Profits at Sony’s pictures division, which spans film, TV content and channels, climbed from $489 million in the previous financial year to $628 million in the year to March 2020. Revenues at…
’s pictures division, which spans film, TV content and channels, climbed from $489 million in the previous financial year to $628 million in the year to March 2020. Revenues at the division climbed from $8.87 billion to $9.32 billion.The Japanese electronics and entertainment conglomerate reported group profits down by 36% to $5.34 billion for the 2019-2020 financial year that ended in March. Group revenues were down 5% at $75.7 billion .
Sony estimated that the pictures and games and network services divisions both benefited fractionally as usage of content increased. But the music division took a modest hit due to a decrease in usage of music for TV advertisements, restaurants, bars, and due to the cancellation and postponement of events.
Games and network services recorded significant decreases in both revenue and operating income. Sales were down 14% to JPY333 billion, while operating income was 23% lower at JPY238 billion. There were decreases in PlayStation4 hardware sales and lower games software sales, offset partially by increased sales of PlayStationPlus. At the end of March, PSPlus had 41.5 million subscribers, compared with 36.4 million a year earlier and 34.2 ,million in March 2018.
Sony shares traded in Tokyo traded little changed at JPY7,069 apiece prior to the results announcement. In New York, overnight, Sony’s ADRs had closed at $65.59.
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