Sony Corp’s music division sales jumps to $1.16b in Q2

Sony Corp’s music segment – comprised of recorded music, music publishing and visual media categories – reported that sales jumped 15% to US$1.16 billion in the fiscal second quarter.

The numbers are gleaned from Sony Corp’s overall results. Between July and September 30, 2015, the Tokyo-based giant registered sales of $15.8 billion, with net profits at $280 million (after a loss last year) and operating income of $733 million.

The music’s sales rise was attributed by the company to an increase in visual media and platform sales reflecting higher live entertainment venue revenue and higher sales of animation products.

The latest results are a return to form for Sony Corp, with its PlayStation video game and image sensor divisions its strongest performers. Smartphones were struggling and the film division’s performance was more lacklustre performance than expected.

PlayStation business lifted 16.5% to a profit of $199 million as PlayStation 4 turned in stunning sales. In the first financial quarter PlayStation 4 moved 3 million units, playing a huge part in the $2.365 billion generated by the Games & Network Services division. Barely two years old, PlayStation has achieved global sales of 25.3 million units.

The image sensor business, now a stand-alone, was up 16%. It is planning to acquire Toshiba’s sensor division.

Its smartphones continue to struggle against rivals, sales down 15%, with an operating loss of $172 million and revenue of $2.33 billion. It is expected that Sony will try a few more last minute attempts to revive it before exiting the business, similar to the way it left the PC market.

At Sony Pictures – comprised its motion pictures, television productions and media networks – sales rose just 0.9% to $1.53 billion and with an operating loss of $187 million. Despite the box office success of the latest in the James Bond franchise, Spectre, Sony reduced its full-year sales forecast for the division by 2% to $8.28 billion and the profit outlook to $289.8 million. Sales in home entertainment slipped 0.2% to $2.4 billion as that market shrunk.

Image: Sony Music artist Bring Me The Horizon