Sony Picures Lost $ 86 Million
Sony Pictures was the only division of parent company Sony that was unprofitable in the first quarter of 2017. As reported by The Wrap, this is evidenced by previously released quarterly report data. Despite revenue growth compared to the same period in 2016, Sony Pictures lost about 9.5 billion yen (about 86 million dollars at the current course). It is noteworthy that the studio achieved such a pessimistic result even taking into account the release of obvious hits, such as the movie "Spider-Man: Homecoming", "Baby on a Drive" and others. Sony Pictures ranked fifth in terms of market share in North America by mid-summer 2017. Recall that in mid-July 2017 it became known that Sony Pictures has lost a key financial partner. The investment company LStar Capital refused further cooperation, which intended to invest about $ 200 million in the studio's promising movie projects. The agreement was supposed to be valid until 2019, but a series of major failures forced investors to reconsider their strategy. Sony Pictures expects to find new partners in the foreseeable future. The Topic of Article: Sony Picures Lost $ 86 Million. |
