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Sony Pictures Entertainment Records $762M Full-Year Profit As Corp Doubles Net Income

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deadline.com
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Refresh for latest…: Sony Pictures Entertainment saw its full-year 2020 profits rise 21%, to $762M, despite a 25% decrease in sales to $7.2B.

Both are results of the impact of the coronavirus. With movie theaters shut around the world for a large portion of the year, and amid a production slowdown, revenues were affected.

Conversely, lower spend on theatrical marketing and higher home entertainment sales had a positive effect on profits.Overall, Sony Corp logged a record $10.7B in net income for fiscal 2020, a 101% increase over the previous year thanks in part to the Games and Networks Services, Music and Film divisions.

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