Hiroki Totoki pandemic 2020 Music Hiroki Totoki

Music Profits Propel Sony To A 9% Increase in Q1 Income Despite Slow Post-COVID Recovery in TV, Film, Games

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thewrap.com

Despite a slow recovery in some divisions due to pandemic concerns, Sony Group saw an increase in profits of 9% in the period between April and June of 2021, the company reported in a earnings call on Tuesday.

During the period, which represents the first quarter of Sony’s 2021-2022 financial year, Sony Group was sales of 2.25 trillion yen or $20.5 billion, a gain of 15%.

During an earnings call Tuesday night, Sony Executive Deputy President and Chief Financial Officer Hiroki Totoki said that Sony’s music division had increased 44% in all categories driven by growth in streaming, including paid subscription streaming services and ad-supported music streaming.

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