The smash success of 'Spiderman: No Way Home' and 'Venom: Let There Be Carnage' gave the studio's theatrical earnings a big boost in the quarter.
to Netflix, a deal reportedly worth north of $500 million. An uptick in sales at Sony Pictures’ media networks division also resulted from the company’s acquisition of anime streamer Crunchyroll last year.
Sony’s games and network services division saw profit climb 12 percent year-on-year to $810 million , up from $704 million . Music sector profits slipped 4 percent from $515 million to $480 million in the latest quarter, although the latest Adele album,At the group level, Sony Corp’s net profits climbed 20 percent in the fiscal third quarter, reaching $4 billion . Sales climbed to 26.4 billion , up 13 percent compared to the equivalent period in 2020.
Sony Group also revised its full-year operating forecast on Wednesday, saying that it expects a rise of 26 percent to $10.5 billion . Previously the company had forecast a 9 percent, or 1 trillion yen, increase in operating profit. Sony also said it is expecting strong full-year results from the pictures division, increasing its forecast by 97 percent to $1.7 billion.
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