WHY SONY MUSIC’S 2016 NUMBERS ARE HEALTHIER THAN THEY FIRST APPEAR

No Comments 1 May 2017

WHY SONY MUSIC’S 2016 NUMBERS ARE HEALTHIER THAN THEY FIRST APPEAR

Sony Music has been stitched up by the Yen.

On Friday, Sony Corp revealed the FY2016 fiscal performance of its music division - and its numbers didn’t quite tally with the good news stories flying around the industry at the moment.

Reported in local currency by Sony in Japan, the company’s recorded music revenues were officially down 5.8% in the 12 months to end of March 2017.

Author: Tim Ingham

Meanwhile, Sony said its streaming music revenues grew year-on-year by just 27.6% - as download and physical declines dragged down the overall sales performance.

However, MBW has been fiddling with our calculator.

We’ve worked out what Sony Music’s numbers look like when you discount the corrosive effect of currency exchange related to the ever-strengthening Yen.

It makes for rather brighter reading.

Here comes the science: MBW has reverse-engineered Sony’s recorded music financials from Japanese Yen into US dollars at the prevailing exchange rate of the past two years (FY 2015: 120.1 Yen per USD; FY 2016: 108.4 Yen per USD).

This effectively gives us a constant currency picture of Sony Music’s performance, wiping out the negative impact of the Yen’s heavy appreciation since 2015.

Read More/Original Source: https://www.musicbusinessworldwide.com/sony-musics-2016-numbers-healthier-first-appear/

  • Google+
  • Pinterest
  • LinkedIn
  • Reddit

Your Comments

No Comments


Share your view

Post a comment

Submit the word you see below:



Notify me of follow-up comments?