Sony Music Turns A Profit In Fiscal 2013
May 9, 2013

Sony Corp. has reported its fiscal fourth quarter results, and the Japanese electronics giant has turned a $948 million profit in Q4, thanks to a weakened yen helping its overseas earnings. After four straight years of reporting a loss, Sony also turned a profit for the full fiscal year (which ended March 31), reporting $434 million in earnings. This was a major jump from its previous fiscal year loss of $5.7 billion.

The Sony Music division turned an profit in the company's fiscal 2013 as well, reporting $396 million in operating profit. Sales for Sony Music were essentially flat, down by 0.2 percent to $4.69 billion. The slight decline was attributed to "continued worldwide contraction of the physical music market and the impact of a larger number of successful releases in Japan in the previous fiscal year, offset by the favorable impact of the depreciation of the yen against the U.S. dollar, and growth in digital revenue."

Sony's best selling titles during its fiscal year included One Direction’s Take Me Home and Up All Night, P!nk’s The Truth About Love and Justin Timberlake’s The 20/20 Experience.

In a statement, Sony added that, "Although the physical music market is expected to continue its worldwide contraction, sales are expected to increase primarily due to the year-on-year depreciation of the yen in the assumed foreign exchange rates and an increase in digital revenue. Operating income is expected to increase slightly due to the above-mentioned reasons for the increase in sales."




 
Breaking News
Pandora Revenue, Listenership Rises In Q1
In Brief - April 29, 2016
April 28, 2016
SiriusXM Reports First Quarter 2016 Results
CMG Tulsa Names Nathan Reed Director of Branding & Programming at KRAV-FM
Cumulus Media Shreveport Ups Julie Kansy to PD at KQHN
ASCAP Revenue Tops $1 Billion For Second Straight Year
April 27, 2016
Blaire Galaton-Kelleher Joins “The Jack Diamond Morning Show” On WRQX/Washington, D.C
Premiere Networks To Provide Distribution For Aiir
Radio Milwaukee Names Glenn Kleiman Executive Director
In Brief - April 27, 2016
April 26, 2016
CBS Radio Las Vegas Promotes JB King to Operations Manager
KLUC/Las Vegas Taps John Moug As New Afternoon Drive Host
Donna Gryn Promoted to VP of Marketing at Republic Records
KIIS FM/Los Angeles Announces Artists Performing At Wango Tango Pre-Show Village
In Brief - April 26, 2016
April 25, 2016
KROQ/Los Angeles Annouces Weanie Roast 2016
Kristie McIntyre Returns To D.C. Airwaves For Nights On WRQX
Karen Mateo Exits Her Post at CBS Radio
Beasley Las Vegas Names Mark Sturcken Director Of Sales
April 22, 2016
eQB NOW
Radio Pays Tribute To The Musical Legacy of Prince
Hubbard Radio Elevates Jeremy Sinon To Director of Digital Strategy
In Brief - April 22, 2016
April 21, 2016
Music Icon Prince Has Passed Away
Music News
FMQB Photo Pass: Pearl Jam
Blink-182 Announce Album, Tour With Matt Skiba
Drake Expands Tour, Reveals Tracklist For Views
Quick Hits: Demi Lovato & Joe Jonas, Cash Cash, Whitney Houston, Deftones' Chino Moreno
Quick Hits: Justin Bieber, Lady Gaga & Elton John, Prince, Thrival Festival, B.o.B
Quick Hits: Bumbershoot Festival, Fetty Wap, HARD Summer, Jenny Lewis, Bayside
Prince Returns To The Top Of The Billboard 200
Drake Announces Summer Sixteen Tour, OVO Fest
Quick Hits: Billboard Music Awards, Guns N' Roses, Tegan and Sara, Twin Peaks, Jennifer Hudson, Billy Paul
Beyoncé Releases New Album Lemonade Via Tidal
Tributes Continue To Pour In For Prince
Entertainment World Reacts to Sudden Loss of Prince
Quick Hits: Mumford & Sons, P!nk, Beyoncé, Mariah Carey
Meghan Trainor Announces Untouchable Tour
AC/DC's Brian Johnson Releases Statement
FMQB NOW

Nick Petropoulos
Head of Promotion
Glassnote Music

    Question Of
      The Week

Advertisement:
Search FMQB.com
Advertisements:
FMQB Member Login
Email:
Pass:

Save
Not a member yet?
Sign up Now!
Sign Up for Breaking News!
Enter FMQB E-Tracking!