Sony Music Group saw significant gains to its bottom line in 2020. That was the upshot of the company’s 2021 presentation to investors, held on May 27.
The New York-based division of Tokyo’s electronics giant, led by chairman Rob Stringer (pictured), covers music in all territories except Japan, and it’s been thriving, albeit ever-so-slightly under the radar.If anything, SMG has spent the last three years under Stringer, growing its M&A and fortifying existing alliances, like that of The Orchard, which Sony acquired fully in 2015 — in retrospect, for a song.
More recent acquisitions include AWAL, which offers artist services to independent musicians; Beatstars, a marketplace for cleared beats and sounds; and Kobalt’s neighboring rights arm..
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