Sony has reported its earnings for its fiscal year ending March 31, and streaming helped bolster growth for the company’s music division. Overall, Sony Music saw a 12% increase in revenue to $4.03 billion. Streaming revenue spiked more than 37% on-year to $1.8 billion, making it more than 44% of the music division’s total revenue.
Physical sales also rose for the company, reaching a total of $1.2 billion. Sony’s home country of Japan is still a hot market for CDs, but the company did not break down specifics of where the growth for physical format revenue happened. Download revenue for Sony followed the current international trends; it declined 18% to about $450 million.