Sony Music's revenues saw a significant 16% increase, attributed to artists like SZA and a surge in streaming services, generating $2.52bn in the fourth quarter of 2023, up 14% YoY. Concurrently, Sony's PlayStation division generated $9.3 billion during the holiday quarter, despite predictions of a hardware decline in 2024 due to a lack of major franchise launches until April 2025. Sony Group has raised its net profit forecast for the fiscal year ending in March to ¥920 billion, up from the previously estimated ¥880 billion. This adjustment reflects a 13% profit increase in the October-December quarter, driven by heightened sales in music, image sensors, and video games. Sony's overall profit for the third quarter exceeded forecasts, jumping 10% to just over $3 billion. However, the company has adjusted its full-year forecast for its PlayStation console. Amidst these developments, Sony is pivoting towards profitability and focusing on its next-gen console after not meeting PS5 sales goals.
After failing to meet some bold PS5 sales goals, Sony is shifting its focus to profitability—and, inevitably, its next-gen console. https://t.co/aGrkLleTpo
Sony’s Profit Rises on Growing Sales of Music, Games, Pictures, Sensors https://t.co/TpHBLrxN8y
Sony beat forecasts over the third quarter. The PlayStation maker said that profit jumped 10% to just over $3 billion. But there's a shadow over its flagship PlayStation console, with the company slashing its full-year forecast https://t.co/5WPrtjuQsR https://t.co/jMW2DfDdp1
Sony's profit rises on growing sales of music, games, pictures, sensors: Japanese electronics and entertainment company Sony Corp’s profit rose 13% in October-December on growing sales of music, image sensors and video games, the… https://t.co/8qxYc6Adf4 #japannews #japantoday
Sony generated $2.52bn from recorded music and publishing in calendar Q4 2023, up 14% YoY (@musicbizworld) https://t.co/eVP7isXU26
Sony Group on Wednesday lifted its net profit forecast for the year ending March to ¥920 billion from an earlier estimate of ¥880 billion. https://t.co/LqPwBG7pnc
PlayStation generated $9.3 billion for Sony in the holiday quarter, but platform holder expects hardware decline in 2024 with no major franchise launches until April 2025 https://t.co/1metDpT1tp
Sony Music Revenues Jump 16% Thanks to SZA & Streaming https://t.co/qr0oF9yB6x