Michael Lynton has re-upped in his dual role as chief executive of Sony Entertainment and chairman and chief executive of Sony Pictures Entertainment, the company said Tuesday.
Kazuo Hirai, president and chief executive of Sony Corporation made the announcement.
Under Lynton and co-chair Amy Pascal, Sony Pictures enjoyed its best performance ever at the worldwide box office in 2012, and ranked No. 1 in North American theatrical market share. The blockbuster James Bond movie "Skyfall" led the way, along with "Amazing Spider-Man," "Men in Black 3" and "Hotel Transylvania."
Last year, Lynton was named chief executive of Sony Entertainment and given oversight of the company's global businesses. Those include Sony Music Entertainment, Sony/ATV Music Publishing and Sony Pictures.
Artists like One Direction, Adele, Alicia Keys and Pink have driven increases in digital revenue over the past year at Sony Music, led by chief executive Doug Morris. Also last year, under the leadership of chairman and chief executive Martin Bandier, Sony/ATV took over the administration of EMI Publishing, making it the world’s foremost music publishing business.
“Michael’s steady leadership and strong vision for the digital future will help keep Sony’s entertainment businesses stable and reliable contributors to Sony’s growth,” said Hirai. “I look forward to working closely with Michael in ensuring that music and pictures remain integral parts of our global strategy. We’re thrilled he will continue at the helm for years to come.”
During Lynton’s tenure, Sony Pictures has rapidly expanded its global presence and digital footprint. Worldwide box office revenue for Sony Pictures’ films surpassed the $4 billion mark in 2012 for the first time. Sony Pictures Television now has 18 production companies in 15 countries around the world and boasts international TV networks with 124 channel feeds in 159 countries reaching over 800 million homes worldwide.
In addition, the studio has become a leader in digital entertainment pioneering business models like the ad-supported Crackle digital video network, early Electronic Sell-Through (EST) and cloud-based content ownership through UltraViolet.
“I am grateful to work with some of the finest minds in the entertainment business," Lynton said in a statement, "starting with my partner at Sony Pictures, Amy Pascal, as well as Doug Morris at Sony Music and Marty Bandier at Sony/ATV. They are the best in their fields, and together we will strive to bring the very best films, music and television shows to our growing, global audiences.