Sony Music’s Rob Stringer Touts Strong Fiscal Year Thanks to Adele, Doja Cat, Lil Nas X, Maneskin and Harry Styles

variety.com:

Shirley Halperin Executive Editor, MusicSony Music Group (SMG) chairman Rob Stringer touted a strong fiscal year (for the period between April 1, 2020 and March 31, 2021) and revealed plans to expand the company’s Legacy Unrecouped Balance Program in a briefing to the company’s senior executives and investors delivered on May 25.Speaking from New York, Stringer hailed what he described as “all-time high financial results,” resulting in record numbers in revenue, profits and margins, going on five consecutive years.During that time, SMG’s global roster from its frontline labels — namely Columbia, RCA and Epic — increased by over 30% and its creative staff by more than 85%.

The investment in talent, on both the artist and executive side, has yielded tangible results in the form of global successes like the Kid Laroi, Maneskin, Doja Cat and Lil Nas X, who got mentioned during the presentation.

BTS also contributed significantly to SMG’s bottom line, via its former distribution deal with Sony-owned the Orchard; the K-pop group left the company for Universal Music Group in October 2021.

Also noted were Stringer’s own signings while head of Columbia: Harry Styles, who is poised for “the biggest selling global no.1 chart entry of the year” with the just-released “Harry’s House,” and Adele, whose “30” was the top-selling album of 2021 globally.On the publishing front, Sony Music Publishing retained its No.