latest update…: For the fiscal year ending March 31, 2022, Sony Pictures Entertainment had operating income of 217.4 billion yen ($1.67 billion), up 172%. Revenue increased 55% year-on-year to 1.239 billion yen ($9.5 billion).
Motion Pictures got a big boost, with significant jumps mainly due to higher sales across all categories. Spider-Man: No Homecoming It grossed $1,893 million worldwide at the end of March. This is the sixth film at the world box office.
Sony also mentioned higher licensing revenue from digital streaming services for new movie titles and higher licensing revenue for catalog products. Operating income was further boosted by profits of 70 billion yen ($537 million) from the takeover of GSN Games, a division of Game Show Network, partially offset by higher marketing costs from theatrical releases at Motion Pictures. segment.
Please note that Sony also provides aggregated dollar results for SPE that are not reflected in the consolidated financial statements and are not valued according to International Financial Reporting Standards. With these figures, SPE’s operating result for the year was $1,935 million, up 156% from the previous quarter.
Projecting the fiscal year 2022 from Tokyo to March 31, 2023, Sony Corp said today that Sony Pictures Entertainment’s sales are expected to rise 7% in yen. However, the holding plans to reduce the operating profit of the division by more than 50%. This is explained by the expected drop in Motion Pictures sales, as well as the absence of $70 billion in GSN Games transfer earnings, which is included in the 2021 figures.
Fourth-quarter sales in the imaging segment were 312.2 billion yen ($2.4 billion), with operating income of 11 billion yen ($84.4 million). The latter increased significantly after losses in the same period last year.
Overall, Sony Corp. said revenue rose 10% to 9.92 trillion yen ($76 billion). Operating income in yen was up 26% to 1.2 trillion yen ($9.2 billion), while net income fell 14%. The increase was mainly in the image, electronic products and services and music segments.
The company’s fourth-quarter operating profit doubled, jumping from $66.4 billion ($509 million) in the same period a year ago to 138.6 billion yen ($1.06 billion).
Forecasting full-year results for the next 12 months, Sony expects sales to rise 15% but net revenue to drop 6%.
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Source: Deadline
Lloyd Grunewald is an author at “The Fashion Vibes”. He is a talented writer who focuses on bringing the latest entertainment-related news to his readers. With a deep understanding of the entertainment industry and a passion for writing, Lloyd delivers engaging articles that keep his readers informed and entertained.
