Sony Music Group has published its results from the first quarter of its fiscal 2019. Total sales revenue grew 11% for the period to 202.3 billion yen ($1.86 billion) and recorded music sales also rose 11% to 111.9 billion yen ($1 billion). Operating income grew 19% to reach 38.3 billion yen ($352.7 million) across its music operations.
Sony said a 27% spike in streaming revenue helped bolster the strong start to fiscal 2019. Streaming revenue contributed 66.5 billion yen ($612 million) of the 75.2 billion yen ($693 million) in digital revenue reported at the music major.
Music publishing revenue grew 80% on-year to 39.3 billion yen ($362 million).
The label’s big performer was the viral hit “Old Town Road” by Lil Nas X, along with big results for the albums Hurts 2B Human by Pink, Western Stars by Bruce Springsteen, and Father of Asahd by DJ Khalid.
Sony recently announced that it is merging its recorded music and publishing divisions into a single banner. Sony Music Group is led by long-time exec Rob Stringer and this is the first financial report under the restructured division.