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Sony Pictures Entertainment Profit Slides Down To $73M In First Quarter

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deadline.com

Sony Pictures Entertainment posted first quarter operating incoming of $73M, down over 36% year-on-year on a U.S. dollar basis.

Revenues also slipped 7% from $2.32B to $2.17B for the three months ended June 30, 2024, despite the performances of films such as The Garfield Movie and Bad Boys: Ride or Die and growth in streaming subs.

Overall, Tokyo-based Sony pointed to a reduced number of theatrical releases and new TV season launches for the financial drops, but noted anime streamer Crunchyroll had swelled the coffers through higher paid subscriptions.

The motion pictures unit was down from $908M in revenue in Q1 2023 to $852M, with falls in the theatrical, television and streaming services units that sit within it.

Read more on deadline.com
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