Entertainment <\/p>\n
\n\tSony Pictures<\/a> Entertainment saw operating income dip by nearly $800M for the fiscal year to March 31, 2023, as a lack of tentpole franchise launches bit.<\/p>\n \n\tThe Sony Corp-owned unit, which houses film, TV production and TV networks, reported operating income of 119.3 billion yen ($880M), down from 217.4 billion yen ($1.67B) last year. With no tentpole franchise launches in 2022, the fall was broadly expected.<\/p>\n \n\tFull year 2022 revenues did grow, standing at 1.37BN yen ($10B), compared with 1.24 billion yen the year prior \u2014 an increase of 10%. However, on U.S. dollar basis, there was an 8% drop, with Sony noting 2021 had benefitted from franchise titles such as Spider-Man: No Way Home<\/em> and Venom: Let There Be Carnage<\/em>.<\/p>\n \t<\/p>\n \t<\/a><\/p>\n \n\tLicensing fees for TV also dipped, with Sony pointing to the absence of agreements akin to the 2021 licensing deals for Seinfeld <\/em>and streaming deals for several feature films. However there was benfits from more series deliveries and the acquisitions of TV producers Industrial Media and Bad Wolf.<\/p>\n\n\t\tRelated Story\t<\/h4>\n
\n\t\t\t‘Big George Foreman’ Review: Boxing Biopic Takes Middleweight Swing At Heavyweight Story\t\t<\/h3>\n