Spider-Man: No Way Home (photo courtesy Sony Pictures)
Sony Pictures Home Entertainment Explodes Half-Year Revenue 57% to $422 Million
October 31, 2022
Thank goodness for superheroes, video games and anti-heroes.
All factored prominently Nov. 1 for Sony Pictures Home Entertainment, which reported second-quarter (ended Sept. 30) revenue of $140 million, which was up nearly 8% from revenue of $130 million during the previous-year period. Through half of the 2023 fiscal year, sales of digital and physical movies and TV shows topped $422 million, a 57.4% increase from $268 million in revenue during the same period a year ago.
The studio continues to be led by the retail releases of Spider-Man: No Way Home — the top-selling packaged media release in 2022 — Ghostbusters: Afterlife, Uncharted, Venom: Let There Be Carnage and Morbius, among others.
Notably, home entertainment revenue topped Sony Pictures Entertainment’s theatrical revenue, which was more than $332 million through six months. That was up 146% from box office revenue of $135 million during the same period in 2021.
Top-performing theatrical releases in the quarter included Bullet Train ($233 million), Where the Crawdads Sing ($132 million), The Woman King ($44 million) and The Invitation ($32 million). That compared with previous-year releases Escape Room: Tournament of Champions ($53 million), Don’t Breathe 2 ($50 million) and Show Me the Father ($2 million).
Streaming services revenue, which includes license revenue from third-party streaming SVOD/AVOD platforms, topped $320 million, which is down almost 25% from revenue of $431 million during the previous-year quarter. For half of the fiscal year, streaming revenue reached $671 million, down 13% from revenue of $771 million during the same period in fiscal 2022.
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