The MBW Database

Sony vs. Universal vs. Warner: Quarterly music publishing revenue in USD (2021-2024)

The three biggest music rights companies in the world all report their finances in different currencies.

US-based Warner Music Group reports in US Dollars. Sony’s music operations – part of Japan-based Sony Corp – report in Yen. And Universal Music Group, which trades on Amsterdam’s Euronext, reports in Euros.

Taking financial information from each company, MBW is able to convert both Sony (Yen) and UMG (Euros) into US dollars (USD) at prevailing quarterly rates, giving a single-currency picture of each firm’s performance.

(Sony provides quarterly average prevailing Yen-USD rates; Universal’s EUR-USD conversion has been made at average quarterly rates as per the European Central Bank.)

The below data visualization compares the quarterly music publishing revenues of each company, converted into USD (aside from WMG, which reports in USD as its ‘root’ currency).