Sony’s global music business reported quarterly revenue of 562 billion yen (£2.8 billion/$3.53 billion), up 20% year on year, driven by streaming, live events, merchandise and physical sales. The performance lifted music to Sony’s second-largest division by sales after Games & Network Services and led the company to raise its full-year sales and operating-income forecasts.

Recorded-music streaming revenue rose 21% to 237.1 billion yen, while other recorded-music sales—covering physical products, downloads, live performances and merchandise—increased 36% to 143.9 billion yen; physical sales alone grew 14%. Publishing revenue climbed 17.5% to 116 billion yen, operating income rose 14% to 105.9 billion yen, and Sony also completed a roughly $3.9 billion music-catalogue acquisition, reportedly linked to Recognition Music Group’s assets.