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Revenues Down at Sony Pictures in Q2


Revenues at Sony Pictures fell by 25 percent ($615 million) in the second quarter, largely as a result of lower theatrical revenues.

The division of the Japanese conglomerate also reported lower ad revenues at its media networks as a result of COVID-19. The segment posted reduced revenues from TV production. Meanwhile, television licensing and film home entertainment revenues were up.

Operating income at the segment fell to $304 million.

For the full year, Sony Pictures is projecting higher than expected home entertainment and TV licensing sales in motion pictures and a recovery of ad sales in its media networks. It expects it will continue to have delays in theatrical releases as a result of the pandemic.

Overall revenues at Sony Corporation were stable at 2.1 trillion yen, with net income soaring to 460 billion yen.

About Mansha Daswani

Mansha Daswani is the editor and associate publisher of World Screen. She can be reached on [email protected]


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