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 Directionís Take Me Home and Up All Night, P!nkís The Truth About Love and Justin Timberlakeís 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
eQB NOW
The Week In Review: 5/25-5/29
Marketron Executes The First-Ever Real Time Programmatic Spot Buy For Radio
Alpha Media Names Stefan Brock Corporate VP/Interactive
Roadrunner Promotion, Atlantic Records Announces Two Regional Hires
WPLJ/New York Joins Jayde Donovan In Her Apple-A-Day Program
In Brief - May 29, 2015
May 28, 2015
John Sutherland Promoted To VP/Market Manager For Cumulus Providence
iHeartMedia, CW Network And Yahoo Announce The 2015 "iHeartRadio Summer Pool Party"
iHeartMedia And Children's Miracle Network Hospitals Honored For Nationwide Radiothon Campaign
In Brief - May 28, 2015
May 27, 2015
iHeartMedia Connecticut Names Zac Davis PD of WKSS & WKCI
iHeartMedia Phoenix Appoints Spivey And Wolff To APD Posts
Former Dial Global/Westwood One Execs Launch DGital Media
Radio Promotion Executive Bridget Herrmann Joins Crush Music
Sinclair Broadcast Group And iHeartMedia Join Forces For UNCF "An Evening Of Stars"
In Brief - May 27, 2015
May 26, 2015
Michelle Jubelirer Promoted To COO, Capitol Music Group
CBS Radio Phoenix Names Tim Richards VP/Programming
Demi Lovato, Nick Jonas & Phil McIntyre Announce Formation Of Safehouse Records
Free Registration Offered To Radio Show's First-Ever Student Scholars Program
In Brief - May 26, 2015
May 22, 2015
Hubbard Radio Ups Jeremy Sinon To Corporate Digital Director
The Week In Review: 5/18-5/22
KSZR/Tucson Becomes Classic Hip Hop, 97.5 The Vibe
In Brief - May 22, 2015
Music News
Hozier, Nick Jonas And More To Play iHeartRadio Music Festival's Daytime Village
The Week In Review: 5/25-5/29
Quick Hits: Chance The Rapper, Mariah Carey, Michael Jackson, The Doors
Riot Fest Reels In Modest Mouse, No Doubt and More
Quick Hits: Mumford & Sons, MS MR, Fun Fun Fun Fest, Daughtry, The Roots / Philadelphia Music Alliance, Bonnaroo SuperJam
Twenty One Pilots Hit #1 On Billboard 200
Quick Hits: U2, NiFi Festival, Azealia Banks
A$AP Rocky Drops Early Release
Quick Hits: Neil Young, Of Monsters and Men, Chris Cornell, Boston Calling festival, Rob Thomas
Adam Lambert Unveils Two New Tracks
Academy Award-Nominated Actress Hailee Steinfeld Inks Record Deal With Republic Records
Quick Hits: Taylor Swift, Eminem, Enrique Iglesias, Slayer
The Week In Review: 5/18-5/22
Quick Hits: Taylor Swift, Madonna, Little Mix, Roger Waters
Pitch Perfect 2 Comes In At #1
FMQB NOW

Erik Bradley
APD/MD, B96/Chicago

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!