Sony Posts Higher Profits Thanks to Music and Games

Sony posted higher profits in the past quarter thanks to solid results from its music and game divisions.

Music streaming, in particular, remains a money machine for the Japanese entertainment group, which is behind top artists such as Beyoncé and Lil Nas X with its music division.

Sony, which owns many music rights, also benefits from the popularity of streaming services such as Spotify. The company’s music division also includes several popular smartphone games and anime publishers, the popularity of which has increased significantly outside Japan.

The company’s net profit rose by 69 percent to 338.5 billion yen in the three months to September, more than expected. For the entire financial year, Sony maintained its expectation of a profit of 980 billion yen. The company did become slightly more optimistic about its annual turnover.