Sony 1997 Annual Report Download - page 29

Download and view the complete annual report

Please find page 29 of the 1997 Sony annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 65

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65

27
Sony Corporation Annual Report 1997
Review of Operations Pictures Group
In November 1996, Sony Pictures Entertain-
ment (SPE) named a new senior management
team led by President and Chief Operating
Officer John Calley, one of Hollywood’s most
highly respected and experienced executives.
The new team has launched several initiatives
designed to build on SPE’s existing strengths,
generate new competitive capabilities and
transform the company into a higher-margin,
premium valued global entertainment
enterprise. These initiatives draw upon one
of SPE’s most valuable and renewable
assets — a filmed entertainment library of
more than 3,500 motion pictures and
35,000 television episodes.
Enhancing SPE’s Motion Picture
Momentum
After three quarters of disappointing box office
results, SPE’s motion picture business ended
the year with the blockbuster romantic com-
edy
Jerry Maguire
, which has grossed $150
structure, SPE’s motion picture companies
have shifted their development and produc-
tion operations to focus on three distinct cat-
egories of motion pictures — franchise films,
star-driven movies, and lower-budget motion
pictures. SPE’s 1997/98 release slate features
several films with franchise potential such as
Men In Black
,
Starship Troopers,
and
Godzilla
. All have the potential to create
character licensing, retail, sequel, and other
business opportunities throughout the Sony
family. Fresh off the success of
Jerry Maguire
,
the movie division is also focusing on star-
driven motion pictures featuring actors with
proven global appeal.
Columbia TriStar Home Video (CTHV),
recently integrated into SPE’s movie division,
achieved worldwide success in both the
home video rental and direct-to-sales markets
during the year. CTHV’s
Jumanji
was the
biggest home video release in SPE’s history.
Matilda
and
Fly Away Home
were also direct-
to-sales successes.
CTHV’s sell-through release of
Jumanji
emphasizes the con-
tinued value chain of motion
pictures beyond U.S. and inter-
national theatrical releases.
Show me the Oscar
©
: Five Academy Award
©
nominations, including one for
Best Picture, added momentum to SPE’s
Jerry Maguire
, which has grossed over
$250 million worldwide. Cuba Gooding, Jr. won the 1996 Oscar for Best
Supporting Actor.
Entertainment
million at the U.S. box office.
The performance of SPE’s
early 1997 slate, including
Fools Rush In
,
Donnie
Brasco
, and Columbia/Castle
Rock’s
Absolute Power
, con-
tributed to renewed
momentum in SPE’s motion
picture business. Carryover
profits from the international
box office and home video
performances of earlier hits
such as
Sense and Sensibility
and
Jumanji
underscored the
multiple revenue opportuni-
ties for quality products.
In the new organization