Sony Sees Profit Rise on Music, Films; Says People Playing Less Games as COVID-19 Restrictions Decrease

Sony, which makes PlayStation consoles, Bravia TVs and Columbia Pictures films, said sales from its music streaming service rose during the quarter.

Sony Sees Profit Rise on Music, Films; Says People Playing Less Games as COVID-19 Restrictions Decrease

Sony sees profit rise on music and films

Highlights
  • Sony reported a 3 percent increase in profit for the second quarter
  • The company continues to deal with challenges posed by the ongoing COVID
  • Sony's sales fell in the video games sector and technology services

Sony's profit edged up 3 percent in the last quarter, weathering production setbacks from COVID-19 lockdowns in Shanghai and a trend away from video gaming as pandemic restrictions eased elsewhere.

Tokyo-based Sony's April-June profit totaled JPY 218 billion (roughly Rs. 12,96,000 crore), up from 212 billion yen a year earlier, the Japanese electronics and entertainment company said Friday.

Quarterly sales rose 2 percent to JPY 2.31 trillion (roughly Rs. 37,45,00,000 crore), on the back of strong demand in Sony's music operations, including for Harry Styles' Harry's House and Doja Cat's Planet Her.

Among the better performers in movies was Morbius, a film based on the Marvel Comics hero. But Sony is hoping Bullet Train, starring Brad Pitt and set for release in August, will do well at the box office.

Sony, which makes the PlayStation video game consoles, Bravia TVs and Columbia Pictures films, said sales from its music streaming service rose during the quarter. Despite some concern about a global economic slowdown, the streaming business was expected to remain stable, said Chief Financial Officer Hiroki Totoki.

Sales fell in the video games sector and technology services. One reason was that, as restrictions related to the coronavirus pandemic eased, people were playing games less and instead going out, Totoki said.

Also, a shortage of computer chips has slowed production of the Sony's PlayStation 5 machine.

Sony's game software sales fell in the latest quarter, while costs for developing software rose. Sony acknowledged the slowdown in shipments may dampen the momentum of game players' interest in PlayStation 5. But the company is banking on major game titles slated for release later in the year to revive sales.

Sony said it expects its full fiscal year profit to fall to JPY 800 billion (roughly Rs. 47,60,000 crore) from the previous year's JPY 882 billion(roughly Rs. 52,45,000 crore).


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Morbius

  • Release Date 1 April 2022
  • Language English
  • Genre Action, Adventure, Drama, Superhero
  • Cast
    Jared Leto, Matt Smith, Adria Arjona, Jared Harris, Al Madrigal, Tyrese Gibson
  • Director
    Daniel Espinosa
  • Producer
    Avi Arad, Matt Tolmach, Lucas Foster

Bullet Train

  • Release Date 4 August 2022
  • Language English, Japanese, Spanish
  • Genre Action, Mystery, Thriller
  • Cast
    Brad Pitt, Joey King, Aaron Taylor-Johnson, Brian Tyree Henry, Andrew Koji, Hiroyuki Sanada, Michael Shannon, Benito A Martínez Ocasio, Sandra Bullock, Zazie Beetz, Logan Lerman, Karen Fukuhara, Masi Oka, Pasha D. Lychnikoff, Miraj Grbić
  • Director
    David Leitch
  • Producer
    Kelly McCormick, David Leitch, Antoine Fuqua
  • REVIEW
  • KEY SPECS
  • NEWS
  • Good
  • DualSense is great
  • Very powerful
  • Reduced loading times
  • Friendlier storage expansion
  • Capable of 8K / 120fps
  • 4K Blu-ray player (finally)
  • Bad
  • Expensive
  • Lack of truly next-gen exclusives
  • Not a generation leap over PS4 Pro at launch
  • Game prices now go up to Rs. 5,000
  • Missing next-gen upgrades for PS4 games
  • No "Quick Resume", as on Xbox Series X
  • Limited backward compatibility
  • No support for Dolby Vision, Dolby Atmos
  • SSD storage amount is restrictive
HDD 825GB PCie Gen 4 NVMe SSD
Processor Custom 8-core AMD Zen 2 CPU @ 3.5GHz with SMT
Graphics Custom AMD RDNA 2 GPU 36 CUs @ 2.23GHz (variable frequency)
RAM 16GB GDDR6
USB 4
Weight 4.5kg
Ethernet Gigabit
Comments

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