Sony Film Unit Profit Plummets 34 Percent With Weak ‘The Walk,’ ‘Brothers Grimsby’
Full-year operating income appears rough when compared to 2014’s home releases, like “Amazing Spider-Man 2” and “22 Jump Street”
Tony Maglio | April 28, 2016 @ 3:31 AM
Last Updated: April 28, 2016 @ 4:48 AM
Sony’s film unit’s full-year 2015 profit dropped 34 percent, partially due to lackluster box office performances by “The Walk” and “The Brothers Grimsby.” It sure didn’t help that the year’s home releases were compared to 2014’s strong “Amazing Spider-Man 2” and “22 Jump Street” offerings.
Overall at the parent company, sales decreased 1.3 percent for the entire 12-month measured period. The Mobile Communications segment — down 20 percent — was most to blame there. It could have been worse, but strong PlayStation 4 game sales helped offset some of the declines.
The good news is that operating income at the Japanese company increased about $2.6 million, despite disappointing results in the movie and TV unit. Plus, the electronics and entertainment corporation returned to an overall profit this year, and investors shouldn’t care (too much) about how or where the income outweighed the costs.
The motion pictures unit saw 6.8 percent sales growth, as the small-screen covered the big-screen a bit. “Breaking Bad,” “Better Call Saul” and “The Blacklist” on SVOD brought in a few bucks — but obviously not enough to save the bottom line. Back at the box office, “Spectre” and “Hotel Transylvania 2” did well, but not well enough to overcome the slate’s many weak links.
Sony’s Music wing sung a better tune, as Adele’s “25,” One Direction’s “Made in the A.M.” and David Bowie‘s “Blackstar” paved the way for a more successful year than the previous one. Sales rose 10.4 percent and operating income jumped 44.1 percent for the full year.
SNE shares, which closed yesterday down 16 cents apiece, have been fairly level in after-hours trading. The U.S. stock markets open this morning at 9:30 a.m. ET.
The Sony Hack's Key Players: Where Are They Now? (Photos)
Amy Pascal Sony's co-chairman stepped down in February 2015 and started her own production company, Pascal Pictures, with a four-year contract for funding and distribution through Sony Pictures Entertainment (SPE). She is producing the all-female "Ghostbusters" film and the "Spider-Man" reboot.
Michael Lynton Lynton remained as chairman and CEO of Sony Pictures Entertainment until announcing his resignation in January 2017. He installed TriStar Productions chief Tom Rothman as head of Sony's motion picture group.
Tom Rothman Rothman is now the Chairman of Sony Pictures Entertainment’s Motion Picture Group, replacing Pascal after she stepped down from her post in February 2015.
Steve Mosko Mosko served as the Head of Television Division of Sony Pictures Entertainment from 2001 until October 2015, when he was made Chairman of Sony Pictures Television -- until he announced he was stepping down in June 2016.
Scott Rudin In a hacked email, the producer said Angelina Jolie "was seriously out of her mind" in jostling over David Fincher's next project (either "Steve Jobs" or her planned "Cleopatra"). "I’m not destroying my career over a minimally talented spoiled brat,” he added. Rudin went on to produce "Steve Jobs" -- with director Danny Boyle, not Fincher -- and the underperforming 2016 comedy "Zoolander 2."
Clint Culpepper Screen Gems' president called Kevin Hart a “whore” in an email to a colleague after the actor sought an increase in salary for his personal promotions.
Hart responded, “I worked very hard to get where I am today. I look at myself as a brand and because of that I will never allow myself to be taken advantage of.” Culpepper is still president of the production company.
Angelina Jolie Producer Scott Rudin had harsh words for Jolie regarding her plans to develop a new version of "Cleopatra." The project never came together, but Jolie will soon release "By the Sea," a drama she wrote, directed and stars in with husband Brad Pitt.
Leonardo DiCaprio In an email, Sony's then-co-chairman Amy Pascal called DiCaprio "despicable" when he backed out of "Steve Jobs." The actor stars in the upcoming drama "The Revenant."
Seth Rogen and James Franco The hack revealed that Rogen made $8.4 million for co-directing and acting in "The Interview," while co-star Franco received $6.5 million. The film's overall budget was $44 million and included $241 for a “table of weed, coke, pills and panties," as well as $74,000 for two tigers, their handlers, and special “tiger accommodations.”
Rogen recently starred in "Steve Jobs" and has six more projects lined up, including "Neighbors 2." Franco also has multiple projects in the queue, including directing "The Long Home."
Kevin Hart Screen Gems President Clint Culpepper called Kevin Hart a “whore” in an email to a colleague after the actor sought a salary bump. “I worked very hard to get where I am today," Hart responded. "I look at myself as a brand and because of that I will never allow myself to be taken advantage of.”
The actor just completed "Ride Along 2" for Universal.
David Fincher In an email with the subject line “Well it ain’t ME,” the director who almost directed "Steve Jobs" blames the studio for the many leaks on that film -- compared to the more tight-lipped studios like Fox, with whom he worked on "Gone Girl."
“I had 15 meetings with Rosamund Pike [for "Gone Girl"] and her DEAL CLOSED before Variety OR The [Hollywood] Reporter ever ran a single blurb,” he said. “This is a CONTINUAL PROBLEM WITH SONY." Since then, Fincher has focused on producing Netflix's "House of Cards."
The president of production at Sony, proved true all the gossip that surrounded his taking the studio job. The "Fifty Shades of Grey" producer left Sony in April 2015 shortly after Tom Rothman's promotion and took a producing deal with Universal.
Getty Images
Michael Fassbender In an email conversation with Sony's then-co-chairman Amy Pascal, screenwriter Aaron Sorkin was blunt about Fassbender, with whom he would end up working on "Steve Jobs." "I don't know who Michael Fassbender is and the rest of the world isn't going to care," Sorkin said. No doubt responding to the actor's frontal-nude scenes in "Shame," producer Michael de Luca wrote, "He just makes you feel bad to have normal-sized genitalia."
Willow and Jaden Smith Tom Rothman wrote an email to Sony's then-co-chairman Amy Pascal, showing her an interview with the Smith kids and saying, "1. Read this," 2. they r home schooled: don’t let this family date your movies!!!"
However, Jaden filmed "Karate Kid" with Columbia Pictures and there had been talk of a sequel.