Sony 2001 Annual Report Download - page 36

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Sony Corporation Annual Report 2001
34
BUSINESS REVIEW: MUSIC
MESSAGE FROM TOP MANAGEMENT
During the year under review, Sony Music Entertainment Inc. (SMEI), responsible for Sony’s Music business
outside Japan, continued cultivating its artist development efforts, successfully signing, developing, and
establishing a wide range of artists around the world. However, sales and operating income decreased due to
soft market conditions in several territories and increased investments in digital media development. We
have been actively reviewing all areas of our business to achieve and maximize efficiencies. We are also
aggressively pursuing global cost reduction activities and initiatives utilizing advanced technologies to offer
consumers convenient, personalized, and protected access to our music online. By instituting these efficien-
cies, supported by the strength of upcoming releases, we hope to see increased sales and stronger overall
results in the year ending March 31, 2002.
We increased our efforts in combating piracy, offline and online, and protecting intellectual property rights.
SMEI is well on the way to developing the infrastructure to manage and optimize its digital assets. We are
aggressively pursuing strategic alliances to position ourselves so that our active catalogue is digitally available for
delivery on a global basis anywhere and anytime, thus broadening our reach and enhancing our assets.
Jennifer Lopez became the first artist ever
to have an album (
J. Lo
) and a film (
The
Wedding Planner
), both Sony releases,
debut the same week at number one.