Sony’s music business – across recorded music and music publishing – made $2.5 billion in the first quarter of 2024, which is a 14.7 percent increase from the same quarter in 2023. This information is based on Sony’s financial report for the first quarter of 2024.
Sony’s overall music rights operation grew by $321.4 million in the first quarter of 2024 compared to the same quarter in 2023.
Sony’s recorded music sales were $1.94 billion in the first quarter of 2024, a 15.5 percent increase from the same quarter in 2023.
Streaming services generated $1.24 billion for Sony’s recorded music business in the first quarter of 2024, which is a 10.6 percent increase from the same quarter in 2023.
Sales of physical music CDs and albums were $161.7 million in the first quarter of 2024, a decrease of 24.7 percent from the same quarter in 2023.
Other revenue sources for Sony’s recorded music, such as licensing fees and merchandise sales, increased by 71.3 percent to $476.6 million in the first quarter of 2024 compared to the same quarter in 2023.
The top 10 artists for Sony’s recorded music business in the first quarter of 2024 (not including Japanese artists) were SZA, Travis Scott, 21 Savage, Beyoncé, Bad Bunny (twice), Peso Pluma, Tate McRae, Justin Timberlake, and Harry Styles.
