Entertainment <\/p>\n
\n\tThird-quarter profits at Sony Pictures Entertainment<\/a> slid to $223 million for the three months ended December 31, 2024. That\u2019s a nearly 21% decrease on a U.S. dollar basis versus the similar quarter the previous year<\/a>.\u00a0Adjusted OIBDA (Operating Income Before Depreciation and Amortization) came in at $308 million (-16.5%). Sales, however, were up 6% compared to last year, landing at $2.619 billion.\u00a0Compared to last quarter<\/a>, operating income was up 80%. <\/p>\n \n\tAnnouncing results from Tokyo, Sony Corp<\/a> had strong overall news with consolidated sales for the media and electronics giant up 18% versus last year, to 4,409.6 billion yen ($28.6 billion). Consolidated operating income increased 1% to 469.3 billion yen ($3.05 billion) aided by strength in the Games and Music divisions (more below).<\/p>\n \n\tIn the Pictures segment, Sony Corp attributed the year-on-year swings in part to higher revenues from theatrical releases in the current fiscal year versus 2023. Sony\u2019s biggest title during the third quarter of 2024 was Venom: The Last Dance<\/a><\/em> which hit cinemas in late October and grossed $478 million globally.<\/p>\n \n\tThere was also positive impact on revenues from the acquisition of Alamo Drafthouse Cinema and subscriber growth at Crunchyroll. Those were offset slightly by lower series deliveries in Television Productions and lower licensing revenues from catalog product in Motion Pictures. The drag on operating income was a result of higher marketing costs for theatrical releases, Sony said.<\/p>\n \n\tComing up this quarter, theatrical releases include Paddington in Peru<\/em> which the studio has already been rolling out overseas (to $19 million as of last Sunday) and which releases domestically this week. \u00a0<\/p>\n\n\t\t\tWatch on Deadline\t\t<\/h3>\n<\/p><\/div>\n