Sony Music Revenue Surges 14% in Q4 2024, While Streaming Growth Shows Signs of Cooling
Sony Music Entertainment reported strong financial performance in Q4 2024, with total revenue reaching $3.11 billion, marking a 14.2% year-over-year increase.
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Key Financial Highlights:
- Core music operations (recorded and publishing): $2.69 billion (+10.2% YoY)
- Streaming revenue: $1.37 billion (+12.4% YoY)
- Publishing revenue: $624.17 million (+10.7% YoY)
- Overall profit: $637.67 million (+28% YoY)
Top Revenue-Generating Projects Q4 2024:
- Ateez - Golden Hour: Part.2
- Tyler, The Creator - Chromakopia
- SZA - SOS
- Rod Wave - Last Lap
- Mylène Farmer - Nevermore
Notable Trends:
- Physical format sales declined 4.1% to $197.93 million
- Digital downloads continued declining, down 26.4% to $42.14 million
- Streaming growth showed signs of moderation, with 9% YoY increase in USD terms
- Exchange rate fluctuations contributed to approximately 20% of overall revenue growth
Looking Forward: Sony Music has increased its revenue forecast by $327.24 million for the fiscal year ending March 31st, 2025, primarily due to expected exchange rate benefits and the integration of ePlus ticketing service.
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