Sony Pictures Entertainment posted a profit drop of nearly $800 million for the fiscal year ending March 31, 2023.
The division of Sony Corp., which owns the film, television and television production chain, posted a profit of $119.3 billion ($880 million). With no known franchises after 2022, a decline is widely expected.
There is no additional time limit
Revenue for 2022 reached ¥1.37 billion ($10 billion), up 10 percent from last year’s ¥1.24 billion. However, in US dollars, it was down 8 percent, with Sony winning franchises like Spider-Man, No Way Home, and more. Poison in 2021 . Let it be a massacre
Television royalties also fell, with Sony citing a lack of licensing deals Seinfeld 2021 and streaming deals for feature films. However, we benefited from new series offerings and the acquisition of television production companies Industrial Media and Bad Wolf.
However, the anime’s revenue has increased, which is reflected in the acquisition of the streaming service Crunchyroll.
The decrease in operating income was partially explained by the lack of results from GSN Games activities. Sony in 2010 At the end of 2021, he sold his stake to Scopelli for $1 billion. However, there is a general sales discount.
Sony Corporation expects Sony Pictures Entertainment’s revenue to grow 11% next year as movie franchises hit the market and Crunchyroll and its business expand in India. Operating profit is stable, sales are improving, but marketing costs should increase.
Overall, Sony Corp projected revenue of 9.92 trillion yen to 11.54 trillion yen ($85 billion) in 2022, with operating profit of 1.2 trillion yen ($8.9 billion). Game and service revenue rose sharply to 3.64 trillion yen ($27 billion) from 2.74 trillion yen a year earlier, but operating profit fell.
Best delivery time
Sign up for the new newsletter. Follow us on Facebook, Twitter and Instagram for the latest news.
Click here to read the full article.
