Japanaese publishing company Avex Inc. said on Friday (May 15) the company generated $971 million in revenue in its latest fiscal year, showing double-digit growth from the prior fiscal year delivered higher income from concerts by artists like XG.
Revenue from Avex’s Music business, which includes Kehlani co-writer Kamal Wilson, Drake co-writer Elkan and Tate McRae co-writer Grant Boutin on its roster, was up 6.8% $810 million driven primarily by 17.4% growth in live-related revenue of $354 million. Revenue from Avex Music’s digital music distribution business also increased by 12.5% to $103 million on increased streaming.
The company returned to profitability reversing a $12 million loss in fiscal 2024 to generate $27 million in operating profit in fiscal 2025, as the music group notched momentum-building wins like signing Bruno Mars to a global music publishing administration partnership starting this summer.
In April, Avex announced plans to invest $100 million into music copyrights, companies and publishing catalog acquisitions over the coming 12 months. The company said it expects to generate $40 million in operating profit in fiscal 2026 amid these longterm investments.
“Our FY2025 results reflect meaningful progress as we continue transforming Avex into a more globally integrated entertainment and intellectual property company,” said Katsumi Kuroiwa, CEO of Avex. “We are seeing strong momentum across recorded music, publishing, live entertainment, anime, and international rights management while continuing to strengthen the long-term earnings profile of the company. Our strategy remains focused on building world-class artists, creators, and intellectual property with a long-term global perspective.”
Avex’s gross margin expanded to 28.5%, and net income attributable to shareholders improved more than 200% to $24 million.
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