Sony Music reported significant financial growth in Q3 2024, with overall revenue reaching $2.91 billion, marking an 11.18% year-over-year increase. The company's core music operations, excluding visual media and platform segments, generated $2.50 billion, up 13.46% from the previous year.

Key Financial Highlights:

• Recorded music streaming revenue: $1.24 billion (8.98% increase)
• Physical sales revenue: $167.07 million (22.26% increase)
• Publishing revenue: $600.63 million (10.65% increase)
• Operating income: $592.21 million (11.56% increase)

Top Revenue-Generating Releases:

1. SZA - SOS (2022)
2. David Gilmour - Luck and Strange (2024)
3. Travis Scott - Utopia (2023)
4. Future and Metro Boomin - We Don't Trust You (2024)
5. Beyoncé - Cowboy Carter (2024)
6. Harry Styles - Harry's House (2022)

Notable insights:

• U.S. recorded music market shows 73% catalog consumption rate
• Company plans to expand into NIL rights monetization through merchandising and live events
• Publishing streaming revenue reached $347 million (9.28% increase)

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