Sony Group (6758.T): Sony (6758.T): Management briefing report (June 2026): Music aims at expanding revenue opportunities via catalog assets

研报英文原文证据摘录

Sony Group (6758.T): Sony (6758.T): Management briefing report (June 2026): Music aims at expanding revenue opportunities via catalog assets

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17 Jun 2026 05:19:06 ET │ 11 pages

Sony Group (6758.T)

Sony (6758.T): Management briefing report (June 2026): Music aims at

expanding revenue opportunities via catalog assets

CITI’S TAKE Neutral

On the morning of June 17, Sony held a roundtable meeting for sell-side Price (17 Jun 26 15:30) ¥3,286.0

analysts with Sony Music Group’s Rob Stringer, Kevin Kelleher, Dennis Target price ¥3,600.0

Kooker, and Angela Lopes in attendance. This meeting focused on

Expected share price return 9.6% opportunities and risks that generative AI brings to the music business,

the RoI on music catalog investments, ARPU improvement measures to Expected dividend yield 0.8%

expand streaming revenue, and growth potential in emerging markets Expected total return 10.3%

such as Brazil and China. Management was consistently bullish on these Market Cap ¥19,351,225M

topics. We believe this confidence stems from Sony’s extensive music US$121,549M

catalog assets and strong negotiating power with DSPs (Digital Service

Providers).

Masahiro ShibanoACMusic business details — For the music business direction in the AI era, Sony

emphasizes aggressive investment in catalog assets and building partnerships. The +81-3-6776-4641

agreement with Klay Vision exemplifies this approach, and we could see continued masahiro.shibano@citi.com

announcements of new licensing agreements. Management says music catalogs offer Tokiya Baba

diverse revenue opportunities, citing Michael Jackson’s film “Michael” released on +81-3-6776-4618

April 26 as an example of multimedia deployment that has increased streaming tokiya.baba@citi.com

revenue.