Sony: Maximizing the Catalog into the AI Boon - Music Meeting Takeaways

Research evidence excerpt

Sony: Maximizing the Catalog into the AI Boon - Music Meeting Takeaways

Media, Entertainment & Telecom

SONY GROUP CORPORATION (6758) June 17, 2026

Sony: Maximizing the Catalog into the AI Boon - Music Rating:

Meeting Takeaways Outperform

Price:

Sony Music's sell-side Q&A strengthened our conviction in growth underpinned ¥3,275.00

by disciplined catalog investments, global service & distribution scale, AI & DSP Price Target:

¥4,700execution, and expanding monetization. We expect sustained topline growth & % Upside:

margin expansion. Reiterate Outperform, PT ¥4,700. 43.5%

As the largest music publisher & 2nd largest record label, Sony Music Entertainment Source: FactSet, Wolfe Research

(SME) is a key driver of Sony's earnings profile, generating > 25% of Group operating Priced as of 06/16/26

profits on ~18% of revenue. SME's leadership led by Chairman & CEO Rob Stringer

addressed key investor concerns - AI disruption, catalog investments, artists costs,

and DSP deals - arguing that Sony's content ownership, global distribution &

services, and licensing ecosystem support durable, LT growth.

AI adoption an upside catalyst: With litigation of Suno & Udio and the Ronald Song

announced Spotify mixing tool using UMG content, AI is the key investor focus. rsong@wolferesearch.com(646) 582-9327

Management stressed that Sony is not opposed to AI, but seeks transparent, rights- View 6758 Model

respecting partnerships with clear attribution & economic alignment, citing its Peter Supino

agreement with Klay as a template. SME views tiered mixing tools as a potential psupino@wolferesearch.com

premium monetization layer that activates consumer engagement & expands (646) 582-9330

View Peter’s Research

catalog utilization. If implemented with appropriate rights protections & attribution,