Sony Music Shrugs Off Pandemic, Reports 5.3% Revenue Gains in Second Quarter

After a fiscal first quarter revenue downturn, Sony Corp.’s music operations shrugged off the pandemic-casing economic downturn and rebounded in the company’s fiscal second quarter ended Sept. 30, with revenue growing 5.3% to 230.8 billion yen from 219.3 billion yen , mainly thanks to streaming.

As a percentage of recorded music, that segment now stands at 7.7%, versus last year when it accounted for 14.5%. However, operating income still jumped 15.8% to 87.84 billion yen versus the first half of 2019 when that measurement was 75.76 billion yen , Consequently gross margin — operating income as a percentage of revenue — for the six months ended Sept. 30 improved to 21.8% from 18.8% recorded for 2019’s first half. generated revenue of 221.41 billion yen , a 1.2% decline from the 224.2 billion yen garnered in the first half of 2019. It now accounts for 55.

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