Sony’s film and TV unit earns $281 million in third quarter – The Hollywood Reporter
Anyone but you, from left: Glen Powell, Sidney Sweeney, 2023.
Sony Pictures/Courtesy Everett Collection
Sony Pictures Entertainment saw its fiscal third-quarter earnings reach $281 million, up 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 in the latest period, up from $2.35 billion in the same quarter last year and down from $2.77 billion in the fiscal second quarter.
SPE is primarily comprised of motion pictures, television production and media networks, and of these three segments, only media networks saw revenue growth in Q3 2023 as dual Hollywood strikes impacted film and TV production.
In its fiscal third quarter, the motion picture division saw revenue of $880 million, down from $895 million in the second quarter, but up from $799 million in the same period last year. Last quarter, its film division released Affirm Films Trip to Bethlehemwhich grossed $8 million for Tristar Pictures. Thanksgiving Which grossed $45 million, and was released by Columbia Pictures Napoleon ($208 million) and Anyone but you ($31 million for the ten days calculated during the third quarter).
The motion picture division’s revenue is expected to see an uptick in FY2024, with SPE set to release 14 titles this year, including Ghostbusters: The Frozen Empirelast Bad boys film, Kraven the Hunter And a Poison The company said the supplement.
Television production saw revenues of $883 million, down from the $1.2 billion generated in the second quarter, but up slightly from the $880 million recorded in the same period last year. SPE’s highly successful television operation includes recent blockbusters such as Netflix the crownApple TV+ For all humanity,Disney+ The scream of terrorAmazon Prime Video Wheel of time And Fifth Gen In addition to long-running hit songs such as Days of our lives, Danger! And its various derivatives Shark tank.
Third-quarter revenue at Sony’s Game and Network Services division, a separate entity from SPE that includes PlayStation hardware and software sales as well as PlayStation Network, was $9.8 billion, up 18 percent year over year. The segment was driven by strong sales of the PlayStation 5 console and related games, as well as increased revenue from PlayStation Plus subscriptions. The big release for the video game division last quarter was Marvel Spider-Man 2 For PlayStation 5. Sony revealed that the game had sold 10 million units as of February 4.
Sony’s music division also had a strong quarter, with revenue of $2.77 billion. Among the best-selling acts in the music section during the quarter was SZA (SOS), Travis Scott (The virtuous city), rod wave (Nostalgia for the past(And Doja Cat)carmine).
