Sony Pictures Q2 Loss Widens29 Oct, 2015 By: Erik Gruenwedel
Lower home entertainment, TV license revenue; higher theatrical marketing contributed to $187 million loss
Marvel’s "Spider-Man" has been cash cow to Sony Pictures for years. But with a reboot of the movie franchise not slated to hit theaters for a couple of years, the web-slinger’s absence affected Sony’s bottom line.
The studio, which includes Sony Pictures Home Entertainment, Oct. 29 reported a second-quarter (ended Sept. 30) operating loss of $187 million, compared with an operating loss of $8.2 million during the prior-year period. Revenue decreased 14% (up 0.9% on a Yen basis) to $1.5 billion.
Sony attributed the decline to higher theatrical marketing costs, lower television licensing revenue and lower home entertainment sales compared year-over-year with retail sales of The Amazing Spider-Man 2 and Heaven Is for Real.
Indeed, The Amazing Spider-Man 2 sold more than 2.1 million combined DVD/Blu-ray Discs for $44.3 million in revenue, according to The-Numbers.com. Heaven Is for Real sold more than 1.8 million discs for $34.2 million. The titles ranked 18th and 24th, respectively, among the top-selling 100 discs of 2014.
Sony’s top-selling discs in 2015 remain The Equalizer with Denzel Washington (released Dec. 30, 2014) and World War 2 tank drama Fury, with Brad Pitt. The Equalizer, which ranks as the ninth best-seller of the year, has sold nearly 1.9 million discs for $33.3 million. Fury (14th) has sold 1.5 million discs for $26.3 million since its Jan. 27 retail date.