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Tag: Sony Pictures

  • Sony to expand TV business in India; forex and mobile segment dull Q3-17 numbers

    Sony to expand TV business in India; forex and mobile segment dull Q3-17 numbers

    BENGALURU: Sony Corporation’s (Sony) CFO Kenichiro Yoshida said at the investors meet, “In order to expand our businesses outside the US, primarily in India, we are taking various measures to grow including M&A.”

    Sony plans to turnaround the Pictures (Film and Television business) Division that incurred a loss of ¥106.8 billion) for the quarter ended 31 December 2016 (Q3-17, current quarter). The loss was because by an impairment loss of goodwill to the extent of ¥112.1 billion (about $962 million at the applicable exchange rates at the time. For Q3-16, the division had reported an operating profit of ¥20.4 billion.

    Sony’s Pictures segment reported a 14.1 percent decline in sales and operating revenue from ¥225.2 billion from 262.1 billion due to lower sales of Motion Pictures offset by the higher sales of Television Production business.

    As a part of the turnaround, Sony says it will pursue new sales channels and movie merchandising opportunities. The impairment charge resulted from a downward revision in the future profitability projection for the Motion Pictures business within the Pictures segment.

    The downward revision of goodwill was primarily due to a lowering of previous expectations regarding the home entertainment business, mainly driven by an acceleration of market decline. Underlying profitability projections of film performance were also reduced, but the adverse impact of that reduction is expected to be largely mitigated by measures that have been identified to improve the profitability of the Motion Pictures business says the company.

    Overall, Sony reported a 7.1 percent year-on-year (y-o-y) decline in sales and operating revenue for Q3-17 at ¥2,397.5 billion as compared to ¥2,580.8 billion. The company says that the decline was primarily due to the impact of foreign exchange rates. On a constant currency basis, sales were flat y-o-y due to improved performance by its Games and Network Services (G & NS) division which was partly offset by the poor performance of its Mobile Communications segment.

    Net income attributable to Sony’s shareholders’ declined to less than a sixth (declined by 83.7 percent) in the current quarter to ¥19.6 billion from ¥120.1 in the corresponding year ago quarter. The decline was primarily attributable to the impairment loss incurred by its Pictures division.

    Sony’s Mobile Communication division reported a massive 35.3 percent y-o-y decline in operating and sales revenue in Q3-17 to ¥248.6 billion from ¥384.5 billion. Operating income declined 12.1 percent y-o-y in the current quarter to ¥21.2 billion from ¥24.1 billion.

    The G & NS division reported a 5.2 percent (15 percent on a constant currency basis) y-o-y increase in Q3-17 in sales and operating revenue to ¥617.7 billion from 587.1 billion. Higher sales of PlayStation4 software and PlayStation VR which was launched in October 2016 contributed to the growth. The G & NS division reported 24.5 percent increase in operating income in the current quarter to ¥50 billion from ¥40.2 billion.

    Sony’s Imaging Products and Solutions (IP & S) division reported a 9.6 percent y-o-y decline in sales and operating revenue in Q3-17 revenue to ¥167.1 billion from ¥184.8 billion. Operating income of the segment declined 7.5 percent y-o-y in the current quarter to ¥22.1 billon from ¥22.8 billion. The company attributes the declines to forex fluctuations and a change in its product mix for the division.

    Home Entertainment and Sound (HE & S) division reported a 12.1 percent y-o-y decline in Q3-17 to ¥353.3 billion from ¥402 billion in sales and operating revenue. The company attributes the declines to forex fluctuations and a decline in home audio and video unit sales due to a contraction of the market.

    Operating income of the HE & S division declined 16.7 percent y-o-y in Q3-17 to ¥25.9 billion from ¥31.2 billion.

    Sony’s Semiconductors division reported a 16.9 percent y-o-y increase in sales and operating revenues in Q3-17 to ¥233.9 billion from ¥200 billion. The division’s operating income increased 27.6 percent y-o-y in the current quarter to ¥27.2 billion from ¥21.3 billion.

    Components division reported 10.3 percent y-o-y decline in Q3-17 in sales and operating revenue at ¥51.4 billion from ¥57.3 billion. Operating loss of the segment in the current quarter reduced to ¥3.7 billion from ¥32.7 billion.

    Sony’s Music division reported a 1.8 percent decline in sales and operating revenue in the current quarter to ¥178.5 billion from ¥181.8 billion. The decline was due to the appreciation of the yen against the US dollar and lower Recorded Music sales. Operating income of the segment increased 2.4 percent to ¥28 billion from ¥27.3 billion.

    Sony’s Financial Services division reported 0.9 percent y-o-y decline in revenue in Q3-17 to ¥319.1 billon from ¥322 billion. Operating income of the division declined 44.5 percent y-o-y in the current quarter to ¥29 billion from ¥52.2 billion.

  • Sony to expand TV business in India; forex and mobile segment dull Q3-17 numbers

    Sony to expand TV business in India; forex and mobile segment dull Q3-17 numbers

    BENGALURU: Sony Corporation’s (Sony) CFO Kenichiro Yoshida said at the investors meet, “In order to expand our businesses outside the US, primarily in India, we are taking various measures to grow including M&A.”

    Sony plans to turnaround the Pictures (Film and Television business) Division that incurred a loss of ¥106.8 billion) for the quarter ended 31 December 2016 (Q3-17, current quarter). The loss was because by an impairment loss of goodwill to the extent of ¥112.1 billion (about $962 million at the applicable exchange rates at the time. For Q3-16, the division had reported an operating profit of ¥20.4 billion.

    Sony’s Pictures segment reported a 14.1 percent decline in sales and operating revenue from ¥225.2 billion from 262.1 billion due to lower sales of Motion Pictures offset by the higher sales of Television Production business.

    As a part of the turnaround, Sony says it will pursue new sales channels and movie merchandising opportunities. The impairment charge resulted from a downward revision in the future profitability projection for the Motion Pictures business within the Pictures segment.

    The downward revision of goodwill was primarily due to a lowering of previous expectations regarding the home entertainment business, mainly driven by an acceleration of market decline. Underlying profitability projections of film performance were also reduced, but the adverse impact of that reduction is expected to be largely mitigated by measures that have been identified to improve the profitability of the Motion Pictures business says the company.

    Overall, Sony reported a 7.1 percent year-on-year (y-o-y) decline in sales and operating revenue for Q3-17 at ¥2,397.5 billion as compared to ¥2,580.8 billion. The company says that the decline was primarily due to the impact of foreign exchange rates. On a constant currency basis, sales were flat y-o-y due to improved performance by its Games and Network Services (G & NS) division which was partly offset by the poor performance of its Mobile Communications segment.

    Net income attributable to Sony’s shareholders’ declined to less than a sixth (declined by 83.7 percent) in the current quarter to ¥19.6 billion from ¥120.1 in the corresponding year ago quarter. The decline was primarily attributable to the impairment loss incurred by its Pictures division.

    Sony’s Mobile Communication division reported a massive 35.3 percent y-o-y decline in operating and sales revenue in Q3-17 to ¥248.6 billion from ¥384.5 billion. Operating income declined 12.1 percent y-o-y in the current quarter to ¥21.2 billion from ¥24.1 billion.

    The G & NS division reported a 5.2 percent (15 percent on a constant currency basis) y-o-y increase in Q3-17 in sales and operating revenue to ¥617.7 billion from 587.1 billion. Higher sales of PlayStation4 software and PlayStation VR which was launched in October 2016 contributed to the growth. The G & NS division reported 24.5 percent increase in operating income in the current quarter to ¥50 billion from ¥40.2 billion.

    Sony’s Imaging Products and Solutions (IP & S) division reported a 9.6 percent y-o-y decline in sales and operating revenue in Q3-17 revenue to ¥167.1 billion from ¥184.8 billion. Operating income of the segment declined 7.5 percent y-o-y in the current quarter to ¥22.1 billon from ¥22.8 billion. The company attributes the declines to forex fluctuations and a change in its product mix for the division.

    Home Entertainment and Sound (HE & S) division reported a 12.1 percent y-o-y decline in Q3-17 to ¥353.3 billion from ¥402 billion in sales and operating revenue. The company attributes the declines to forex fluctuations and a decline in home audio and video unit sales due to a contraction of the market.

    Operating income of the HE & S division declined 16.7 percent y-o-y in Q3-17 to ¥25.9 billion from ¥31.2 billion.

    Sony’s Semiconductors division reported a 16.9 percent y-o-y increase in sales and operating revenues in Q3-17 to ¥233.9 billion from ¥200 billion. The division’s operating income increased 27.6 percent y-o-y in the current quarter to ¥27.2 billion from ¥21.3 billion.

    Components division reported 10.3 percent y-o-y decline in Q3-17 in sales and operating revenue at ¥51.4 billion from ¥57.3 billion. Operating loss of the segment in the current quarter reduced to ¥3.7 billion from ¥32.7 billion.

    Sony’s Music division reported a 1.8 percent decline in sales and operating revenue in the current quarter to ¥178.5 billion from ¥181.8 billion. The decline was due to the appreciation of the yen against the US dollar and lower Recorded Music sales. Operating income of the segment increased 2.4 percent to ¥28 billion from ¥27.3 billion.

    Sony’s Financial Services division reported 0.9 percent y-o-y decline in revenue in Q3-17 to ¥319.1 billon from ¥322 billion. Operating income of the division declined 44.5 percent y-o-y in the current quarter to ¥29 billion from ¥52.2 billion.

  • Sony Pictures promotes Resident Evil final with VR experience

    Sony Pictures promotes Resident Evil final with VR experience

    MUMBAI: Sony Pictures Entertainment recently set up a Virtual Reality (VR) immersive gaming experience ahead of the 3 February release of “Resident Evil: The Final Chapter”. Japanese engineers were flown to establish it in Mumbai.

    The gaming experience is supported by haptic techonology — giving a tangible and realistic feel to virtual objects. The technology and will enable experiencing of the character Alice’s biggest fight against the un-dead as she approaches to save the humanity from complete oblivion.

    Flagged off in Japan for a global tour, the immersive gaming experience is a result of cooperation between the video production company Sony PCL, Sony Pictures Entertainment (SPE) and the parent company Sony Corp.

    public://Milla-Jovovich-in-Resident-Evil-The-Final-Chapter.jpg

    Termed as ‘The Road to Raccoon City’, the new experience will feature content from the movie, complete with voiceover from Alice, the character that has been essayed by actress Milla Jovovich. It features the aforementioned technology to simulate a zombie attack, as users wear VR glasses and a vest that provides vibration and audio feedback while they shoot at zombies projected on-screen with a gun.

    Sony Pictures Entertainment (SPE) India managing director Vivek Krishnani has had a first-hand experience with the game. He exclaimed that since it was the last installment of the ‘Resident Evil’ series and culmination of Alice’s incredible journey, they wanted to make it extraordinary for fans of the game and the franchise.

    In 2016, VR headsets had just started to come into the market thanks to the likes of the Samsung Gear VR. While it was lower-cost solution, it was limited regarding the experience they could provide. In 2017 all of this will change, however. These early devices were the tip of the iceberg, a means of testing people’s interest in the idea of VR as a concept.

    Also Read :

    ’17 to be year of survival for VR market

    How VOKE is helping Hotstar to bring 3D VR to Kabaddi

  • Sony Pictures promotes Resident Evil final with VR experience

    Sony Pictures promotes Resident Evil final with VR experience

    MUMBAI: Sony Pictures Entertainment recently set up a Virtual Reality (VR) immersive gaming experience ahead of the 3 February release of “Resident Evil: The Final Chapter”. Japanese engineers were flown to establish it in Mumbai.

    The gaming experience is supported by haptic techonology — giving a tangible and realistic feel to virtual objects. The technology and will enable experiencing of the character Alice’s biggest fight against the un-dead as she approaches to save the humanity from complete oblivion.

    Flagged off in Japan for a global tour, the immersive gaming experience is a result of cooperation between the video production company Sony PCL, Sony Pictures Entertainment (SPE) and the parent company Sony Corp.

    public://Milla-Jovovich-in-Resident-Evil-The-Final-Chapter.jpg

    Termed as ‘The Road to Raccoon City’, the new experience will feature content from the movie, complete with voiceover from Alice, the character that has been essayed by actress Milla Jovovich. It features the aforementioned technology to simulate a zombie attack, as users wear VR glasses and a vest that provides vibration and audio feedback while they shoot at zombies projected on-screen with a gun.

    Sony Pictures Entertainment (SPE) India managing director Vivek Krishnani has had a first-hand experience with the game. He exclaimed that since it was the last installment of the ‘Resident Evil’ series and culmination of Alice’s incredible journey, they wanted to make it extraordinary for fans of the game and the franchise.

    In 2016, VR headsets had just started to come into the market thanks to the likes of the Samsung Gear VR. While it was lower-cost solution, it was limited regarding the experience they could provide. In 2017 all of this will change, however. These early devices were the tip of the iceberg, a means of testing people’s interest in the idea of VR as a concept.

    Also Read :

    ’17 to be year of survival for VR market

    How VOKE is helping Hotstar to bring 3D VR to Kabaddi

  • Sony Pictures-Ten Sports deal cleared by CCI

    Sony Pictures-Ten Sports deal cleared by CCI

    MUMBAI: The Competition Commission of India (CCI) yesterday tweeted its approval to the proposed acquisition of the sports broadcasting business of Ten Sports by Sony Pictures Networks India. Acquisitions beyond a threshold need approval from CCI, which keeps a check on business practices across sectors.

    In August-end 2016, ZEEL had informed the BSE about the approval by its board of directors for the proposed sale and transfer of Zee’s sports broadcasting business to Sony Pictures Networks in an all-cash deal worth US$385 million. SPNI CEO NP Singh had then said that the acquisition of Ten Sports Network would strengthen SPN’s offering for viewers of cricket, football and fight sports, complementing their existing portfolio of international and domestic sporting properties.

    Ten Sports network is currently held by two subsidiaries of Zee Entertainment Enterprises Ltd (ZEEL)—Taj Television Ltd, Mauritius, and Taj Television (India) Pvt. Ltd. Sony Pictures Networks India is a subsidiary of Sony Corporation, which owns and operates the Sony Entertainment network of channels.

    Ten Sports channels being acquired are — Ten  Cricket, Ten Sports, Ten 1, Ten 1 HD, Ten 2, Ten 3, Ten Golf HD which operate in many countries including the Indian sub-continent, Hong Kong, Maldives, Singapore, the Middle East and the Caribbeans.

    Also Read:

    Sony Networks looking to change face of Indian football in ’17

    Sony to add 10 channels in 2017

    Sony Pictures to acquire Ten Sports from Zee

  • Sony Pictures-Ten Sports deal cleared by CCI

    Sony Pictures-Ten Sports deal cleared by CCI

    MUMBAI: The Competition Commission of India (CCI) yesterday tweeted its approval to the proposed acquisition of the sports broadcasting business of Ten Sports by Sony Pictures Networks India. Acquisitions beyond a threshold need approval from CCI, which keeps a check on business practices across sectors.

    In August-end 2016, ZEEL had informed the BSE about the approval by its board of directors for the proposed sale and transfer of Zee’s sports broadcasting business to Sony Pictures Networks in an all-cash deal worth US$385 million. SPNI CEO NP Singh had then said that the acquisition of Ten Sports Network would strengthen SPN’s offering for viewers of cricket, football and fight sports, complementing their existing portfolio of international and domestic sporting properties.

    Ten Sports network is currently held by two subsidiaries of Zee Entertainment Enterprises Ltd (ZEEL)—Taj Television Ltd, Mauritius, and Taj Television (India) Pvt. Ltd. Sony Pictures Networks India is a subsidiary of Sony Corporation, which owns and operates the Sony Entertainment network of channels.

    Ten Sports channels being acquired are — Ten  Cricket, Ten Sports, Ten 1, Ten 1 HD, Ten 2, Ten 3, Ten Golf HD which operate in many countries including the Indian sub-continent, Hong Kong, Maldives, Singapore, the Middle East and the Caribbeans.

    Also Read:

    Sony Networks looking to change face of Indian football in ’17

    Sony to add 10 channels in 2017

    Sony Pictures to acquire Ten Sports from Zee

  • HOOQ raises US$ 25 million from Sony Pictures, others; open to outside investors

    HOOQ raises US$ 25 million from Sony Pictures, others; open to outside investors

    MUMBAI: Southeast Asian streaming platform HOOQ, a Netflix challenger, has raised US$25 million (Rs 1.7 billion) in capital from existing investors — Sony Pictures, Singtel and Warner Brothers, it was announced through a stock exchange filing from Singtel.

    HOOQ went live in Indonesia, Philippines, India and Thailand in 2015. Recently launching in India, Amazon Prime Video is now an international challenger.

    HOOQ CEO Peter Bithos said that the company was preparing to welcome outside investors.

    The filing stated that Singtel had invested an additional US$ 15.5 million with the other investors contributing the remainder. It was also disclosed that HOOQ had earlier raised US$ 70 million, taking the total recent investment to US$ 95 million.

    HOOQ was founded two years ago by the trio with Singtel having a majority holding. Following the deal, the companies retained the same shareholding with Singtel owning 65 per cent; Warner and Sony each taking 17.5 per cent.

  • HOOQ raises US$ 25 million from Sony Pictures, others; open to outside investors

    HOOQ raises US$ 25 million from Sony Pictures, others; open to outside investors

    MUMBAI: Southeast Asian streaming platform HOOQ, a Netflix challenger, has raised US$25 million (Rs 1.7 billion) in capital from existing investors — Sony Pictures, Singtel and Warner Brothers, it was announced through a stock exchange filing from Singtel.

    HOOQ went live in Indonesia, Philippines, India and Thailand in 2015. Recently launching in India, Amazon Prime Video is now an international challenger.

    HOOQ CEO Peter Bithos said that the company was preparing to welcome outside investors.

    The filing stated that Singtel had invested an additional US$ 15.5 million with the other investors contributing the remainder. It was also disclosed that HOOQ had earlier raised US$ 70 million, taking the total recent investment to US$ 95 million.

    HOOQ was founded two years ago by the trio with Singtel having a majority holding. Following the deal, the companies retained the same shareholding with Singtel owning 65 per cent; Warner and Sony each taking 17.5 per cent.

  • Sony Pictures Entertainment, SonyLiv & One Digital join hands for ‘Passengers’

    Sony Pictures Entertainment, SonyLiv & One Digital join hands for ‘Passengers’

    MUMBAI: Sony Pictures Entertainment India (SPE) and SonyLiv have teamed up with One Digital Entertainment for SPE’s next release, Passengers.The action thriller starring Hollywood’s Chris Pratt and Jennifer Lawrence is being released in India on 6 January 2017 in 3D in English, Hindi, Tamil and Telugu.

    “We are absolutely thrilled at having the opportunity to produce a song featuring Raftaar, who is an instant hit and very popular amongst millennials. The song is highly inspired by our sister concern, Sony Pictures Entertainment’sPassengers. Apart from Raftaar, Jubin Nautiyal and Shirley Setia have also lent their voice in this track.

    Sony Pictures Networks EVP and SonyLiv head for digital business Uday Sodhi said: “We Liv to Entertain. We are very confident that our audience will enjoy this latest addition and look forward to produce more such songs in the near future.”

    Raftaar, whose digital portfolio is handled by One Digital Entertainment, has created a special rap for Passenger’s promotions in India.http://www.sonyliv.com/dplnk?schema=sony://asset/5262307239001

    Titled Aadat, the song captures the romance element of the film between the two strangers (Pratt and Lawrence) who discover love as they battle imminent death to save the lives of 5000 sleeping passengers on a sinking space ship. Aadat will be played in theatres across India before the English and Hindi versions of the film.

    “Being associated with a studio as big as Sony Pictures Entertainment is not only exciting but also a great pleasure. The concept of promoting a Hollywood film in this manner is very innovative and executing this was equally great. We are confident that Raftaar’s connect with the youth will grab the attention of not only the music and movie fanatics but also reach a wider audience base,” added One Digital Entertainment COO and co-founder Gurpreet Singh Bhasin.

    Sung by Jubin Nautiyal and Shirley Setia along with Raftaar, It has been written by Sukumar Dutta and penned by Amit Kumaran.SPE MD Vivek Krishnani said, “Passengers brings Hollywood’s two top stars together for the first time. Both are youth icons and it was therefore natural for us to look at ways to engage with the youth. With Raftaar being a popular name amongst the millennials, we were confident that partnering with him would be an interesting opportunity for us to create exciting content that finds resonance with the masses in India. With the support of SonyLiv’s team and their effort along with One Digital Entertainment we are excited to share Aadat with the audiences”

  • Sony Pictures Entertainment, SonyLiv & One Digital join hands for ‘Passengers’

    Sony Pictures Entertainment, SonyLiv & One Digital join hands for ‘Passengers’

    MUMBAI: Sony Pictures Entertainment India (SPE) and SonyLiv have teamed up with One Digital Entertainment for SPE’s next release, Passengers.The action thriller starring Hollywood’s Chris Pratt and Jennifer Lawrence is being released in India on 6 January 2017 in 3D in English, Hindi, Tamil and Telugu.

    “We are absolutely thrilled at having the opportunity to produce a song featuring Raftaar, who is an instant hit and very popular amongst millennials. The song is highly inspired by our sister concern, Sony Pictures Entertainment’sPassengers. Apart from Raftaar, Jubin Nautiyal and Shirley Setia have also lent their voice in this track.

    Sony Pictures Networks EVP and SonyLiv head for digital business Uday Sodhi said: “We Liv to Entertain. We are very confident that our audience will enjoy this latest addition and look forward to produce more such songs in the near future.”

    Raftaar, whose digital portfolio is handled by One Digital Entertainment, has created a special rap for Passenger’s promotions in India.http://www.sonyliv.com/dplnk?schema=sony://asset/5262307239001

    Titled Aadat, the song captures the romance element of the film between the two strangers (Pratt and Lawrence) who discover love as they battle imminent death to save the lives of 5000 sleeping passengers on a sinking space ship. Aadat will be played in theatres across India before the English and Hindi versions of the film.

    “Being associated with a studio as big as Sony Pictures Entertainment is not only exciting but also a great pleasure. The concept of promoting a Hollywood film in this manner is very innovative and executing this was equally great. We are confident that Raftaar’s connect with the youth will grab the attention of not only the music and movie fanatics but also reach a wider audience base,” added One Digital Entertainment COO and co-founder Gurpreet Singh Bhasin.

    Sung by Jubin Nautiyal and Shirley Setia along with Raftaar, It has been written by Sukumar Dutta and penned by Amit Kumaran.SPE MD Vivek Krishnani said, “Passengers brings Hollywood’s two top stars together for the first time. Both are youth icons and it was therefore natural for us to look at ways to engage with the youth. With Raftaar being a popular name amongst the millennials, we were confident that partnering with him would be an interesting opportunity for us to create exciting content that finds resonance with the masses in India. With the support of SonyLiv’s team and their effort along with One Digital Entertainment we are excited to share Aadat with the audiences”