Sony Music posts double-digit revenue growth in Q4 2025

For the three months from October to December 2025, Sony Group reported external music revenue of ¥538.66 billion ($3.43 billion). The figures were reported at an average exchange rate of ¥154 to the US dollar.

Excluding revenue from the “visual media and platform” segment, which includes activities such as mobile gaming, Sony Music generated ¥463.04 billion during the quarter, representing a year-on-year increase of 12.8%. For the nine-month period to December 2025, revenue excluding visual media and platform rose by 8.5% to ¥1.30 trillion.

Recorded music accounted for the largest share of quarterly revenue, contributing ¥354.86 billion, up 12.5% year on year. Streaming revenue within recorded music reached ¥222.80 billion, reflecting growth of 6.3% compared with the same period last year.

Physical formats delivered stronger growth, with revenue rising by 16.7% year on year to ¥35.28 billion. Permanent downloads, which have declined in recent years, increased by 7.4% to ¥6.91 billion. Revenue from the “other” recorded music category, which includes synchronisation, concerts and merchandise, public performance and related income, rose by 30.1% to ¥89.86 billion, driven in part by live and merchandise activity.

Sony Music’s leading projects by revenue during the quarter included releases by Rosalía, Pink Floyd, Tyler, the Creator, Tate McRae, SZA and Tame Impala.

Sony Music Publishing also reported growth, with quarterly revenue rising by 13.5% year on year to ¥108.18 billion. Streaming accounted for ¥64.32 billion ($409.46 million) of that total, an increase of 14.3% compared with the same quarter in 2024.

Operating income for Sony Music increased by 9.2% year on year to ¥106.41 billion during the quarter. This followed stronger operating income growth of nearly 15% for the nine-month period to December 2025, which totalled ¥314.60 billion.

Based on its performance to date, Sony Group revised its full-year Sony Music revenue forecast upwards by approximately ¥70 billion. The company cited stronger-than-expected results from live events and merchandise, as well as favourable exchange-rate movements, as factors behind the revised outlook.