Sony Pictures Full-Year Profit Slips to $774 Million

Sony Pictures Entertainment’s operating income for the full fiscal year ended March 31 fell 4 percent to $774 million from $808 million in dollar terms for the comparable period a year before, with FY sales dipping 4 percent to $9.899 billion from $10.315 billion.

In the fiscal fourth quarter, SPE saw income increase over the previous quarter, rising over 70 percent to $354 million from $208 million. Revenue for Q4 was relatively flat, falling slightly to $2.729 billion from $2.743 billion.

SPE comprises the motion pictures division, television productions and media networks.

The motion pictures unit (which comprises sales from theatrical, home entertainment and streaming sales) saw FY revenue rise 7 percent to $4.008 billion from $3.742 billion. SPE releasing 17 movies in the period, including Tarot, The Garfield Movie, Bad Boys: Ride or Die, Fly Me to the Moon, Harold and the Purple Crayon, It Ends with Us, The Forge, AfrAId, Saturday Night, Venom: The Last Dance, Here, Kraven the Hunter, One of Them Days, I’m Still Here, Heart Eyes, Becoming Led Zeppelin and Paddington in Peru.

Top performers in the FY period were Venom 3 ($479 million), Bad Boys 4 ($405 million), the scandal-plagued It Ends With Us ($351 million) and Garfield ($235 million).

SPE’s TV unit saw FY revenue reach $3.028 billion, down 20 percent from $3.808 billion in the previous fiscal year. SPE’s television productions from the period include Amazon Prime Video’s Wheel of Time and Clean Slate, Netflix’s The Night Agent and Cobra Kai, Starz’s Outlander, Disney+’s Goosebumps and Peacock’s Days of Our Lives and Long Bright River.

FY revenue from media networks (that includes TV channels and digital channels) climbed 3 percent to $2.812 billion from $2.724 billion. The company revealed that it ended the fiscal year to March 31 with 39 television channels and 627 million total subscribers.