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With SZA’s album SOS leading the way and the market enjoying more growth in streaming royalties, Sony Music’s revenue grew 16.0% to 422.1 billion yen ($2.85 billion at the period’s average exchange rate) in its fiscal third quarter ended Dec. 31, the company announced Wednesday (Feb. 14).
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Other top releases for the quarter were Travis Scott’s Utopia, Rod Wave’s Nostalgia, Doja Cat’s Scarlet, Blink-182’s One More Time…, Tate McRae’s Think Later, Harry Styles’ Harry’s House and Fuerza Regida’s Pa Las Baby’s Y Belikeada. A couple holiday classics were amongst Sony’s top albums in the Christmas quarter: Mariah Carey’s Merry Christmas and Phil Spector’s A Christmas Gift for You From Phil Spector.
Streaming fueled growth in both the recorded music and music publishing segments of the business. Paid subscriptions were a major factor in the first full quarter after Spotify raised prices in roughly 50 markets, including the U.S., in July. Favorable foreign exchange rates accounted for about 24% of the quarter’s 58.4 billion yen ($394.9 million) revenue increase.
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Its double-digit revenue growth was comparable on a percentage basis to other music companies that have released earnings. In the same quarter, Warner Music Group’s revenue grew 17.5% to $1.75 billion and Reservoir Media revenue improved 19% to $35.5 million. Spotify, the largest single source for music royalties globally, grew revenue by 16% to 3.67 billion euros ($4.05 billion).
Sony Music’s margins improved across the board, too. Operating income improved 20.8% to 76.1 billion yen ($514.4 million) and adjusted operating income before depreciation and amortization jumped 25.3% to 98.5 billion yen ($666.2 million). Adjusted OIBDA margin improved nearly two percentage points to 23.3% from 21.6% in the prior-year quarter.
The strong quarter led Sony Music to raise its full-year forecasts for the third consecutive quarter. On Wednesday, the company raised the forecasts for both revenue and adjusted OIBDA by 10 billion yen ($68 million) — revenue from 1.56 trillion yen ($10.37 billion at the current exchange rate) to 1.57 trillion yen ($10.43 billion) and adjusted OIBDA from 350 billion yen ($2.33 billion) to 360 million yen ($2.39 billion). When the company released its fiscal second quarter earnings in November, it increased its revenue guidance by 5% to 70 billion yen ($485 million) and adjusted OIBDA by 4%, or 15 billion yen ($104 million). In August, it raised its revenue forecast by 6%.
Both music divisions each posted solid year-over-year gains in the quarter. Recorded music revenues jumped 19.9% to 286.5 billion yen ($1.94 billion). Streaming revenue rose 17.2% to 186.5 billion yen ($1.26 billion) and accounted for about 58% of the segment’s improvement. Physical revenue gained just 1.5% to 31.5 billion yen ($213.2 million). The “other” category — including merchandise, live performances and licensing revenue from synch, public performance and broadcast — jumped 45.9% to 59.7 billion yen ($403.9 million).
Music publishing revenue rose 16.1% to 86.1 billion yen ($582 million). Streaming revenue climbed 22.4% to 50.9 billion yen ($343.9 million) and accounted for 78% of the segment’s year-over-year gain. Publishing’s “other” category grew 8% to 35.2 billion yen ($238.1 million).
Visual media and platform revenue declined 5.1% to 45 billion yen ($304.4 million). The segment includes mobile gaming, software for PCs and game consoles, and software development contracts.
Financial metrics for Sony Music’s fiscal third quarter ended Dec. 31, 2023:
Revenue of 422.1 billion yen ($2.85 billion), up 16.0% year over year.
Adjusted operating income of 98.5 billion yen ($666.2 million), up 25.3% year over year.
Recorded music of 286.5 billion yen ($1.94 million), up 19.9% year over year.
Music publishing revenue of 86.1 billion yen ($582 million), up 16.1% year over year.
Visual media and platform revenue of 45 billion yen ($304.4 million), down 5.1% year over year.
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Nearly four years after its original release, Naughty Dog and Sony Interactive Entertainment remastered The Last of Us, Part II for the PlayStation 5.
Out now with a retail price of $49.94 at Walmart, The Last of Us, Part II: Remastered has enhanced 4K graphics and audio for PS5, while keeping the same gameplay, story and combat from the sequel game, which was first released in June 2020 for PS4.
However, there are some new goodies that come with this 4K remastered edition, including new character and weapon skins, a speed run mode and a new “No Return, A Roguelike Survival Mode,” which deepens combat and the adventure with new options and routes for a different experience.
And since it’s from Walmart, you’ll get it shipped to you for free if you’re a Walmart+ member. Otherwise, your cart has to be more than $35 to get free shipping.
Not a member? You can sign up for a 30-day free trial to take advantage of everything the retailer’s rewards program has to offer, including free delivery; fuel savings at Exxon, Mobil, Walmart or Murphy gas stations; streaming access to Paramount+ to watch hit originals such as Halo, Fatal Attraction, Star Trek: Lower Decks; early deals access and much more. Learn more about Walmart+ here.
The Last of Us, Part II: Remastered for PS5 is also available at Amazon, Best Buy and Target.
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‘The Last of Us, Part II: Remastered’
Meanwhile, if you’d like to experience a new remaster of the first game for PS5, Walmart also has The Last of Us, Part I available. It’s on sale for $39.97, or nearly 45% off its list price, from the retailer.
Priced at $49.94 at Walmart, Amazon, Best Buy and Target, The Last of Us, Part II: Remastered is out now for PS5. In the meantime, you can watch the launch trailer from Sony, below.
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On Thursday afternoon, the history-filled Sony lot in Culver City — which was the MGM lot during Hollywood’s Golden Age, home to “more stars than there are in heaven” — welcomed film composer John Williams, after whom the studio’s musical building was being renamed.
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Williams, 91, who is best known for the scores of Star Wars and 29 Steven Spielberg films — 20 of which were scored in the structure that will henceforth be known as the John Williams Music Building — was on hand, as were many of his collaborators (Spielberg, J.J. Abrams and Spielberg’s producers Frank Marshall and Kristie Macosko Krieger) and colleagues (including fellow film composer Thomas Newman).
Sony Pictures Entertainment chairman and CEO Tony Vinciquerra kicked off the festivities by noting how much “magic was made right here in this building.” Sony Pictures Entertainment Motion Picture Group chairman and CEO Tom Rothman then argued that the greatest of all time in many fields is debatable, citing the examples of Michael Jordan vs. LeBron James, Jack Nicklaus vs. Tiger Woods, Claude Monet vs. Vincent van Gogh and Stanley Kubrick vs. Spielberg — but that when it comes to film scoring, “There is no argument: John Williams is the GOAT,” adding, “I’m very sure that 100 years from now the name that will go on this building today will still be the name of the greatest of all time.”
Abrams spoke next, addressing Williams, “Johnny, you’ve filled our lives with some of the greatest art ever produced by mankind,” and the other attendees: “How lucky are we to be alive at the same time as John Williams?”
Then it was Spielberg’s turn. “Johnny, I have grown up with you,” the filmmaker said, recalling how struck he had been listening to the album of Williams’ score for the 1969 film The Reivers, vowing, “If I ever got the chance to make a movie, I would want the guy who wrote this.” The two met ahead of Spielberg’s feature directorial debut, 1974’s The Sugarland Express, and have rarely worked apart since.
“It was the beginning of a beautiful friendship,” Spielberg said, before turning to Williams: “What you did for me was something I had never been able to imagine any single creative collaborator would ever be able to do for me or the stories I was telling, and that is when I thought I’d gotten to know a film really well, by the time I turned my films over to you, I knew what my movies were, I knew what they meant to me. Then you would musically do the final draft of my films, the final rewrite, and you would bring every movie I’ve ever made to a level that I didn’t recognize it as me, I recognized it as us. The films suddenly became informed by wherever you get your inspiration… Without you, the films are running around with no clothes on; with you, they’re completely finished. I’ve often said that if my movies can bring a tear to your eye, your music makes that tear fall down the face. And it’s happened on film after film after film. This alley is where all my stress dissipates, when I finally get to this stage of a production and I know that I am in your capable hands.”
Spielberg then invited the prior speakers and Williams to the stage, took a conductor’s baton and motioned towards a sheet-covered portion of the building, and upon his cue the sheet lifted and the new name of the building was visible.
Williams then stepped up to the podium and cracked, “This is the alley where Steven destresses. This is the alley is where I stress!” He then shared that his history at the building that now bears his name dates back long before his professional career: “The first time I came to this studio was 1940 when my father brought me here to show me the stage. I was about 9 or 10 years old, and I thought [he joked], ‘Someday this will all be mine!’ It’s finally come to be — it’s only taken me 92 years to get here! [His 92nd birthday is on Feb. 8.]” He added with a chuckle, “This place, I have reverence for it. I love it. Is it perfect? No. Tom, we could use a couple more bathrooms for the orchestra.”
Williams closed by asserting, “My hope and even prayer for this hall and for future people coming into it is a hope and it’s also a challenge: that they should do as well the next 100 years as the people who have been here for the last 100 years. They need to get to work and make some good music. And that is a challenge because they are standing on very big shoulders.”
As guests posed for photographs and headed over to a buffet lunch, Rothman escorted a fellow journalist and I into the John Williams Music Building, where another great composer, Oscar winner Dario Marianelli, was scoring, with a full orchestra, the upcoming Ghostbusters: Frozen Empire, as director Gil Kenan looked on. Rothman notified them, during their session, that the name of their building had changed.
This article was originally published by The Hollywood Reporter.
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Source: SOPA Images / Getty / PS5
When it comes to moving consoles, Sony remains king.
Sony has a lot to be happy about. Roughly three years after its release, the popularity of the PS5 console remains high, and according to Reuters, the company has reportedly sold over 50 million units.
The Japanese tech giant also says it has the best-ever Black Friday period for the video game console.
Per Reuters reporting, Sony expects to finish the year on a high note thanks to a strong holiday performance, putting the company on pace to reach its sales target of a record 25 million units to close out the current financial year ending March 31.
Eric Lempel, senior vice president for global marketing, sales, and business operations at Sony Interactive Entertainment, said, “Given the momentum we’ve had in November and a lot of what we’re seeing in December, just in general, we’re feeling very good about sales overall.”
Remember that this number could have been higher, but PS5 sales were hampered due to supply chain issues when the console first hit the market.
Still, despite that, you can expect to see a PS5 in a home thanks to a solid first-party game lineup with games like God of War: Ragnarok and, most recently, Insomniac Games’ Marvel’s Spider-Man 2.
Xbox & Nintendo Are Not Seeing The Same Success With Its Consoles
The outlook isn’t so rosy for the PS5’s direct competitors, Microsoft’s Xbox Series S | X and the Nintendo Switch.
IGN reports the Xbox sales have hit a snag. According to the website, PS5 sales are up “65% to 22.5 million units,” while Xbox’s sales took a dip to “about 15% to 7.6 million.”
The Nintendo Switch, which at one point was impossible to find on shelves during the pandemic, has fallen nearly 20%.
We are curious to see if Sony can continue its dominance in the gaming space in 2024.
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Photo: SOPA Images / Getty
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Over the last few weeks, Sony released the refreshed PlayStation 5 Slim, handheld PlayStation 5 Portal remote player and new PS Pulse Explorer wireless earbuds for the holiday season. Now Sony has just released a new accessory that increases the PS5’s community.
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Priced at $89.99 at Amazon, Best Buy, Walmart and PlayStation Direct, the Sony PlayStation Access Controller is a new controller kit that’s highly customizable for accessibility purposes — especially for players with disabilities or dexterity issues.
Made for easy access, the PS Access Controller is adaptive for many different types of playing styles — thanks to its 360-degree design, extendable joystick, swappable and magnetized buttons and stick caps, range of motion, textured layout and more. It even has designed to stay stationary on flat surfaces, including a wheelchair tray or a AMPS pattern mount.
Sony PS Access Controller
Meanwhile, the new controller is expandable for different types of configurations. This means you can sync two PS Access Controllers together for additional accessibility, or you can pair it with a traditional PlayStation DualSense Wireless Controller (sold separately) for haptic feedback, adaptive triggers, motion sensors, and much more.
The PS Access Controller has four input ports at its base for additional expandability to connect peripherals, like joysticks, action buttons, triggers and others. There’s even custom profiles available for up to 30 individual controller settings, which means it’s easier and faster to re-map the entire controller (after setup) based on the game being played. The options for customizability and configurations are nearly endless.
This is a big win for game accessibility! The Sony PS Access Controller is available for $89.99 at Amazon, Best Buy, Walmart and PlayStation Direct. In the meantime, watch a trailer for the new gaming controller, below:
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A few weeks ago, Sony released the newly designed PlayStation 5 Slim and handheld PlayStation 5 Portal remote player in the lead-up to the holidays. Now the tech and entertainment company just dropped new accessories that bring PlayStation games to life.
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Priced at $199.99 at Best Buy and Amazon, the Sony Pulse Explore is a new pair of true wireless earbuds specifically designed for the PS5, PS5 Slim and PS5 Portal. These accessories offer excellent gaming audio that’s crisp, full and immersive with deep and rumbling bass, while it comes with a USB dongle that plugs directly into the back of the console to provide a low latency wireless audio connection with practically zero lag.
Meanwhile, the earbuds have a clever hidden microphone design that lets gamers chat with teammates and opponents online. They’re also compatible with Mac and PC, as well as Apple iPhone and Android mobile devices via Bluetooth.
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Sony PS5 Pulse Explore Wireless Earbuds
In addition, Sony PS5 Pulse Explore comes with a sleek sliding USB-C charging case that serves as storage for the wireless earbuds and supplemental battery life. Although the earbuds themselves have a battery life of up to five hours per charge, their included charging case gives them an extra battery life of up to 10 hours. That’s up to 15 hours of charge in total, which is more than enough to complete games such as The Last of Us, Marvel’s Spider-Man: Miles Morales, Stray, Ratchet & Clank, Star Wars Jedi: Fallen Order and others.
The Sony PS5 Pulse Explore Wireless Earbuds come out on Wednesday, Dec. 6. They’re available for $199.99 at Best Buy, PlayStation Direct, Target and Amazon (you can also find them on resale sites such as StockX). In the meantime, watch a trailer for the new earbuds (and the upcoming Sony Pulse Elite gaming headset), below:
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Source: Sony / PlayStation Portal
When the PlayStation Portal was officially unveiled, there were more skeptics than believers about the latest PlayStation accessory. Now that people have tried it, surprisingly, it is being well-received by many.
The PlayStation Portal is an unusual device. For $200, you’re basically getting the perfect PS5 companion device that truly puts the console’s Remote Play option to use better.
Of course, there are caveats; it doesn’t allow for cloud streaming, even though there are reports that the feature could be coming eventually. Another complaint is the lack of Bluetooth functionality.
Plenty of people have said you don’t need this device, given that you could use Remote Play on your smartphones and even connect your DualSense controller. Still, after using the PlayStation Portal leading up to its release, some reviewers are much more optimistic about the device than initially.
What Are The Critics Saying About The PlayStation Portal
Tech Radar’s Rob Dwiar had nothing but glowing words for the PlayStation Portal, giving it a perfect score in his review:
“Offering superb ergonomics as well as excellent design and build quality with all those exquisite DualSense controller features on top, this Remote Play beaut and its bright and sharp 8-inch LCD screen present a wonderful portable PS5 experience. … The Portal is not pretending to be anything else apart from a quality remote-play device for your PS5, and it absolutely nails its brief. As long as you come to it knowing what it does and what it can offer you, then it wholeheartedly, unabashedly, spectacularly succeeds.”
Surprising Skeptics
IGN’s Seth G. Macy had his issues with the device but overall was surprised by the PlayStation Portal after initially being skeptical about it, writing in his review:
“The PlayStation Portal is the most surprising device I’ve ever come away from loving after going in loaded with skepticism. It’s such a better experience than using your phone with a slap-on controller, and it works so much better than I was anticipating. I really love the freedom it gives me to play my PS5 from anywhere with decent WiFi coverage … The biggest things keeping the Portal from being a truly amazing device are its current lack of a way to access WiFi that requires a web browser to log in, and its lack of Bluetooth support for audio. [Grade: 8/10]”
A Perfect Gift For Gamers, But There Is Room For Improvement
Kotaku’s Jen Glennon praised the PlayStation Portal’s battery life, calling it “a solid sub-$200 gift option,” but also noted in her review that there is room for improvement with the Portal.
“While there are tweaks I’d like to see in the weeks and months ahead, I’ve been quite impressed with the time I’ve spent with Portal so far. I’ve played for about six hours on a single charge and still have a bar of battery life left to go. It’s a solid sub-$200 gift option for the gamer in your life who’s always hogging the TV when you’re trying to watch Vanderpump Rules or Monday Night Football.”
Some Are Meh On The PlayStation Portal
With the good, some people were always left feeling meh about the PlayStation Portal experience.
The Loadout’s Callum Self described his experience with PlayStation Portal as “enjoyable and disappointing” but noted in his review that it is the best way to use Remote Play.
“My overall time with the PlayStation Portal was both more enjoyable and disappointing than I expected. It’s certainly the best way to use Remote Play currently, by a long shot, and I’m sure I’ll be using it frequently in the future. But the washed-out screen, lack of cloud gaming support, and so-so battery life make me wish for a better, but unlikely, PlayStation Portal 2. [Grade: 5/10]”
No Reasonable Use For The PlayStation Portal
Then, of course, some just feel PlayStation swung and missed with the Portal. PC Mag’s Will Greenwald calls the Portal “just a screen sandwiched between a controller” and not worth the $200 price point.
“The screen works as intended, but the 1080p resolution looks fuzzier than most modern mobile devices. … The most baffling aspect of the Portal is its fundamental limitation. … I can’t see a reasonable use case for the Portal that wouldn’t be served more economically, and with a better screen, with many other devices. Ultimately, the Portal is just a screen sandwiched between a controller, and for $200, it should be more than that. [Grade: 2.5/5]”
Well, for the most part, people are high on the PlayStation Portal, but it sounds like this is a device for a very niche group of people, and those are the gamers who love Remote Play and hate using their smartphones to utilize it.
Will you be buying a PlayStation Portal? Let us know in the comment section below.
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Photo: Sony / PlayStation Portal
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Although Sony just released the newly designed PlayStation 5 Slim, the tech and entertainment company has another gaming device up its sleeve with the PlayStation Portal, which comes out on Wednesday, Nov. 15.
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Retailing for $199.99 at Amazon and Target, the new PlayStation Portal is a handheld remote player for the PS5. While it may look like a Nintendo Switch or a SteamDeck, it’s not an independent gaming console. It’s a remote player that pairs with your PS5 and mirrors its games so you can play anywhere on the PS Portal when you’re on the same Wi-Fi network as your PS5. The PlayStation Portal comes in handy if, for example, you want to play the new Marvel’s Spider-Man 2 or Call of Duty: Modern Warfare III in the bedroom while someone else is watching TV in the living room.
Please note: You need to own a PlayStation 5 to use the PlayStation Portal.
Sony
Sony PlayStation Portal
The new Sony handheld supports 60fps (Frames Per Second) at 1080p HD resolution gaming, while it has a sharp 8-inch LCD touchscreen display and DualSense wireless controller features, like haptic feedback and adaptive triggers. In fact, it looks and feels exactly like the DualSense wireless controller that comes with the PS5 proper, only it’s split into two with a tabletlike display placed in the middle.
It comes with a USB-C port for charging and a 3.5mm headphone jack for wired headphones. Unfortunately, there is no built-in Bluetooth. If you want to go wireless with a pair of headphones and earbuds or a gaming headset, you’d have to use the upcoming Pulse Explore Wireless Earbuds (drops on Dec. 6 for $199.99) or Pulse Elite Headset (releases on Feb. 21, 2024, for $149.99) via Sony’s proprietary PlayStation Link connectivity standard.
The Sony PlayStation Portal comes out on Wednesday, Nov. 15. It’s available for $199.99 at Amazon and Target. In the meantime, watch a trailer for the new handheld, below.
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All products and services featured are independently chosen by editors. However, Billboard may receive a commission on orders placed through its retail links, and the retailer may receive certain auditable data for accounting purposes. Seeing double? It’s not just you — Olivia Rodrigo is becoming a fan of herself in the latest commercial for Sony […]
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Sony’s PS5 is on its way to being one of the company’s most successful consoles.
It was a successful quarter for Sony regarding PS5 sales. Spotted on Engadget, the company has sold 4.9 million PS5 units during its second financial quarter.
That number now brings the total of PS5 consoles sold to 46.6 million. While impressive is still short of last year’s holiday figures, Sony did manage to move 1.6 million units more than it did in the previous year.
The impressive numbers come as Sony (as well as Nintendo and Xbox) all struggled to keep up with the demand for its PS5 consoles due to global supply chain issues due to the COVID-19 pandemic.
As things slowly got back to “normal” and the shortages began to ease up, Sony was able to ramp up production on the PS5 console.
By the end of July 2023, Sony announced that more than 40 million PS5 units had been sold since the console hit shelves in November 2020.
Sony has set an ambitious target of shipping 25 million PS5 units in this financial year, but to achieve that goal, the company has to move 16.8 million more units.
While it seems like a bit of a stretch, according to Reuters reporting, Sony President Hiroki Totoki believes the goal is something his company “can attain very easily.”
The new “PS5 Slim” model due out this month could be that shot in the arm that Sony needs this holiday season to reach that goal, as the PS5 will surely be on the top of children’s and adult’s Christmas wishlists.
Sony Also Moved A Lot of Games
Hardware/consoles was not the only thing Sony talked about. The company sold 67.6 million games in the second quarter; 4.7 million were first-party titles.
The first-party numbers should also get a boost thanks to Insomniac Game’s Marvel’s Spider-Man 2, which the studio happily announced sold 5 million copies since launching exclusively on the PS5 console.
That’s quite a feat for a game, not Grand Theft Auto or Call of Duty, which launches on multiple consoles.
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Photo: NurPhoto / Getty