Music Business News: Japan

Why, in a post-Tencent/Universal world, the three major music companies are worth nearly $90bn

MBW estimates that Universal, Sony and Warner are now collectively worth just shy of $89bn

Spotify is still adding more users across Europe and North America than in Asia, the Middle East and Africa combined

SPOT is reaching less than 1.5% of its potential addressable market outside of Europe and the Americas

BTS ship over a million physical copies of Japanese-language single Lights/Boy With Luv in Japan

Boyband works with Big Hit and Universal Music for their Japanese music

The major labels are close to generating $1m from streaming every hour – but global growth is actually slowing down

MBW analysis shows that global major label streaming revenue growth slowed by 19.1% YoY in the first six months of this year

Lil Nas X helps drive Sony Music streaming revenues up 27% to $605m in last quarter

Major labels now turning over more than $20m from streaming every single day

The birth of Sony Music Group creates a joined-up superpower at the heart of the music business

MBW estimates that SMG will turn over more than $5bn each year, including Japan

Rob Stringer to run new Sony Music Group, housing publishing and records, from August 1

Sony/ATV Music Publishing Chairman and CEO Jon Platt will report to Stringer

Former Spotify Japan executive Akira Nomoto named General Manager, Merlin Japan

Nomoto takes over from Haji Taniguchi