The company said it expects strength in paid streaming and a resurgence in ad-supported streaming to push organic growth over 20% in 2024.
After fourth-quarter revenue declined 5%, first-quarter revenue will be down 2% to flat, the company announced Thursday.
UMG also reported publishing revenues rose 8.7% for both the full year and the most recent quarter.
Seventeen led the way with 15.9 million album sales in Korea, while the company's Quality Control acquisition boosted the K-pop giant's global streaming revenue.
The concert giant’s top 50 tours had 50% more international acts in 2023 than five years ago.
SZA, Travis Scott, Doja Cat, Tate McRae and Mariah Carey led the way for Sony in the fiscal third quarter ended Dec. 31.
The company attributed the revenue drop to smaller-sized concerts and “slow business conditions” for its content-related subsidiaries.
Company-wide revenue reached a record $1.75 billion on streaming gains and strong physical sales.
Full-year revenue dropped 0.6% to $8.95 billion while adjusted EBITDA fell 2% to $2.8 billion.
After receiving a "heavily caveated" opinion from its adviser, Hipgnosis Songs Fund said it needs more time preparing its latest interim results.
