In comparison to the $232 million (25.4 billion yen) profit, it posted during the same period in 2021, Sony Pictures’ fiscal first-quarter bottom line increased to a profit of $394 million (50.7 billion yen).
The Japanese conglomerate’s pictures segment had a sharp increase in revenue of 41% to $2.64 billion.
From its corporate headquarters in the heart of Tokyo, Sony Corp. released its most recent financial results on Friday. The performance of the company from April to June was reviewed in the report.
According to Sony, greater sales for anime streaming services as a consequence of Sony’s acquisition of anime specialty site Crunchyroll, together with more TV series deliveries, higher licensing with home entertainment income, and higher sales of TV shows all helped the pictures business in the quarter. The company’s sole stumbling block was a lower quantity of theatrical releases compared to the previous year. In contrast to the three theatrical releases the industry made between April and June of 2021, just two theatrical releases were made in the third quarter: Morbius ($167 million in total global sales) and Father Stu ($22 million).
The company’s full-year profit prediction for 2022 stayed unchanged from the previous quarter, at 50 billion yen ($386 million).
The studio announced that 17 films are ready for North American theatrical release over the course of the next 12 months, starting in July. These films include the animated tentpole Spider-Man: Across the Spider-Verse (June 2, 2023) and the extended re-release Spider-Man: No Way Home – The More Fun Stuff Version, which will be released on September 2, 2022.