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Sony Pictures Posts $212M Profit In Third Quarter As Music Gets Boost From ‘Demon Slayer’ & Corp Ups Full-Year Forecast

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deadline.com
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Sony Pictures Entertainment recorded a $212M profit in the third quarter of Fiscal Year 2020, good for a 316% upward swing versus the similar period in 2019.

The profit increase for the three months ended December 31, 2020 was due to lower theatrical marketing costs and higher TV licensing and home entertainment sales from prior year titles, Sony Corp said in announcing results from Tokyo today.Sales in the Pictures division dropped 17% to $1.8B compared to Q3 last year given the absence of major theatrical releases as a result of the Covid-19 crisis and lower home entertainment and TV licensing sales from the current year titles.The full-year forecast for Sony Pictures grew 50% to 74B yen ($704M), impacted by lower costs related to

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