 2022.

(The next figures embrace Sony’s operations throughout Recorded Music, Music Publishing plus Visible Media & Platform. Sony doesn’t get away earnings for its company Music division in the identical manner it does income, so for divisional working earnings VM&P can’t be extracted/omitted.)

In calendar Q2 2022, Sony’s company Music division posted a quarterly working earnings of 60.97 billion Yen (USD $471m).

That represented an working margin of 19.8%, from whole divisional quarterly revenues of 308.07 billion Yen (USD $2.38bn.)



Be aware: All YoY proportion rises/falls revealed on this story are calculated at fixed forex on the US dollar-converted stage. MBW makes use of Sony’s personal quarterly common forex charges for these calculations.

See beneath for the breakdown of Sony’s newest (fiscal) quarterly figures for music in Japanese Yen, as revealed by Sony Group Corp at present.



For this evaluation, MBW has calculated Sony’s financials from Japanese Yen into US {dollars} on the following prevailing trade charges in every quarter, as confirmed by Sony Corp:

  • Calendar Q1 2020: 109.0 Yen per USD
  • Calendar Q2 2020: 107.6 Yen per USD
  • Calendar Q3 2020: 106.2 Yen per USD
  • Calendar This fall 2020: 104.5 Yen per USD
  • Calendar Q1 2021: 105.9 Yen per USD
  • Calendar Q2 2021: 109.5 Yen per USD
  • Calendar Q3 2021: 110.1 Yen per USD
  • Calendar This fall 2021: 113.7 Yen per USD
  • Calendar Q1 2022: 116.1 Yen per USD
  • Calendar Q2 2022: 129.4 Yen per USD

By making use of these trade figures to every relevant interval, we successfully get a US-leaning fixed forex image of Sony Music’s efficiency.

This isn’t an ideal system; it dangers overplaying Sony Music Entertainment’s world enterprise barely by changing a piece of revenues from Sony Music Entertainment Japan (which might often be straight-reported in Yen) into US {dollars}.

But it surely supplies us with a cleaner reflection of the efficiency of New York-based Sony Music Leisure exterior of FX distortion, as a result of the corporate needed to convert its US forex into Yen within the first place for Sony Corp’s outcomes. The identical is true for US-based Sony Music Publishing.

MBW believes this forex trade system is the yardstick used internally at Sony Music Group‘s HQ in New York.

(Fiscal Yr Yen-to-USD conversions have been made at 112.3 common annual price as supplied by Sony Group Corp.)


Sony’s personal description of its three company music divisions is as follows:

  • Recorded Music – Streaming consists of the distribution of digital recorded music by streaming; Recorded Music – Others consists of the distribution of recorded music by bodily media and digital obtain in addition to income derived from artists’ stay performances;
  • Music Publishing includes the administration and licensing of the phrases and music of songs;
  • Visible Media and Platform consists of the manufacturing and distribution of animation titles, together with sport purposes primarily based on the animation titles, and varied service choices for music and visible merchandise.

Inside / masking the primary two divisions listed above:

  • Sony Music Publishing, run by CEO & Chairman Jon Platt, is Sony’s US-headquartered music publishing operation.
  • Sony Music Entertainment, run by CEO Rob Stringer, is Sony’s US-headquartered recorded music operation.
  • And Sony Music Group – additionally run by Rob Stringer, as Chairman – is Sony’s US-headquartered umbrella group for each Sony Music Leisure and Sony Music Publishing.

Music Enterprise Worldwide

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