Sony Pictures saw its fiscal third-quarter profit jump to $212 million despite the novel coronavirus pandemic continuing to weigh heavily on the theatrical film business.
Sony Corp. reported the film unit's October-to-December results Wednesday in Tokyo.The results represent a significant increase from the studio's profit of $51 million in the same period in 2019, buoyed by lower advertising and marketing costs as cinemas in major markets remained shut amid the pandemic.
There was also much higher television licensing and home entertainment income from titles released in 2019 and from the unit's catalog as people remained at home due to lockdowns.
Read more on hollywoodreporter.com
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