Sony’s music business, which includes recorded music and music publishing, generated revenue of $2.5 billion in the first quarter of 2024, an increase of 14.7% from the same quarter in 2023.
Compared with the same period in 2023, Sony’s overall music copyright business grew by US$321.4 million in the first quarter of 2024.
In the first quarter of 2024, Sony’s recorded music sales were US$1.94 billion, an increase of 15.5% compared with the same quarter of 2023.
In the first quarter of 2024, streaming services generated $1.24 billion in revenue for Sony’s recorded music business, an increase of 10.6% from the same quarter in 2023.
Sales of physical music CDs and albums in the first quarter of 2024 were US$161.7 million, a decrease of 24.7% from the same quarter in 2023.
Compared with the same period in 2023, other sources of revenue from Sony’s recorded music (such as licensing fees and merchandise sales) increased by 71.3% in the first quarter of 2024, reaching $476.6 million.
The top 10 artists (excluding Japanese artists) on Sony Music’s music business for the first quarter of 2024 are SZA, Travis Scott, 21 Savage, Beyoncé, Bad Bunny (twice), Peso Pluma, Tate McRae, Justin Timberlake and Harry Styles .
