Sony Pictures Entertainments full-year 2023 operating income fell to $808 million from $894 million, with sales creeping up slightly to $10.315 billion from $10.141 billion.

SPE comprises motion pictures, television productions and media networks, and the full-year 2023 performance of those three segments were impacted by the dual Hollywood strikes.

Sonys fiscal year ended March 31, 2024, and in that period the film division booked revenue of $3.742 billion, up from $3.437 billion from a year ago. SPE released 17 films during the period including Insidious: The Red Door, Love Again, The Popes Exorcist, The Machine, Spider-Man: Across the Spider-Verse, No Hard Feelings, Gran Turismo, The Equalizer 3, Thanksgiving, Dumb Money, Napoleon, Anyone But You and Madame Web. In Sonys fiscal fourth quarter, the motion picture division saw income of $208 million, down from the $281 million operating income in the third quarter. In the latest quarter, the film division benefitted from the performance of the Sydney Sweeney and Glen Powell rom-com Anyone But You that proved to be a big success at the box office, becoming one of the studios top earners in fiscal 2023 making $218 million at the global box office. However, the quarter also saw the release of the Sony/Marvel title Madame Web, that was panned by critics the film boasts a dreary 11 percent Rotten Tomatoes critics score that was another box office misfire for the studios attempts to expand its Spider-Man universe after the equally panned 2022 release Morbius. Related Video

With a production budget of just under $100 million, Madame Web had an underwhelming six-day opening of $25.8 million, and made a total of $100 million at the global box office. In the fourth quarter, Sony films on release included the Biblical epic The Book of Clarence ($6 million of sales at the box office) and franchise movie Ghostbusters: Frozen Empire ($109 million for the days counted within the fourth quarter).

More to come