Sony Music has proclaimed a robust start to 2018. According to a release by Sony Corp, Sony’s recorded music revenues hit US $1.93 billion in the first six months of 2018 up by 11.3% from the same period in 2017. This also means Sony raked in an additional $200 million in the last 12 months.
Streaming revenue in the six months to June 30 reached $943 million, up by 39,1% from the first six months of 2017. In comparison, Universal Music Group’s streaming revenue in the first half of 2018 grew 34.3% to $1.44 billion.
Figures for Q2 (three months to end of June), Sony’s revenues stood at $914.2 million. This marked a 1.7% upward push year-on-year but not as strong as the two previous quarters.
Physical music sales dropped by 31.5% to $206.8 million while downloads slipped by 17.6% to $97.8 million.
The three biggest selling records of the quarter have been Japanese acts, all-girl band Nogizaka46, Japanese-American singer-songwriter Utada Hikaru and Japanese Idol girl crew Keyakizaka46’.
Camila Cabello’s Camila followed at number 4 with Dave Matthews Band’s Come Tomorrow at 5 and sturdy income coming in from George Ezra, P!nk and Calvin Harris.
Publishing income in the three months rose by 29.7% to $196.7 million.
The acquisition of the Jackson’s estate’s share in EMI Music Publishing was for $287.5 million.
At the same time, Sony also bought the remaining stake of Michael Jackson’s share in EMI Music Publishing thereby asserting its dominance in the marketplace.
Sony Corp has already reached an agreement to acquire a controlling stake in EMI Music Publishing for $2.3 billion from the Abu Dhabi-based Mubadala Investment Company.