Another big year of streaming revenue growth for Sony

Sony logo canvasSony Music Entertainment is seeing growth not just in its overall financial performance, but also in the bottom-line contributions from streaming. The company took in 40.65 billion yen ($372 million) from streaming in the fourth quarter of 2016 and 134.83 billion yen ($1.24 billion) for the whole fiscal year. The quarterly total for 2016 was up 30.3% over the same period of 2015.

Physical sales are still holding a majority share of Sony Music’s business, but by a small margin. The full-year revenue for CDs and vinyl totaled 137.23 billion yen ($1.26 billion), just 1.8% more than the total for streaming. The share for downloads has been plummetting, landing at less than a fifth of Sony’s recorded music revenue with 65.62 billion yen ($605 million).

Anna Washenko