Sony Pictures Entertainment (SPE) reported a fiscal third-quarter profit of $281 million, a significant increase from $179 million in the same period last year and $204 million in the previous quarter. The film and television unit’s revenue reached $2.47 billion, up from $2.35 billion in the year-ago quarter but down from $2.77 billion in the fiscal second quarter.
SPE consists mainly of motion pictures, television productions, and media networks. In Q3 2023, only media networks saw revenue growth, as film and television productions were impacted by the dual Hollywood strikes.
Motion Pictures: The motion picture division generated $880 million in revenue, a decrease from $895 million in the second quarter but an increase from $799 million in the same period last year. Key releases included:
- Journey to Bethlehem (Affirm Films) – $8 million
- Thanksgiving (Tristar Pictures) – $45 million
- Napoleon (Columbia Pictures) – $208 million
- Anyone But You (Columbia Pictures) – $31 million (for the 10 days counted within the third quarter)
The motion picture division is expected to see revenue growth in fiscal year 2024, with 14 titles set for release, including Ghostbusters: Frozen Empire, a new Bad Boys film, Kraven the Hunter, and a Venom sequel.
Television Productions: Television productions recorded $883 million in revenue, down from $1.2 billion in the second quarter but slightly up from $880 million in the year-ago period. SPE’s successful television operations include:
- The Crown (Netflix)
- For All Mankind (Apple TV+)
- Goosebumps (Disney+)
- The Wheel of Time and Gen V (Amazon Prime Video)
- Long-running shows like Days of Our Lives, Jeopardy!, and Shark Tank
Game & Network Services: Sony’s Game & Network Services division, separate from SPE, reported $9.8 billion in third-quarter revenue, an 18 percent year-over-year increase. The segment’s growth was driven by strong PlayStation 5 console and game sales, as well as increased PlayStation Plus subscriptions. The major release in this quarter was Marvel’s Spider-Man 2 for PlayStation 5, which sold 10 million units as of February 4.
Music Division: Sony’s music division also had a strong quarter, with revenue reaching $2.77 billion. Top-selling acts for the quarter included SZA (SOS), Travis Scott (UTOPIA), Rod Wave (Nostalgia), and Doja Cat (Scarlet).
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