Sony Pictures Home Entertainment reported a 25% decrease in second-quarter revenue, with sales of packaged media and digital content down by 22% for the fiscal year. Theatrical revenue plummeted by 52%, while streaming revenue dropped by 18% compared to the previous year.
Sony Pictures Home Entertainment announced a second-quarter revenue of $126 million, marking a decrease of over 25% from the previous year’s $169 million. Sales of packaged media and digital content for the first six months of the fiscal year also saw a decline of 22%, totaling $232 million compared to $295 million last year.
Top-selling movies in the quarter included ’28 Years Later’ and ‘Karate Kids: Legends’. Theatrical revenue took a significant hit, dropping by 52% to $114 million from $237 million in the previous year. Notable top-grossing movies in the quarter were ‘I Know What You Did Last Summer’ reboot ($42 million globally), ‘Caught Stealing’ ($32 million), ‘Demon Slayer: Kimetsu no Yaiba Infinity Castle’ ($312 million), and ‘A Big Bold Beautiful Journey’ ($15 million).
Total motion pictures revenue, which includes prior quarter releases like Sony Pictures Animation’s ‘KPop Demon Hunters’ for Netflix, increased by almost 5% to $1.82 billion from $1.73 billion last year. However, streaming revenue, which covers licensed movies and TV shows, decreased by approximately 18% to $237 million from $290 million last year.
Sony Pictures Television revenue also saw a decline of more than 11%, dropping to $138 million from $175 million. Notable streaming titles included ‘Days of Our Lives’ (Peacock), ‘Gen V’ (Prime Video), ‘My Life with the Walter Boys’ (Netflix), ‘Platonic’ (Apple TV), ‘Sausage Party: Foodtopia’ (Prime Video), and ‘Twisted Metal’ (Peacock).
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