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November 18, 2014

Spider-Man to slingshot Sony movie revenue

Looks to $10bn TV and Movie revenues by 2018.

By Ben Sullivan

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.

"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."

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