Sony Pictures Home Entertainment May 10 reported fourth-quarter (ended March 31) revenue of $322 million, which was up 131% from revenue of $139 million during the previous-year period. The revenue uptick was primarily driven by the March 15 digital release of box office blockbuster Spider-Man: No Way Home across all online retail channels. The 2021 box office champion was not released on Blu-ray Disc and DVD until April 12.
For the fiscal year, home entertainment revenue topped $764 million, which was down less than 2% from revenue of $778 million in the prior fiscal year.
Fiscal-year theatrical revenue of more than $1.5 billion skyrocketed from revenue of just $53 million in fiscal year 2020 primarily due to the contribution of Spider-Man: No Way Home and other theatrical releases, as well as higher licensing revenue from digital streaming services for new film titles and higher licensing revenue for catalog product. These increases were partially offset by lower home entertainment and licensing revenue generated from prior year releases, due to the absence of significant theatrical releases in the previous fiscal year.
Indeed, in addition to the timing of the No Way Home packaged-media release, SPHE had just seven 2020 theatrical releases to market in 2021, led by Monster Hunters with a total box office of $38 million. In the FY 2021, Sony released 14 theatrical titles.
Television production revenue increased 27% to more than $1.98 billion from $1.56 billion primarily due to the recording of revenue from the licensing of “Seinfeld” as well as an increase in deliveries of current year titles, as the previous fiscal year was negatively impacted by production delays due to COVID-19. Media Networks revenue for the fiscal year increased 30% to $2.6 billion from $2 billion primarily due to the impact of the acquisition of Crunchyroll.