October 28, 2020
Sony Pictures Home Entertainment Oct. 28 reported second-quarter (ended Sept. 30) revenue of $171 million, which was up 6.8% from revenue of $160 million during the previous-year period. Through six months of the fiscal year (ending March 31, 2021), home entertainment generated $490 million in revenue, which is 36.1% higher than $360 million generated during the same period last year.
Sony has generated strong packaged-media and digital sales from Jumanji: The Next Level, Bad Boys for Life, Little Women, Bloodshot, Spider-Man: Homecoming and Flatliners, among others.
As expected, Sony Pictures theatrical revenue nosedived 98.2% to $13 million due to exhibitor shutdowns from the coronavirus pandemic, and Sony’s decision to delay all major box office releases until 2021. The studio generated box office revenue of $715 million in the previous-year period.
The studio released just two new movies into movie theaters in the quarter: The Broken Hearts Gallery ($4 million) and The Last Shift, which generated zero revenue.
By comparison, Sony in the previous-year period released Spider-Man: Far From Home ($1.13 billion); Once Upon a Time in Hollywood ($356 million), The Angry Birds Movie 2 ($125 million) and Overcomer ($33 million).
Sony Pictures Television revenue grew 24.4% to $529 million, from $425 million last year. Ancillary revenue skyrocketed to $145 million from just $6 million last year.
When also factoring in TV productions ($480 million), media networks ($470 million) and intersegment revenue of $4 million, total motion picture revenue totaled $1.81 billion, down about 25% from revenue of $2.42 billion last year.