Driven by key releases from AC/DC, The Kid LAROI and Miley Cyrus.
Sony released their financial results for the year for their fourth quarter (the three months ending on March 31).
Read more Industry News headlines here.
Sony Music made about $2.42 billion ($3.1 billion AUD) throughout January, February and March this year, slightly up from the last quarter. Recorded music made $1.41 billion ($1.81 billion AUD), about $97.81 billion ($1.25 billion AUD) than quarter three.
Digital sales (download and streaming) made about $1 billion ($1.28 billion AUD), with streaming claiming $931.95 million ($1.19 billion AUD) of the $1 billion from digital.
Streaming saw a $121.86 million (156.53 million AUD) increase to last quarter, constantly increasing with each quarter. Download had an increase from last quarter by $169.33 million ($217.59 million AUD) with $777.78 million (almost $1 billion AUD) in total for quarter four.
Physical sales made $217.79 million ($279.82 million AUD) in quarter four but saw a decrease in sales compared to the last quarter with $105.02 million ($134.88 million AUD) less, being the third lowest quarter (the first being the lowest).
The results also revealed the top ten best-selling albums for the first quarter of 2021. With the successful year Harry Styles has had with his second studio album Fine Line, it was no surprise that it was Sony’s biggest-selling album of the last quarter (and the last 12 months), followed by The Kid LAROI’s F*CK LOVE (Savage) and Foo Fighters’ Medicine At Midnight.
2021 first quarter ended March 31
Harry Styles – Fine Line
The Kid LAROI – F*CK LOVE (Savage)
Foo Fighters – Medicine At Midnight
Doja Cat – Hot Pink
Luke Combs – What You See Is What You Get
Miley Cyrus – Plastic Hearts
Polo G – THE GOAT
Travis Scott – ASTROWORLD
24KGoldn – El Dorado
AC/DC – POWER UP
To see the full financial results, head here.