Beyoncé generated significant gains for a major technology company.
The release of “Cowboy Carter” led to a boost for Sony. The album was released on March 29, 2024, in partnership with Beyoncé’s Parkwood Entertainment and Columbia Records. The album featured 27 songs, including “Blackbiird,” “16 Carriages,” “Jolene,” and “Levii’s Jeans.”
As a Houston, TX native, Beyoncé reflected on the album’s creation in an Instagram post, writing,” This album has been over five years in the making. It was born out of an experience that I had years ago where I did not feel welcomed…and it was very clear that I wasn’t. But, because of that experience, I did a deeper dive into the history of Country music and studied our rich musical archive. It feels good to see how music can unite so many people around the world, while also amplifying the voices of some of the people who have dedicated so much of their lives educating on our musical history.”
“Cowboy Carter” magnified the works of some legendary musicians, such as Dolly Parton, Linda Martell, and Willie Nelson, who are featured on the album.
According to Rolling Stone, the artists all saw a significant increase in their streaming numbers on Spotify, including an increase of 127,430% for Martell and an 11,610% jump for Parton’s original “Jolene.”
Artists were not the only ones to benefit from Beyoncé’s album. CNBC reports that Sony Music saw a 10% increase in operating profit for its fiscal first quarter, surpassing analytics expectations.
“Cowboy Carter” was listed among Sony Music Entertainment’s top 10 best-selling projects in the first quarter.
It is also one of the biggest albums of the year at the time, alongside Taylor Swift’s “The Tortured Poets Department.” Future and Metro Boomin’s “We Don’t Trust You” and SZA’s “SOS” are also listed for helping to boost Sony’s first-quarter sales, per CNBC.
Additionally, CNBC reported Sony’s music division had a 23% revenue jump.
