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.
Sony Music Germany has announced a new stake in Tiger Media International GmbH. It will enable Sony to expand in the domains of children’s entertainment, and the new investment will aid their long-term strategic plans. Sony Music Germany’s Patrick Mushatsi-Kareba said: “Together, we are developing a direct-to-consumer business channel which
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.
Relative Music Group and Sony Music Publishing in Nashville have agreed to work together. Rusty Gaston, SEO of Sony Music Publishing Nashville, commented about the new deal: “Relative Music Group has done an incredible job of championing songwriters with an independent spirit that embodies everything that makes Music Row special.