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Spider-Man to slingshot Sony movie revenue

Sony is looking to blockbuster movie tie-ins to boost its movie and TV revenues by over a third in the next three years

Sony Pictures Entertainment, the firm behind ‘The Amazing Spider-Man’ movie, is looking to bring in between $10bn and $11bn at the end of the financial year ending March 2018. This is a 36% increase over this year’s forecast, $8.1bn.

Sony Corp CEO Kaz Hirai said to investors: "The entertainment businesses have been profitable for 18 consecutive years, they are a steady source of income for Sony.

"Sony Pictures, which is celebrating 25 years as part of the group, provides a steady stream of income, releasing 90 movies that have taken the number one spot at the U.S. box office.

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"We are positioning our television and movie and movie production businesses as growth sectors for Sony."

Sony Pictures Entertainment CEO Michael Lynton said: "We forecast SPE to have $10-11 billion in sales with a profit margin of seven to eight percent, through, a sharper focus on tentpole releases, along with stronger revenues from the television businesses."

This article is from the CBROnline archive: some formatting and images may not be present.