Sony Pictures Entertainment Saw Profit Surge Last Quarter On Lower Costs

Sony Pictures Entertainment saw profit jump 70% in the March quarter to $354 million on lower theatrical marketing costs. Revenue for the three months, Sony’s fiscal fourth quarter, was essentially flat at $2.7 billion.

Paddington in Peru was a hit in Q1, a notably quiet one for Hollywood. Other releases included One Of Them Days, Walter Salles’ much decorated I’m Still Here and Becoming Led Zeppelin from Sony Pictures Classics and Heart Eyes from Screen Gems. The year earlier quarter featured The Book Of Clarence, Madame Web and Ghostbusters: Frozen Empire in late March, which was an expensive movie to market.

Coming soon: Karate Kid: Legends, which opened in Latin America (no. 1 spot in Mexico) this past weekend and hits Stateside on May 30; Danny Boyle horror 28 Years Later directed by Alex Garland opening June 30; and I Know What You Did Last Summer reboot in July. All went over well at CinemaCon last month along with previews of an Anaconda remake with Paul Rudd and Jack Black out in December; the upcoming Spider-Man: Beyond the Spider-Verse, which just received a release date (June 2027); as well as the Darren Aronofsky-helmed Caught Stealing starring Austin Butler.

SPE includes motion pictures, television productions and media networks globally. Giant Sony is also parent to Sony Music, Games and electronics, Imaging & Sensing Solutions and Financial Services, which the company plans to spin off in the fall.

Sony saw total profit of $1.3 billion (197.7 trillion yen) profit, up 5% from the year earlier, on sales of $17.7 billion, down 24%.

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