According to the latest financial statistics, Sony Music is experiencing massive growth in streaming revenue. Sony’s recorded music division earned over $1 billion in the three months running up to September. It’s a watershed moment for the music company, experiencing these new highs for the first time.
In the second quarter of 2021, Sony Music’s recorded music revenues increased by 48.2 per cent. When compared to the same period in 2020, this staggering rise amounts to $451 million. Furthermore, the record label’s overall revenue in the second quarter was $1.39 billion, with $995.4 million coming from streaming.
The live music industry in the United Kingdom should be back to pre-Coronavirus levels of revenue by 2025. The 19th of July is the date when live music will officially get back underway, and a slew of performances will likely follow after the limitations are no longer. Furthermore, revenues will