- Sony’s theatrical revenue rose by more than 1,100% year-over-year to $1.28 billion thanks to “Spider-Man: Brand New Day” with an assist from “Resident Evil”
- The $2.5 billion Marvel Studios box office hit offset a 45% year-over-year decrease in TV revenue to $483 million
- Overall net income rose 44% to $2.8 billion off $21.5 billion in revenue
The good times keep rolling for quarterly earnings in Hollywood as Sony reported a 44% increase in overall net income thanks in large part to the historic $2.52 billion box office run of Sony Pictures/Marvel Studios’ “Spider-Man: Brand New Day.”
For the overall company, Sony reported revenue of 3.429 trillion yen ($21.5 billion), up 10% from the previous year quarter, and net income of 450 billion yen ($2.8 billion), up 44%.
And within Sony Pictures Entertainment, revenue increased 37% year-over-year to $3.23 billion with a net income of $488 million, which is a whopping 527% increase over the prior year quarter.
The theatrical division recorded revenue of $1.28 billion, more than 1,100% increase year-over-year fueled by “Spider-Man” with an assist from the September release of “Resident Evil,” which has grossed $400 million worldwide. That offset a 45% decrease in television revenue to $483 million.
“Spider-Man: Brand New Day” now stands as Sony Pictures’ highest grossing film ever and the third highest of all-time before inflation adjustment behind only “Avengers: Endgame” and “Avatar.” In an interview with TheWrap after the film’s record-setting $360 million domestic opening weekend, Rothman commended the film’s lead trio of Tom Holland, Zendaya and Jacob Batalon for their work.
“It took me a while to realize it, but this is a movie about friendship. About human connection and the power of it. That’s what makes it so relatable,” Rothman said. “It makes us who we are, and Tom, Zendaya and Jacob have that connection, and we relied on that to sell it, and here we are. I give Tom so much credit for embodying this character. He was deeply involved in the writing of the script for this film and he has said in interviews and to us, that every ‘Spider-Man’ film is really about Peter Parker. He’s always understood that.”