Sony Corp's music operations posted an 8.2 percent increase in sales for the quarter ending June 30 of this year, to $1.374 billion (¥141.5 billion) from the $1.27 billion (¥130.2 billion) it recorded during the same period a year ago. The group's operating income dropped however, from $310 million (¥31.8 billion) in the corresponding period last year to $155 million (¥15.9 billion) in this most recent report.
Sony attributed the revenue increase to growth in streaming and increases from its visual media and platforms. Elsewhere, Sony said its music group's operating income was impacted by a couple of factors, including the "re-measurement of SME's [Sony Music Entertainment's] equity interest in [distributor] The Orchard." The company is referencing the $151 million boost to operating income it saw during the same period last year, due to a one-time write-up which re-measured the value of its stake in The Orchard. Subtracting that $151 million from the prior year's operating income leaves it with $159 million -- meaning its $155 million in operating income performance this year shows only represents a slight decline.
Moving over to digital, Sony reported that overall digital revenues increased to $461 million (¥47.279 billion), up 10 percent. Within that, download revenue fell to $162 million (¥16.661 billion), or 18.5 percent of revenue. Streaming accounted for $299 million (¥30.668 billion), up 38.4 percent from last year's $216 million (¥22.188 billion).