Home Entertainment Spurs Sony Fiscal-Year Profit Surge13 May, 2010 By: Erik Gruenwedel
DVD/Blu-ray Disc sales from concert rehearsal footage of a deceased pop icon, angels, demons and global Armageddon contributed to Sony Pictures May 13 reporting fiscal-year (ended March 31) operating income of $460 million, compared with operating income of $257 million during the previous fiscal year.
Sony’s studio unit, which includes Sony Pictures Home Entertainment, said theatrical and home entertainment sales from Michael Jackson: This Is It, Angels & Demons and 2012, in addition to improved currency rates, helped increase fiscal year revenue 7% to nearly $7.6 billion.
Tokyo-based parent Sony Corp. disclosed limited fourth-quarter information, stating only that equity interest sales in HBO Latin America and HBO Central Europe generated $236 million.
Overall, Sony Corp. reported a quarterly operating loss of $603 million, compared with an operating loss of $1.8 billion last year, due in part to improved sales of Bravia TVs.
The Japanese consumer electronics giant bows a line of 3D-enabled Bravia units next month.