Sony Music Reports Positive Fiscal Q3
February 9, 2013

Sony Corp. has announced its financial results for the multinational company's fiscal third quarter, which ended December 31. Overall, Sony reported a 10.7 billion yen (or $115 million) loss for the quarter, but this is a major decrease from a year ago, when Sony reported a 158 billion yen loss.

However, Sony Music Entertainment had a positive fiscal Q3, as its sales were up 2.3 percent to 126.4 billion yen (or approximately $1.453 million). This increase was in part attributed to the favorable depreciation of the yen against the dollar and growth in digital revenue, but partially offset by the continued contraction of the physical market. Operating income for Sony Music was also up for the quarter, to 16.4 billion (or $188 million).  Sony's best-selling releases in the quarter included One Directions Take Me Home, P!nks The Truth About Love, Celine Dions Sans Attendre and Alicia Keys Girl On Fire.




 
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Jon Zellner
SVPP, iHeartMedia

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