Music Biz Sales #’s

Sony BMG just released sales numbers for the quarter that ended on Sept. 30th. They aren’t good. Sony lost $57 million on sales of $762 million. Losses a year ago during the same period were $8 million on $851 million in sales. Sony corp blamed the losses on “the continued decline in the worldwide physical music market,” that is “not being offset by growth in digital product sales.”

Earlier this year, Sony BMG split apart so it will just be Sony Entertainment from now on.

In other news, Real Networks (owner of Rhapsody) released 3rd quarter earnings of $41.6 million for its music division. There were $34.2 million in revenues from the gaming division and $24.5 from media software. Still, despite $152 total in revenues, they had a net loss of $4.5 million for the quarter.

Stay tuned,
Erik
erikrostad.com