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Sony Music flat in 2009
By CMU Editorial | Published on Friday 14 May 2010
Sony Music had an OK 2009 thanks to Michael Jackson dying and Susan Boyle staying alive.
According to Billboard, Sony’s music company had what might be called a “flat year” revenue-wise. It’s all a bit confusing because Sony’s acquisition of Bertelsmann’s half of the old SonyBMG in 2008 is still making backwards comparisons slightly difficult, plus Sony Music has its base in New York but is owned by a parent company which reports in yen. But everyone seems to think things could have been a whole lot worse given the performance of Sony’s rivals, including Universal who, as previously reported, have seen revenues slump.
But if you’re the sort of person who prefers their major label updates to be doomy and gloomy, analyst types might make much of the fact Sony’s relatively good fortune had a lot to do with Simon Cowell discovering a funny looking showtunes warbler from Scotland, and Michael Jackson discovering how much propofol is too much propofol. While Alicia Keys and the ‘Glee’ franchise are also performing well, doom merchants question who the big earners in 2010 will be. Perhaps Elvis could die again.
