'Spidey' Home Entertainment Softens Sony Pictures Q2 Loss31 Oct, 2014 By: Erik Gruenwedel
Home entertainment sales (physical and digital) of The Amazing Spider-Man 2 and Heaven Is For Real, coupled with TV licensing sales of Men in Black 3 and The Amazing Spider-Man, helped Sony Pictures narrow a second-quarter (ended Sept. 30) operating loss nearly 95%.
The studio Oct. 31 reported an operating loss of $10 million, compared with a $181 million operating loss during the prior-year period. Revenue increased 2.4% to more than $1.6 billion.
Sony Pictures, which includes Sony Pictures Home Entertainment and Sony Pictures Television, generated $893 million in revenue from movies, $406 million from TV productions (production, acquisition, and distribution of TV programing), and $370 million from media networks (TV and digital networks).
Amazing Spider-Man 2 generated $709 million at the global box office, including $203 million domestically since its May 2 debut. Heaven Is For Real generated more than $101 million at the global box office, including $91 million domestically.
Indeed, the Christian docudrama has generated $28.1 million in home video revenue, including 1.5 million discs sold since its July 22 retail release, according to The-Numbers.com. ASM2 has generated $36.1 million in home video revenue, including more than 1.6 million discs sold since its Aug. 19 retail release.