Is This Just Going to Zero? Sony Music Sales Drop 14.5%

At least a rollercoaster goes back up again.

But the picture on recorded music is looking more like a bottomless pit every day. In fact, the latest results raise the question of whether a bottom will ever materialize – or, if physical music merely erodes to something resembling zero.

On Thursday morning, Sony Music revealed a monstrous, 14.5 percent sales plunge during its latest quarter.  Specifically, revenues slipped to ¥139.8 billion ($1.72 billion) for the three-month period ending December 31st (in steady currencies).  Blame the usual culprits, specifically the tanking CD, despite CPR efforts from Michael Jackson reissues.

Other heavy-hitters, like Christmas favorite Susan Boyle, also failed to stem the losses.  And digital, as usual, offered only partial recovery.  Broader profits at Sony Corporation slumped 8.6 percent, and double-digit revenue declines were also recorded across film and TV units.