Sony’s Film and TV Unit Sees Full Year 2023 Profit Slip to $808M

By Taaza Facts

Published on:

Sony Pictures Entertainment’s full-year 2023 operating income fell to $808 million from $894 million, with sales creeping up slightly to $10.315 million from $10.141 million.

SPE comprises motion pictures, television productions and media networks, and the full-year 2023 performance of those three segments were impacted by the dual Hollywood strikes.

In Sony’s fiscal fourth quarter, the motion picture division saw income of $208 million, down from the $281 million operating income in the third quarter. In the latest quarter, the film division released the Sydney Sweeney and Glen Powell rom-com Anyone But You that proved to be a big success at the box office and also on social media. However, the quarter also saw the release of the Sony/Marvel title Madame Web, that was panned by critics — the film boasts a dreary 11 percent Rotten Tomatoes critics score — and was another box office misfire for the studio’s attempts to expand its Spider-Man universe after the equally panned 2022 release Morbius.

With a production budget of just under $100 million, Madame Web had an underwhelming six-day opening of $25.8 million, and made a total of $100 million at the global box office.

More to come…

Taaza Facts

I am a multifaceted content creator with expertise in blogging, Finance, and Cryptocurrency reviews. My creative journey involves weaving captivating stories in blogs, designing aesthetically pleasing and functional websites, and dissecting the nuances of cinema. We are dedicated to sharing our passion and insights with a global audience.

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