Spidey was Sony’s financial superhero in 2021: The final three months of 2021 brought Sony’s pictures division net profits of $1.3 billion for the last three months of 2021 due to theatrical releasing, including the blockbuster movie “Spider Man: No Way Home.”
This figure surpasses the $1.31 Billion profit for the same quarter 2020.
Sony executives also gave credit to the licensing of U.S. television series in a presentation of financial results on Tuesday night Pacific Time and Wednesday in Tokyo. “Seinfeld” for the success of the division, which includes Sony’s film studios, television and TV network operations. Other contributions to the division’s strong quarter also included the success of “Venom:Let There Be Carnage”Crunchyroll acquisition results in increased sales for media networks.
Parent company, Sony Group’s net profits grew by 20% to $4.15 billion. According to the company, sales rose by 13% and reached $27.2 billion.
Hiroki Totoki, executive vice president and chief financial officers, provided financial information for the three months ended Dec. 31, 2021. Senior vice president, senior manager responsible for accounting Hirotoshi Korenagaand was also in charge.
The quarter saw a significant increase in year-over-year profitability for the games and network services division to $837 million. The music sector’s net profits decreased in the most recent quarter. The net contribution from electronics was $720 million.
At the session, the executives touted Sony’s high-profile acquisition of ‘Halo’ game developer Bungie for $3.6 billion. Said Matsukoa, “Bungie has capitalized on (its) opportunity from an early stage by incorporating live game services into its premier franchise destiny and it has accumulated a wealth of experience and superb technology in the space.”
She also said that Sony plans to utilize Bungie’s strengths in developing new IP at Playstation studios “as we expand into the iPad gaming services area.”She also stated that Sony, in collaboration with Bungie will launch more than 10 games by March 31, 2026.
