Musicbusinessworldwide.com
Sony Music Group has crossed another major financial milestone, generating more than $3 billion in combined recorded music and publishing revenue during the first quarter of 2026. The figure marks the second consecutive quarter the company has cleared that threshold, underscoring the growing scale of the global music business in the streaming era.
According to Sony’s latest earnings results, the company brought in an estimated $3.03 billion from recorded music and publishing between January and March, representing nearly 20% year-over-year growth. The gains were driven by a mix of streaming expansion, live and merchandising revenue and strong performances from some of the industry’s biggest artists.
Streaming remained the backbone of the business. Recorded music streaming revenue climbed to roughly $1.44 billion for the quarter, continuing the steady upward trajectory that has defined the modern major-label economy.
But one of the more striking developments came from Sony’s “other” revenue category, which includes licensing, merchandise and live activity, which surged more than 50% compared to the previous year.
That spike reflects how diversified the music industry’s revenue streams have become. While streaming still dominates, labels are increasingly monetizing artists through touring, brand partnerships, sync placements and merchandise in ways that now contribute hundreds of millions of dollars per quarter.
Among Sony’s strongest performers was Bad Bunny, whose projects ranked as the company’s top revenue-generating releases globally during both the quarter and the full fiscal year. Other major contributors included Harry Styles, SZA, Tate McRae, ROSALÍA and BLACKPINK.
Sony’s publishing arm, Sony Music Publishing, also posted healthy growth, with streaming revenue rising more than 10% year over year. The company’s overall music division, which additionally includes anime and mobile gaming businesses, delivered substantial profit growth as well, aided partly by a one-time financial gain tied to an equity acquisition.
The broader picture emerging from Sony’s results is one of scale and diversification. Streaming continues to expand globally, but the modern music conglomerate is no longer dependent on subscriptions alone. Live experiences, merchandise, catalog exploitation, publishing and multimedia franchises are increasingly intertwined within the same corporate ecosystem.
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