Sony 1999 Annual Report Download - page 24

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22
page
Sony Corporation Annual Report 1999
MESSAGE FROM TOP MANAGEMENT
Looking at our performance during the year under review, we are confident
that we are on track to achieving our goal of becoming a consistent global
entertainment leader.
In a period in which we celebrated the 75th anniversary of Columbia
Pictures, our flagship production company, both of our core businesses—
motion picture and television production—delivered solid earnings. The
results show the stability and marketing-driven focus that were the year’s
primary objectives. Our reorganization of the Motion Picture group to increase
JOHN CALLEY
Chairman and
Chief Executive Officer
Sony Pictures Entertainment Inc.
production, efficiency, and strategic focus is designed to enable the delivery of a well-
balanced film portfolio on a consistent, long-term basis. Additionally, our global expansion
into local language film production in Europe and Asia will further increase the diversity of
our annual film slate. Our Television group now produces programming on five continents
and continues to be the leading independent programming supplier in the United States.
At the same time, we made real progress in positioning Sony Pictures Entertainment
(SPE) for global leadership in the digital era. We established SPE as a state-of-the-art
leader in digital production capabilities and are leveraging our content and technology to
create digital content for global distribution. We are now a recognized leader in releasing
recent and library films in the latest and increasingly popular digital video format, DVD.
SOLID PERFORMANCE IN MOTION PICTURES AND HOME VIDEO
The Columbia Pictures Group delivered a number of hits including The Mask of Zorro, Stepmom,
and I Still Know What You Did Last Summer. To enhance our performance in the years ahead,
SPE formed a new brand—Screen Gems—to acquire and produce low budget, targeted films
to round out our annual slate, and also established a new “kids-oriented” family entertain-
ment unit to create and acquire properties and characters we can market across all lines of
business. Columbia TriStar Home Video maintained steady profit levels in a challenging
REVIEW OF OPERATIONS
Pictures