Sony earnings drop due to movie marketing costs
Seems Sony needs to learn that the number of dollars (or yen) spent to bring in the audience should ideally be less than the amount that audience is going to spend:
Sony posted a loss of 1.2 billion yen from its movie division, compared with a profit of 4.2 billion yen a year earlier, because of increased marketing expenses. Sales increased 42 percent to 204.8 billion yen.
“The Da Vinci Code,” based on the best-selling book by Dan Brown, has reaped $741 million in sales, making it this year’s highest-grossing film worldwide, according to Box Office Mojo LLC. The film cost about $125 million to make.
Sony, which doesn’t disclose how much it spends on marketing movies, is betting on titles such as the November release of the James Bond film “Casino Royale,” and next year’s “Spider-Man 3” to boost earnings.
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movie marketing, sony pictures
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