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  • FY-16: Games, Music dampen Mobile’s drop in Sony revenue; reports profit

    FY-16: Games, Music dampen Mobile’s drop in Sony revenue; reports profit

    BENGALURU:  Sony Corporation (Sony) reported 1.3 percent drop in sales for the year ended 31 March 2016 (FY-16, current year). Sony’s revenue for the current year was ¥8,105.7 billion, for the previous year it was ¥8,215.9 billion. Sony attributes the decrease to a decline of 20 percent in sales of its Mobile Communications (MC) segment which was offset by a 11.8 percent increase in sales of its Games and Network Services (G&NS) segment, and a 10.4 percent in sales from its Music segment. The increase in sales from Sony’s G&NS segment reflects an increase in sales of its PlayStation 4 (PS4).

    Sony’s reported net income attributable to stockholders at ¥147.8 billion for the current year as compared to a loss of ¥126 billion yen in the previous year.

    Of special significance from the India perspective was the increase in Media Networks sales which was primarily due to higher advertising revenues in India and the United Kingdom. The Media Networks is a category in Sony’s Pictures segment.

    Mobile Communications

    MC segment reported 20 percent drop in sales in FY-16 to ¥1,127.5 billion from ¥1,410.2 billion in the previous year. The segment reported a lower operating loss of ¥61.4 billion as compared to an operating loss ¥217.6 billion in the previous year. The company says that this was because of a strategic decision not to pursue scale in order to improve profitability.

    Game & Network Services

    G&NS segment reported an increase of 11.8 percent in sales to ¥1,551.9 billion in the current year as compared to ¥1,388 billion in the previous year. The above mentioned gains from PS4 were offset by a decline in PS3 hardware and software sales. Operating income in FY-16 increased 84.4 percent in the current year to ¥88.7 billion from ¥48.1 billion in the previous year. Sony attributes the increase to increase in PS4 software sales and PS4 hardware cost reductions as well as the absence of write down of ¥11.2 billion in the current year of PS Vita and PS TV components that was recorded in FY-15.

    Imaging Products & Solutions (IP&S)

    IP&S segment reported a 1.7 percent decline in sales in FY-16 to ¥712.2 billion as compared to ¥723.9 billion in the previous year. Sony says that sales of video cameras and digital cameras were lower due to the contraction of the market. This segment reported a 72.1 increase in operating profit in FY-16 at ¥72.1 billion from ¥41.8 billion in the previous year. The increase was due to improvement in product mix of digital cameras and price reductions.

    Home Entertainment & Sound (HE&S)

    HE&S segment reported a 6.4 percent decline in sales in FY-16 to ¥1,159 billion from ¥1,238.1 billion in FY-15. Sony says that this was due to a decline in unit sales of LCD televisions and a decline in home audio and video unit sales, reflecting a contraction of the market. Television sales declined 4.5 percent in FY-16 to ¥797.8 billion as compared to last year.

    The segment’s operating income increased to ¥50.6 billion in the current year from ¥24.1 in FY-15, primarily due to cost reductions and increase in product mix.

    Devices

    Devices segment revenue in FY-16 was flat (increased by 0.9 percent) to ¥735.8 billion from ¥927.1 billion in FY-15. The segment reported an operating loss of ¥28.6 billion in the current year as compared to an operating profit of ¥89 billon in FY-15.

    Pictures

    Pictures segment sales increased 6.8 percent to ¥938.1 billion in FY-16 from ¥878.7 billion in the previous year. Sony’s Pictures segment is primarily comprises of Motion Pictures, Televisions Productions and Media Networks categories. The impact of forex rates and lower sales in Motion Pictures was offset by higher sales in Televisions Productions and Media Networks. The increase in Media Networks was primarily due to higher advertising revenues in India and the United Kingdom. The increase in Television Productions sales was primarily due to higher subscription video-on-demand (VOD) revenues from Breaking Bad, The Blacklist and Better call Saul.

    Operating income for the segment declined 51.9 percent in the current year to ¥38.5 billion from ¥58.5 billion in FY-15.

    Music

    Sony’s Music segment comprises of Recorded Music, Music Publishing and Visual Media and Platform categories. The segment reported a 10.4 percent increase in sales to ¥617.6 billion in FY-16 from ¥559.2 billion in FY-15. Sony says that the increase was primarily due to the depreciation of the yen versus the US dollar. There was a significant increase in Visual Media and Platform sales reflecting the continued strong performance of a game application for mobile devices. In Recorded Music digital streaming revenues significantly increased, partially offset by a worldwide decline in physical and digital download sales. The current year includes the record breaking sales of Adele’s new album 25. Other best-selling titles include One Direction’s Made in the A.M., David Bowie’s Black Star and Meghan Trainor’s Title.

    The segment’s operating income increased 44.1 percent in FY-16 to ¥87.3 billion from ¥60.6 billion in the previous year.

    Besides the above, Sony has two other segments – Financial Services and All Other services. Numbers of these segments have not been mentioned in this report.

  • FY-16: Games, Music dampen Mobile’s drop in Sony revenue; reports profit

    FY-16: Games, Music dampen Mobile’s drop in Sony revenue; reports profit

    BENGALURU:  Sony Corporation (Sony) reported 1.3 percent drop in sales for the year ended 31 March 2016 (FY-16, current year). Sony’s revenue for the current year was ¥8,105.7 billion, for the previous year it was ¥8,215.9 billion. Sony attributes the decrease to a decline of 20 percent in sales of its Mobile Communications (MC) segment which was offset by a 11.8 percent increase in sales of its Games and Network Services (G&NS) segment, and a 10.4 percent in sales from its Music segment. The increase in sales from Sony’s G&NS segment reflects an increase in sales of its PlayStation 4 (PS4).

    Sony’s reported net income attributable to stockholders at ¥147.8 billion for the current year as compared to a loss of ¥126 billion yen in the previous year.

    Of special significance from the India perspective was the increase in Media Networks sales which was primarily due to higher advertising revenues in India and the United Kingdom. The Media Networks is a category in Sony’s Pictures segment.

    Mobile Communications

    MC segment reported 20 percent drop in sales in FY-16 to ¥1,127.5 billion from ¥1,410.2 billion in the previous year. The segment reported a lower operating loss of ¥61.4 billion as compared to an operating loss ¥217.6 billion in the previous year. The company says that this was because of a strategic decision not to pursue scale in order to improve profitability.

    Game & Network Services

    G&NS segment reported an increase of 11.8 percent in sales to ¥1,551.9 billion in the current year as compared to ¥1,388 billion in the previous year. The above mentioned gains from PS4 were offset by a decline in PS3 hardware and software sales. Operating income in FY-16 increased 84.4 percent in the current year to ¥88.7 billion from ¥48.1 billion in the previous year. Sony attributes the increase to increase in PS4 software sales and PS4 hardware cost reductions as well as the absence of write down of ¥11.2 billion in the current year of PS Vita and PS TV components that was recorded in FY-15.

    Imaging Products & Solutions (IP&S)

    IP&S segment reported a 1.7 percent decline in sales in FY-16 to ¥712.2 billion as compared to ¥723.9 billion in the previous year. Sony says that sales of video cameras and digital cameras were lower due to the contraction of the market. This segment reported a 72.1 increase in operating profit in FY-16 at ¥72.1 billion from ¥41.8 billion in the previous year. The increase was due to improvement in product mix of digital cameras and price reductions.

    Home Entertainment & Sound (HE&S)

    HE&S segment reported a 6.4 percent decline in sales in FY-16 to ¥1,159 billion from ¥1,238.1 billion in FY-15. Sony says that this was due to a decline in unit sales of LCD televisions and a decline in home audio and video unit sales, reflecting a contraction of the market. Television sales declined 4.5 percent in FY-16 to ¥797.8 billion as compared to last year.

    The segment’s operating income increased to ¥50.6 billion in the current year from ¥24.1 in FY-15, primarily due to cost reductions and increase in product mix.

    Devices

    Devices segment revenue in FY-16 was flat (increased by 0.9 percent) to ¥735.8 billion from ¥927.1 billion in FY-15. The segment reported an operating loss of ¥28.6 billion in the current year as compared to an operating profit of ¥89 billon in FY-15.

    Pictures

    Pictures segment sales increased 6.8 percent to ¥938.1 billion in FY-16 from ¥878.7 billion in the previous year. Sony’s Pictures segment is primarily comprises of Motion Pictures, Televisions Productions and Media Networks categories. The impact of forex rates and lower sales in Motion Pictures was offset by higher sales in Televisions Productions and Media Networks. The increase in Media Networks was primarily due to higher advertising revenues in India and the United Kingdom. The increase in Television Productions sales was primarily due to higher subscription video-on-demand (VOD) revenues from Breaking Bad, The Blacklist and Better call Saul.

    Operating income for the segment declined 51.9 percent in the current year to ¥38.5 billion from ¥58.5 billion in FY-15.

    Music

    Sony’s Music segment comprises of Recorded Music, Music Publishing and Visual Media and Platform categories. The segment reported a 10.4 percent increase in sales to ¥617.6 billion in FY-16 from ¥559.2 billion in FY-15. Sony says that the increase was primarily due to the depreciation of the yen versus the US dollar. There was a significant increase in Visual Media and Platform sales reflecting the continued strong performance of a game application for mobile devices. In Recorded Music digital streaming revenues significantly increased, partially offset by a worldwide decline in physical and digital download sales. The current year includes the record breaking sales of Adele’s new album 25. Other best-selling titles include One Direction’s Made in the A.M., David Bowie’s Black Star and Meghan Trainor’s Title.

    The segment’s operating income increased 44.1 percent in FY-16 to ¥87.3 billion from ¥60.6 billion in the previous year.

    Besides the above, Sony has two other segments – Financial Services and All Other services. Numbers of these segments have not been mentioned in this report.

  • Q3-2016: Sony mobiles & devices div offset gains from games & pictures segments

    Q3-2016: Sony mobiles & devices div offset gains from games & pictures segments

    BENGALURU: Sony Corporation reported almost flat (up 0.5 per cent) YoY sales and operating revenue (sales revenue) in the quarter ended 31 December, 2015 (Q3-2015, current quarter). However, net income attributable to stockholders (net income) was 23 per cent higher YoY. Sony reported sales of  ?2580.8 billion as compared to the ?2466.7 billion in Q3-2015. The company reported net income attributable to Sony shareholders of ?95.25 billion in Q3-2016 as compared to f ?79.96 billion in the corresponding year ago quarter.

     

    Sony says that sales were essentially flat YoY mainly due to due to increases in Game & Network Services (G&NS) segment sales, reflecting a significant increase in PlayStation4 (PS4) software sales, and in Pictures segment sales, reflecting a significant increase in Motion Pictures sales, substantially offset by decreases in Mobile Communications (MC) segment sales, reflecting a significant decrease in smartphone unit sales, and in Devices segment sales, primarily reflecting a significant decrease in image sensor sales. On a constant currency basis, sales were essentially flat year-on-year says the company.

     

    Segment Performance

     

    Mobile Communications

    Sony’s MC segment reported a 14.7 per cent decline in sales to ?384.5 billion in the current quarter as compared to the ?450.9 billion in Q3-2015, which Sony says was due to a significant decrease in smartphone unit sales resulting from a strategic decision not to pursue scale in order to improve profitability.

     

    Consequently the segment reported a higher operating profit of ?24.1 billion in Q3-2016 as compared to ?10.4 billion in Q3-2015. Sony says that this was due to an improvement in product mix reflecting a shift to high value-added models, as well as reductions in costs including marketing, research and development and other selling, general and administrative expenses, partially offset by the above-mentioned decrease in smartphone unit sales and the negative impact of the appreciation of the US dollar, reflecting the high ratio of US dollar-denominated costs.

     

    Game & Network Services (G&NS)

    GN&S segment reported a 10.5 per cent increase in sales to ?531.5 billion in Q3-2016 as compared to the ?309.5 million in Q3-2015, which Sony says was primarily due to an increase in PS4 software sales as well as the impact of foreign exchange rates, partially offset by a decrease in PlayStation3 (PS3) software sales.

     

    This segment’s Operating Income increased 45.5 per cent to ?40.2 billion in Q3-2016 as compared to the ?27.6 billion in Q3-2015. The gain due to to the increase in PS4 software sales as well as the absence in the current quarter of an 11.2 billion yen write-down of PS Vita and PS TV components recorded in the same quarter of the previous fiscal year. Partially offsetting the increase in operating income were the negative impact of the appreciation of the US dollar, reflecting the high ratio of US dollar-denominated costs, and the decrease in PS3 software sales.

     

    Imaging Products & Solutions (IP&S)

    IP&S segment reported a five per cent decline in sales to ?191.9 billion in the current quarter as compared to the ?201.9 billion in Q3-2015 due to decreases in unit sales of video cameras and digital cameras reflecting a contraction of the market, partially offset by an improvement in the product mix of digital cameras reflecting a shift to high value-added models.

     

    IP&S operating income increased 28.6 per cent to ?25.9 billion in Q3-2016 as compared to the ?20.1 billion in Q3-2015. During the current quarter there was a 1.9 billion yen positive impact from foreign exchange rate fluctuations says Sony.

     

    Home Entertainment & Sound (HE&S)

    Sony’s HE&S segment reported 4.3 per cent decline in revenue to ?402.2 billion in the current quarter as compared to the ?420.2 billion in Q3-2015 due to a decrease in unit sales of LCD televisions, and a decrease in home audio and video unit sales, reflecting a contraction of the market, as well as the impact of foreign exchange rates, partially offset by an improvement in the product mix of LCD televisions, reflecting a shift to high value-added model.

     

    HE&S operating income reported 19.8 per cent growth in operating income to ?31.2 billion in Q3-2016 as compared to the ?26 billion in Q3-2015 reductions and an improvement in product mix, partially offset by the negative impact of the appreciation of the US dollar, reflecting the high ratio of US dollar-denominated costs, as well as the impact of the above-mentioned decrease in sales.

     

    In Television, sales were flat YoY as ?288.5 billion. This was primarily due to a decrease in LCD television unit sales resulting from a strategic decision not to pursue scale in order to improve profitability and the impact of foreign exchange rates, substantially offset by the improvement in product mix reflecting a shift to high value-added models. Operating income increased ?6.6 billion yen YoY to ?15.9 billion. This increase was primarily due to cost reductions and the improvement in product mix, partially offset by the negative impact of the appreciation of the US dollar, reflecting the high ratio of US dollar-denominated costs, and the impact of the decrease in unit sales.

     

    Devices

    Devices Sales reduced 12.6 per cent YoY to ?249.9 billion in the current quarter from ?285.9 billion. This increase was primarily due to the impact of foreign exchange rates and an increase in demand for image sensors, partially offset by a decrease in battery business sales. Sales to external customers increased 17.3 per cent YoY.

     

    Operating income of the segment in Q3-2016 increased ?4.4 billion YoY to ?32.7 billion from ?28.3 billion in Q3-2015. This decrease was primarily due to a significant decrease in sales of image sensors, reflecting a decrease in demand for mobile products, and a significant decrease in battery business sales. This sales decrease was partially offset by an increase in sales of camera modules, which were lower than originally forecasted and the impact of foreign exchange rates. Sales to external customers decreased 7.5 per cent year-on-year.

     

    The segment reported an operating loss of ?11.7 billion in the current quarter as compared to an operating profit of ?53.8 billion in Q3-2015. This deterioration was primarily due to the deterioration in the operating results of the battery business, including the recording of a ?30.6 billion impairment charge related to long-lived assets, increases in depreciation and amortisation expenses as well as in research and development expenses for image sensors and camera modules, and the impact of the decrease in sales of image sensors.

     

    Pictures

    Sony’s Pictures segment reported 26.9 per cent growth in sales to ?262.1 billion in Q3-2016 as compared to the ?206.6 billion in Q3-2015. The increase in sales on a US dollar basis was primarily due to significantly higher sales for Motion Pictures, partially offset by the impact of foreign exchange rates. The increase in Motion Pictures sales was primarily driven by higher theatrical revenues, as the current quarter benefitted from the strong worldwide theatrical performances of Spectre and Hotel Transylvania 2, partially offset by lower home entertainment revenues, as the same quarter of the previous fiscal year benefitted from the home entertainment performances of 22 Jump Street and The Equalizer.

     

    Operating income in the current quarter more than tripled (3.27 time) at ?20.4 billion YoY from ?6.2 billion from ?1 billion in Q3-2014 due to the impact of the above-mentioned increase in sales, partially offset by higher theatrical marketing expenses. The increase in operating income also reflects lower overhead expenses as compared to the same quarter of the previous fiscal year, primarily due to a reduction in incentive compensation expense as well as insurance recoveries related to losses incurred from the cyberattack on SPE’s network and IT infrastructure in the fall of 2014.

     

    Music

    Music reported 8.2 per cent increase in sales to ?18.1 billion in Q3-2016 as compared to the ?167.5 billion in Q3-2015 due to the impact of the depreciation of the yen against the US dollar. Sony says that the increase in sales on a constant currency basis was due to higher Recorded Music sales, reflecting an increase in digital streaming revenue, and higher Visual Media and Platform sales, reflecting the strong performance of a game application for mobile devices. The current quarter includes record-breaking sales of Adele’s new album 25. Other best-selling titles included One Direction’s Made in the A.M., Elvis Presley’s If I Can Dream: Elvis Presley with the Royal Philharmonic Orchestra and Bruce Springsteen’s The Ties That Bind: The River Collection.

     

    Operating income increased ?1.5 billion year-on-year to ?27.4 billion ($228 million). This increase was primarily due to the above-mentioned increase in sales in Recorded Music and Visual Media and Platform.

     

    Operating income increased ?2.4 billion to ?14.6 billion. This increase was primarily due to an improvement in product mix, reflecting an increase in digital streaming revenues says Sony.

     

    Financial services

    Financial services increased 5.6 per cent YoY to ?322.0 billion primarily due to an increase in revenue at Sony Life. Revenue at Sony Life increased 5.7 per cent year-on-year to ?295.0 billion mainly due to an increase in insurance premium revenue reflecting a steady increase in policy amount in force.

     

    Operating income of ?52.2 billion was recorded, essentially flat YoY. At Sony Life, operating income of ?51.6 billion was recorded, essentially flat YoY, mainly due to the above-mentioned increase in insurance premium revenue, substantially offset by an increase in operating expenses.

     

    Other

    Sales decreased 17.7 per cent YoY in Q3-2016 to ?5196.8 billion.

    Operating income of ?515.7 billion was recorded in Q3-2016, compared to an operating loss of ?5112.6 billion in the same quarter of the previous fiscal year. This improvement was primarily due to a decrease in PC exit costs, including restructuring charges and after-sales service expenses, as well as the absence in the current quarter of sales company fixed costs charged to the PC business in the same quarter of the previous fiscal year, which were allocated based on the prior year results says Sony.

     

  • Q3-2016: Sony mobiles & devices div offset gains from games & pictures segments

    Q3-2016: Sony mobiles & devices div offset gains from games & pictures segments

    BENGALURU: Sony Corporation reported almost flat (up 0.5 per cent) YoY sales and operating revenue (sales revenue) in the quarter ended 31 December, 2015 (Q3-2015, current quarter). However, net income attributable to stockholders (net income) was 23 per cent higher YoY. Sony reported sales of  ?2580.8 billion as compared to the ?2466.7 billion in Q3-2015. The company reported net income attributable to Sony shareholders of ?95.25 billion in Q3-2016 as compared to f ?79.96 billion in the corresponding year ago quarter.

     

    Sony says that sales were essentially flat YoY mainly due to due to increases in Game & Network Services (G&NS) segment sales, reflecting a significant increase in PlayStation4 (PS4) software sales, and in Pictures segment sales, reflecting a significant increase in Motion Pictures sales, substantially offset by decreases in Mobile Communications (MC) segment sales, reflecting a significant decrease in smartphone unit sales, and in Devices segment sales, primarily reflecting a significant decrease in image sensor sales. On a constant currency basis, sales were essentially flat year-on-year says the company.

     

    Segment Performance

     

    Mobile Communications

    Sony’s MC segment reported a 14.7 per cent decline in sales to ?384.5 billion in the current quarter as compared to the ?450.9 billion in Q3-2015, which Sony says was due to a significant decrease in smartphone unit sales resulting from a strategic decision not to pursue scale in order to improve profitability.

     

    Consequently the segment reported a higher operating profit of ?24.1 billion in Q3-2016 as compared to ?10.4 billion in Q3-2015. Sony says that this was due to an improvement in product mix reflecting a shift to high value-added models, as well as reductions in costs including marketing, research and development and other selling, general and administrative expenses, partially offset by the above-mentioned decrease in smartphone unit sales and the negative impact of the appreciation of the US dollar, reflecting the high ratio of US dollar-denominated costs.

     

    Game & Network Services (G&NS)

    GN&S segment reported a 10.5 per cent increase in sales to ?531.5 billion in Q3-2016 as compared to the ?309.5 million in Q3-2015, which Sony says was primarily due to an increase in PS4 software sales as well as the impact of foreign exchange rates, partially offset by a decrease in PlayStation3 (PS3) software sales.

     

    This segment’s Operating Income increased 45.5 per cent to ?40.2 billion in Q3-2016 as compared to the ?27.6 billion in Q3-2015. The gain due to to the increase in PS4 software sales as well as the absence in the current quarter of an 11.2 billion yen write-down of PS Vita and PS TV components recorded in the same quarter of the previous fiscal year. Partially offsetting the increase in operating income were the negative impact of the appreciation of the US dollar, reflecting the high ratio of US dollar-denominated costs, and the decrease in PS3 software sales.

     

    Imaging Products & Solutions (IP&S)

    IP&S segment reported a five per cent decline in sales to ?191.9 billion in the current quarter as compared to the ?201.9 billion in Q3-2015 due to decreases in unit sales of video cameras and digital cameras reflecting a contraction of the market, partially offset by an improvement in the product mix of digital cameras reflecting a shift to high value-added models.

     

    IP&S operating income increased 28.6 per cent to ?25.9 billion in Q3-2016 as compared to the ?20.1 billion in Q3-2015. During the current quarter there was a 1.9 billion yen positive impact from foreign exchange rate fluctuations says Sony.

     

    Home Entertainment & Sound (HE&S)

    Sony’s HE&S segment reported 4.3 per cent decline in revenue to ?402.2 billion in the current quarter as compared to the ?420.2 billion in Q3-2015 due to a decrease in unit sales of LCD televisions, and a decrease in home audio and video unit sales, reflecting a contraction of the market, as well as the impact of foreign exchange rates, partially offset by an improvement in the product mix of LCD televisions, reflecting a shift to high value-added model.

     

    HE&S operating income reported 19.8 per cent growth in operating income to ?31.2 billion in Q3-2016 as compared to the ?26 billion in Q3-2015 reductions and an improvement in product mix, partially offset by the negative impact of the appreciation of the US dollar, reflecting the high ratio of US dollar-denominated costs, as well as the impact of the above-mentioned decrease in sales.

     

    In Television, sales were flat YoY as ?288.5 billion. This was primarily due to a decrease in LCD television unit sales resulting from a strategic decision not to pursue scale in order to improve profitability and the impact of foreign exchange rates, substantially offset by the improvement in product mix reflecting a shift to high value-added models. Operating income increased ?6.6 billion yen YoY to ?15.9 billion. This increase was primarily due to cost reductions and the improvement in product mix, partially offset by the negative impact of the appreciation of the US dollar, reflecting the high ratio of US dollar-denominated costs, and the impact of the decrease in unit sales.

     

    Devices

    Devices Sales reduced 12.6 per cent YoY to ?249.9 billion in the current quarter from ?285.9 billion. This increase was primarily due to the impact of foreign exchange rates and an increase in demand for image sensors, partially offset by a decrease in battery business sales. Sales to external customers increased 17.3 per cent YoY.

     

    Operating income of the segment in Q3-2016 increased ?4.4 billion YoY to ?32.7 billion from ?28.3 billion in Q3-2015. This decrease was primarily due to a significant decrease in sales of image sensors, reflecting a decrease in demand for mobile products, and a significant decrease in battery business sales. This sales decrease was partially offset by an increase in sales of camera modules, which were lower than originally forecasted and the impact of foreign exchange rates. Sales to external customers decreased 7.5 per cent year-on-year.

     

    The segment reported an operating loss of ?11.7 billion in the current quarter as compared to an operating profit of ?53.8 billion in Q3-2015. This deterioration was primarily due to the deterioration in the operating results of the battery business, including the recording of a ?30.6 billion impairment charge related to long-lived assets, increases in depreciation and amortisation expenses as well as in research and development expenses for image sensors and camera modules, and the impact of the decrease in sales of image sensors.

     

    Pictures

    Sony’s Pictures segment reported 26.9 per cent growth in sales to ?262.1 billion in Q3-2016 as compared to the ?206.6 billion in Q3-2015. The increase in sales on a US dollar basis was primarily due to significantly higher sales for Motion Pictures, partially offset by the impact of foreign exchange rates. The increase in Motion Pictures sales was primarily driven by higher theatrical revenues, as the current quarter benefitted from the strong worldwide theatrical performances of Spectre and Hotel Transylvania 2, partially offset by lower home entertainment revenues, as the same quarter of the previous fiscal year benefitted from the home entertainment performances of 22 Jump Street and The Equalizer.

     

    Operating income in the current quarter more than tripled (3.27 time) at ?20.4 billion YoY from ?6.2 billion from ?1 billion in Q3-2014 due to the impact of the above-mentioned increase in sales, partially offset by higher theatrical marketing expenses. The increase in operating income also reflects lower overhead expenses as compared to the same quarter of the previous fiscal year, primarily due to a reduction in incentive compensation expense as well as insurance recoveries related to losses incurred from the cyberattack on SPE’s network and IT infrastructure in the fall of 2014.

     

    Music

    Music reported 8.2 per cent increase in sales to ?18.1 billion in Q3-2016 as compared to the ?167.5 billion in Q3-2015 due to the impact of the depreciation of the yen against the US dollar. Sony says that the increase in sales on a constant currency basis was due to higher Recorded Music sales, reflecting an increase in digital streaming revenue, and higher Visual Media and Platform sales, reflecting the strong performance of a game application for mobile devices. The current quarter includes record-breaking sales of Adele’s new album 25. Other best-selling titles included One Direction’s Made in the A.M., Elvis Presley’s If I Can Dream: Elvis Presley with the Royal Philharmonic Orchestra and Bruce Springsteen’s The Ties That Bind: The River Collection.

     

    Operating income increased ?1.5 billion year-on-year to ?27.4 billion ($228 million). This increase was primarily due to the above-mentioned increase in sales in Recorded Music and Visual Media and Platform.

     

    Operating income increased ?2.4 billion to ?14.6 billion. This increase was primarily due to an improvement in product mix, reflecting an increase in digital streaming revenues says Sony.

     

    Financial services

    Financial services increased 5.6 per cent YoY to ?322.0 billion primarily due to an increase in revenue at Sony Life. Revenue at Sony Life increased 5.7 per cent year-on-year to ?295.0 billion mainly due to an increase in insurance premium revenue reflecting a steady increase in policy amount in force.

     

    Operating income of ?52.2 billion was recorded, essentially flat YoY. At Sony Life, operating income of ?51.6 billion was recorded, essentially flat YoY, mainly due to the above-mentioned increase in insurance premium revenue, substantially offset by an increase in operating expenses.

     

    Other

    Sales decreased 17.7 per cent YoY in Q3-2016 to ?5196.8 billion.

    Operating income of ?515.7 billion was recorded in Q3-2016, compared to an operating loss of ?5112.6 billion in the same quarter of the previous fiscal year. This improvement was primarily due to a decrease in PC exit costs, including restructuring charges and after-sales service expenses, as well as the absence in the current quarter of sales company fixed costs charged to the PC business in the same quarter of the previous fiscal year, which were allocated based on the prior year results says Sony.

     

  • Adele impersonator clip smashes BBC YouTube record

    Adele impersonator clip smashes BBC YouTube record

    MUMBAI: Another day, yet another record broken for Adele… a sketch from BBC One’s Adele at the BBC special has been viewed more than 37 million times in just two weeks, making it the most-watched video ever on the BBC YouTube channel.

     

    The comedy sketch, ‘When Adele wasn’t Adele… but was Jenny!’ has broken the previous record of 36.9 million views. It became an instant global hit on the BBC YouTube channel after being featured in the programme, a one-off special broadcast on 20 November on BBC One. The television show has now been watched by 5.8 million people and an extended version featuring previously unseen footage will be shown on BBC One on 1 January.

     

    The five-and-a-half minute clip, which was released straight after the programme aired – features the singer going undercover, complete with prosthetic nose and chin and long gloves to cover her tattoos, to participate in a fake audition to find the best Adele impersonator. Telling the others taking part that her name is Jenny, she says she is a full-time nanny and part-time impersonator and quips it’s been ‘a bit slow recently’ due to ‘not much demand’. Due on last, the other singers comfort ‘Jenny’ backstage when she tells them she feels sick ahead of her performance – but when she breaks into her hit Make You Feel My Love, we see the heart-warming reactions of the impersonators as they realise one by one that ‘Jenny’ is actually the real Adele.

     

     

    One of the lookalikes who took part in the sketch, Talullah Windmill, says, “I am amazed the sketch has been so popular. Even though the day was one I’ll never forget, I never thought it would be watched by so many and be this well received. All the comments left are so lovely, it is truly overwhelming.”

     

    The previous Number 1 clip features Will Smith on The Graham Norton Show performing a song medley, including the theme to 90s sitcom Fresh Prince of Bel Air, with his son Jaden Smith, Alfonso Ribero, who played Carlton in the series, and DJ Jazzy Jeff. It has been on the BBC YouTube Channel for over two years and has now been knocked down to second place.

     

    BBC Music director Bob Shennan says, “I’m delighted to see such a phenomenal response to the show in the UK, and to see the magical sketch gain a huge global audience who are enjoying and sharing the BBC’s content.”

     

    Guy Freeman, executive producer of Adele at the BBC adds, “Adele was very keen to do the sketch and worked closely with my team to make this comedy-gold moment such a roaring success. She shows not only what a great sport she is, but also what a great comedy actor she is too.”

     

    Marking her return to the music scene with this world exclusive one hour special – her first television performance since she performed Skyfall at the Oscars in 2013 – this sketch featured alongside performances of her much-loved classics and new material from her recently released album, plus an interview with Graham Norton about her life and career.

  • James Bond car auctioned for $389,000

    James Bond car auctioned for $389,000

    MUMBAI: The 2008 Aston Martin car used by Daniel Craig in the Bond film Quantum of Solace has been sold in an auction of Bond movie memorabilia for 241,300 pounds (around $389,000), it is understood.
    The cost of the 2008 Aston Martin 6 litre V12 DBS 2 door coupe, which went to an anonymous buyer, was 1.5 times higher. The trading took place in the presence of 600 VIP guests. Many items of the auction were presented by the stars of the film.
    Actress Judi Dench, who plays M, presented one of the most piquant lots, a pair of blue trunks worn by Daniel Craig in Casino Royal. “All I can tell you, they are unwashed,” the actress said in a lighter vein.
    The trunks were sold for 44,500 pounds and will be given to a charity fund Women For Women.
    The second most expensive item in the auction was an Omega watch made of titanium and used by Craig in the soon to-be releaseed film Skyfall. The watch was expected to be sold for some 8,000 pounds but was sold for 157,300 pounds.
    Former Bond, Roger Moore presented a musical score of the soundtrack for the same film signed by the British singer Adele, performer of the title track. The lot was sold for 13,800 pounds.
    The total cost of the 1 pieces that were auctioned was 752,100 pounds. All proceeds will go to various charitable organisations.
    The auction was held to mark the 50th anniversary of the first James Bond movie.