Sony Pictures Q1 Home Entertainment Revenue Surged 104% Thanks to ‘Spider-Man: No Way Home’

Sony Pictures Home Entertainment July 29 reported first-quarter FY 2023 revenue of $282 million for the period ended June 30. The tally was up 104% from revenue of $138 million during the previous-year period.

Notable revenue driver included the enduring Spider-Man: No Way Home, which continued to resonate with consumers on digital and packaged media the same way it had at the box office. The latest webslinger actioner generated more than $1.9 billion at the global box office, including more than $804 million across North American screens since its Dec. 15, 2021, release.

At the box office in the first quarter, Sony Pictures was led by Marvel Studios’ Morbius and Mark Wahlberg-starrer Father Stu, which generated a combined $189 million in ticket sales through June 30. Sony’s motion picture revenue topped $953 million, up 31% from $727 million in the prior-year period. In addition to home entertainment, the motion picture segment included revenue from theatrical ($116 million), television production ($151 million), streaming video licensing ($351 million) and “others” ($53 million).

Total studio operating income topped $394 million on revenue exceeding $2.6 billion. That compared with operating income of $232 million on revenue of $1.8 billion during the previous-year period.

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