King & Prince just sold 1.2 million physical copies of their album Mr.5 in its first week in Japan, becoming the fastest-selling album on the market this year
MBW’s Stat Of The Week is a series in which we highlight a data point that deserves the attention of the global music industry. Stat Of the Week is powered by Cinq music groupa technology-focused record label, distribution and rights management company.
In the first quarter of 2023 one of Universal Music GroupAlongside Morgan Wallen, Taylor Swift and TOMORROW
Universal Music Group reported Last month, the company announced its total recorded music revenue for the first quarter of 2023 (including streaming plus physical music, etc.). 1.923 billion euros ($2.06 billion), high 9.6% YoY with constant currency.
Physical sales increased in Universal’s recorded music business 32.6% YoY currency adjusted to 313 million euros ($335.84 million).
UMG said that growth was driven “by strong CD and DVD sales in Japan and improvements in vinyl sales.”
Superstars King & Prince, signed through Universal Music Japan, contributed to these strong sales and UMG’s overall recorded music revenues.
As highlighted by the Chairman and CEO of UMG Sir Lucian Grainge Following an April 26 conference call the company held with analysts, King & Prince sold 1 million CD copies of their single Life goes on in the first week.
Grainge noted that this was “the first time the sales threshold had been exceeded in three years.”
After the success of Life goes onKing & Prince and Universal Music Japan continued to sell many physical music in the market.
According to UMG, the group has now set the record for fastest-selling products in 2023 album in Japan, with the release of their compilation album, Mr 5 (released April 19).
The album grossed more than $100 million in physical sales 1.2 million in the first week.
The “Best of” album was also the band’s fifth consecutive album to debut at No. 1 on the Oricon weekly album chart in Japan, and is the first album of 2023 to gain more momentum in its first week in Japan sold more than a million copies.
Since their debut in 2018, King & Prince have become one of Japan’s most popular groups.
Mr 5 marks the band’s fastest-selling album to date, achieving more than CD sales 1.03 million copies in the first 48 hours, with 916,000 Sales on the first day of sale.
This is the band’s fifth consecutive album to top the Oricon Albums Chart. All five albums grossed more than $100 million in domestic sales in their first week 300,000 copies.
“This shows that physical CDs still have great potential in Japan as a product that allows artists to express their creativity and entertain their fans.”
Naoshi Fujikura, Universal Music Japan
Naoshi Fujikura, President and CEO of Universal Music Japan, said of the chart success, “King & Prince have been Japan’s top boy band since their debut in 2018, with every single single, album and video they have produced , reached #1.” on the charts.
“We are delighted that this album, which represents the culmination of this phase of their activities, has become the best-selling album in Japan this year, selling over one million copies upon its release.
“At the same time, it shows that physical CDs in Japan still have great potential as a product for artists to express their creativity and entertain their fans.” We will continue to support all of their activities to help them achieve future success.”
According to RIAJ data, CD sales revenue in Japan, the world’s second largest music market, exceeded 129.8 billion yen ($987 million) in 2022, up 5% year-on-year (see below).
In terms of other physical formats, vinyl sales generated 4.336 billion yen (US$32.9 million) in revenue in 2022, up 11% year-on-year.
Cinq Music Group’s repertoire has won Grammy Awards, dozens of Gold and Platinum RIAA certifications, and numerous #1 chart positions on various Billboard charts. His repertoire includes heavyweights like Bad Bunny, Janet Jackson, Daddy Yankee, TI, Sean Kingston, Anuel and hundreds more.music business worldwide
https://www.musicbusinessworldwide.com/king-prince-just-sold-1-2m-physical-copies-of-their-album-mr-5-in-its-first-week-in-japan-becoming-the-markets-fast-selling-album-this-year/ King & Prince just sold 1.2 million physical copies of their album Mr.5 in its first week in Japan, becoming the fastest-selling album on the market this year