Sony Music Roars Back with $1.82B in Quarterly Revenue
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Bulletin YOUR DAILY ENTERTAINMENT NEWS UPDATE AUGUST 4, 2021 Page 1 of 27 INSIDE Sony Music Roars Back With $1.82B • Live Nation in Quarterly Revenue Revenue Up 677% as Concerts Come Back BY ED CHRISTMAN • DaBaby ‘Levitating’ Sony’s music operations galloped to an explosive 54% the profit measurement for the quarter over the same Remix Yanked by gain in revenue in the the company’s first fiscal quar- period of 2020. Radio Programmers After Homophobic ter ended June 30, growing to nearly 199 billion yen Streaming growth continues to be the driving force in Remarks ($1.82 billion) as compared to the pandemic-scarred overall growth for both recorded music and music pub- fiscal first quarter of the prior year, when revenue lishing, as the format grew 60.3% to a combined total of • Sony Music totaled 129.2 billion yen ($1.2 billion). 132.7 billion yen ($1.2 billion), as compared to 2020 when Publishing Announces Global Sony’s music operations include Sony Music En- recorded music and music publishing streaming revenue Deal With Olivia tertainment, Sony Music Publishing and Sony Japan. combined for 82.6 billion yen ($769.6 million). Rodrigo When the company’s visual media/platform opera- Sony cited hit titles like Harry Styles’ “Fine Line”; tion, which includes mobile gaming and other income the Lil Nas X singles “Sun Goes Down” and “Montero • New York City to Require Proof streams, is added in, overall music revenues — as (Call Me By Your Name)”; Polo G’s Hall of Fame; Lil of Vaccination for categorized by Sony Corp. — totaled 252.2 billion yen Tjay’s Destined 2 Win; The Kid LAROI’s F*CK LOVE; Indoor Concerts ($2.3 billion) for the quarter, versus 173.7 billion yen Doja Cat’s Planet Her and Hot Pink; KANG DAN- Beginning in ($1.6 billion) in 2020, or a 45.2% increase. IEL’s YELLOW; DJ Khaled’s KHALED KHALED; and September Equally as impressive, operating income grew by Luke Combs’ What You See Is What You Get, among • DaBaby Was 55.4% to 55.4 billion yen ($505.8 million) from the others, as driving revenue during the quarter. Dropped by Working 35.64 billion yen ($331.2 million) garnered in the first Breaking out revenue by music operation: Families Party Before fiscal quarter of 2020. That translates into an operat- —Recorded music generated 151.9 billion yen ($1.39 Other Concerts ing margin of 22%, a significant improvement from the billion) in the first quarter, a nearly 55% increase over Followed Suit 20.5% of revenue recorded in the year earlier period. the first quarter of 2020 (98.1 billion yen, or $911.6 Moreover, without last year’s one-time gain of 7.2 bil- million). That translates into 76.3% of music opera- lion yen ($66.9 million) from the sale of a portion of tions, excluding the visual media/platform, up from • BILLBOARD 200 shares of Pledis, a Korean label, this quarter’s operat- 75.9% in the year earlier period. CLICK ing income would mark a whopping 94.8% growth in (continued) TOTAL IMMERSION ESSENTIAL ANALYSIS of the latest business topics and trends formulated to give industry players the competitive advantage in a rapidly changing market. EXCLUSIVE QUARTERLY REPORTS that deliver in-depth, holistic reporting; case studies; and custom data designed to serve the industry. A DEEP DIVE LIBRARY stocked with intelligence on fan data, SUBSCRIBE TO BILLBOARD PRO FOR song catalog sales, TV synchs, Africa’s burgeoning music ACCESS TO NEW REPORTS business and the gaming industry’s embrace of artists. AND THE ARCHIVE ALIVE LET IT RAIN (IS THERE ANYBODY) STAND IN YOUR LOVE TOGETHER SONG OF THE YEAR Jason Ingram Ed Cash Ethan Hulse Kirk Franklin Jonathan Smith Capitol CMG Publishing Rita Springer Ran Jackson Way Maker Zach Williams Be Essential Songs Ricky Jackson Anthems of Hope NOBODY Capitol CMG Publishing Josh Kerr Sinach Be Essential Songs Mark Hall EGH Music Publishing Luke Smallbone Capitol CMG Publishing Wisteria Drive Music Bernie Herms Gateway Create Publishing Be Essential Songs Avex USA obo Xeva Music Map Catalogs BNA Bangers BELIEVER Be Essential Songs Curb Dayspring Music Mitch Wong (APRA) BMG Platinum Songs US SYMPHONY Heavenly Junkie Music SONGWRITER OF Capitol CMG Publishing My Refuge Music Dillon Chase Kilns Music THE YEAR Integrity’s Praise! 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RESCUE STORY Cody Carnes Ethan Hulse Steven Furtick YES I WILL DEAD MAN WALKING Andrew Ripp Kari Jobe Mia Fieldes (APRA) PUBLISHER OF Jordan Sapp Jonathan Smith Be Essential Songs Jonathan Smith THE YEAR Capitol CMG Publishing Zach Williams Capitol CMG Publishing Be Essential Songs Songs by JSAPP Anthems of Hope Kari Jobe Carnes Music Upside Down Under Capitol CMG Publishing Be Essential Songs Music By Elevation Worship Publishing FEAR NO MORE Cashagamble Jet Music Worship Together Music YOU ARE LOVED Believer Blake NeeSmith EGH Music Publishing Writer’s Roof Publishing Sheri Easter Burn the Ships Jason Roy Songs By Fishbone Marcia Henry Dead Man Walking Fear No More Publishing Wisteria Drive Music THE FATHER’S HOUSE Capitol CMG Publishing God’s Not Done With You Harper and Hudson Ben Hastings (APRA) She Loved Music House of Emack Music RIVER Ethan Hulse Sunset Gallery Music Holy Water Map Catalogs Dave Clark Be Essential Songs Let It Rain (Is There Anybody) Moon and Musky Music Karen Peck Capitol CMG Publishing See a Victory Christian Taylor Music EGH Music Publishing Stand In Your Love GOD’S NOT DONE WITH YOU ClearBox Benefit Shout MP Brio Bernie Herms Karen Peck Music The Blessing Tauren Wells Map Catalogs THE GOD I SERVE The Father’s House Be Essential Songs Shakertown Road Music Sonya Isaacs CELEBRATE WITH US! Way Maker Crucialworks Entertainment Rebecca Isaacs Bowman bmi.com/christian2021 You Are Loved G650 Music SEE A VICTORY Karen Peck Pure Note Music Chris Brown Jimmy Yeary Songs of Universal, Inc. Ben Fielding (APRA) Beattyville Music Steven Furtick BMG Platinum Songs US GOING THERE Jason Ingram Christian Taylor Music Lee Black Be Essential Songs ClearBox Benefit Scott Inman Capitol CMG Publishing EMI-Blackwood Music, Inc. MUSIC MOVES Christian Taylor Music Music By Elevation Worship Publishing Karen Peck Music ClearBox Benefit Shout MP Brio Makem Smile Music Sunset Gallery Music R. I. Bowman Music OUR WORLD SOMETIMES IT’S THE RADIO HOLY WATER Joseph Habedank THE GOD WHO STAYS Ed Cash Jimmy Yeary Jonathan Smith Franni Cash Cain Cedar Church Music Be Essential Songs Martin Cash Christian Taylor Music Cashagamble Jet Music Scott Cash ClearBox Benefit Capitol CMG Publishing Sony/ATV Tree We The Kingdom Music Page 3 of 27 IN BRIEF —Music publishing, which includes Sony enue, that breaks out to streaming at 71.8%; yen to $1 for the fiscal quarter ended June 30, Music Publishing and Sony Japan’s publish- downloads at 4.5%; physical at 13.7%; and 2021; and 107.6 yen to $1 for the fiscal quarter ing operations, garnered 47.1 billion yen other revenue at 10%. In the prior year’s ended June 30, 2020. ($430.4 million), a 51.6% increase over the fiscal first quarter, those percentages were 31.1 billion yen ($289 million) tallied in the streaming at 70.2%; downloads at 7.8%; year earlier period. As a percentage of music physical at 12.9%; and other at 9.1%. Live Nation operations, again excluding visual media/ Within music publishing: platform, that equals 23.7% in the first quar- —Streaming revenue reached 23.6 billion Revenue Up ter of this year, versus 24.1% in 2020’s first yen ($215.6 million), up 69.8% from 13.9 bil- quarter. lion yen ($129.2 million) 677% as Concerts Looking at the recorded music operation —Other income totaled 23.5 billion ($214.8 for the first fiscal quarter of 2021: million), a nearly 37% increase over the Come Back —Streaming revenue grew 58.4% to 109.1 prior corresponding period’s 17.2 billion yen billion yen (996.5 million) from 68.9 billion ($159.8 million) BY GLENN PEOPLES yen ($640.3 million) As a percentage of publishing revenue, —Downloads fell 11.1% to 6.8 billion yen that breaks out to an almost 50/50 split or the period of April 1 to July ($61.7 billion) from 7.6 billion yen ($70.7 versus the year earlier period, when the 1, Live Nation rocketed past its million) ratio ran 44.7% streaming and 55.3% other. performance in the early days of —Overall digital revenue totaled 115.9 billion The company also reported that its music COVID-19 with a 677.2% increase yen ($1.06 billion) versus 76.5 billion yen publishing catalog now encompasses 5.03 Fin revenue the prior-year period and a 98.2% ($711.1 million), an increase of 51.4% million songs, up from 4.86 million. improvement from the first quarter, accord- —Physical sales grew 63.8% to 20.8 billion Looking ahead, Sony Corp. has adjusted ing to the company’s second quarter 2021 yen ($189.8 million) from 12.7 billion yen its forecast for the overall music segment, earnings report released Tuesday (Aug.