Sony Corp.'s music segment saw a strong rebound in operating income for its fiscal fourth quarter.
Getting back to its operating income, that performance means that the segment's operating margin improved more than four percentage points to 14.6% of revenue, as compared with the 10.3% the segment tallied in 2018's fourth quarter. Moreover, 2019's performance brings the music unit back to 2017 levels when it had 30.91 billion in operating income, or a 15% operating margin.
Within recorded music, streaming grew nearly 26% to ¥69.95 billion yen , but physical also grew to ¥21.4 billion yen from ¥19.5 billion yen , a 9.6% gain. Meanwhile, downloads were down 4% to ¥8.63 billion yen from almost ¥9 billion yen and other income streams like synchronization and merchandising fell nearly 16% to ¥17.1 billion yen from ¥20.3 billion yen .
Without the gain from the consolidation of the EMI acquisition, operating income in 2018 would have been ¥127.2 billion yen. So when compared to 2019’s operating income of ¥142.35 billion yen, that produced a 23% gain. So when compared to 2020’s operating income of ¥142.35 billion yen, that produced a 11.9% gain.
Breaking out results by operation, recorded music totaled ¥467.15 billion yen , a 9.4% increase over the ¥426.93 billion in the prior year; while the music publishing operations produced ¥157.5 billion yen . Drawing a comparison to the prior year is meaningless because Sony didn't own 100% of EMI Music Publishing for all of 2018, only part of the year, so the company's publishing operation only booked ¥106.7 billion yen in revenue in fiscal 2018.
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