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Sony Music Posts Double-Digit Q4 2024 Revenue Jump Despite Comparatively Modest Streaming Growth

^{Published on 2025-02-13 23:24:32 - MSN}

Sony Music Entertainment (SME) achieved double-digit overall growth during 2024's final three months. But amid industry-wide concerns of a streaming plateau, revenue from on-demand listening turned in a comparatively modest improvement.

Sony Music Entertainment reported a significant double-digit increase in revenue for the fourth quarter of 2024, despite only modest growth in streaming numbers. The company's financial success was attributed to a combination of factors including robust physical sales, a surge in licensing deals, and an uptick in merchandising revenue. Streaming, while still a major revenue driver, did not grow as rapidly as in previous years, highlighting a shift in consumer behavior towards more diverse music consumption methods. This performance reflects Sony Music's strategic efforts to diversify its income streams beyond traditional digital platforms, capitalizing on the growing demand for vinyl records and exclusive artist merchandise, as well as expanding its global licensing agreements.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/general/sony-music-posts-double-digit-q4-2024-revenue-jump-despite-comparatively-modest-streaming-growth/ar-AA1z1jwg ]

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