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16
Sony Corporation Annual Report 2002
We are building on these efforts to establish a strong platform
for growth in the future. Sony Pictures Entertainment (SPE) has
developed a robust franchise-building strategy, led by the record-
breaking Spider-Man film, and including Men In Black II, Stuart Little
2 and Charlie’s Angels 2. Moreover, Sony is leveraging its unique
position as a world-class content producer and leading consumer
electronics company by developing and marketing across content
and devices, and creating entertainment services that make the
devices more compelling.
Question: Could you describe the restructuring programs put in place at the entertainment companies?
Stringer CEO, SCA We have restructured both within and across our operating divisions
to increase efficiency and improve profitability.
SPE executed the 21st Century Project, which expanded film/TV
digitization efforts, reduced corporate overhead, and reorganized and
repositioned television operations. The US TV group is refocused on
made-for-cable and syndicated programming, while also pursuing
strategic opportunities in network programming. The International TV
group is continuing its successful strategy in producing programming
for local markets and managing its investments in more than 30
networks around the world.
Sony Music Entertainment Inc. (SMEI) has focused on enhancing
operational efficiencies, making significant progress in manufactur-
ing consolidation, overhead reduction, clustering of international
offices and the build-out of a state-of-the-art digital asset manage-
ment system.
In addition, SPE and SMEI have participated in Project USA
efficiency initiatives implemented across the Sony Corporation of
America divisions, including media buying consolidation, integrated
supply chain management, and consolidation of IT platforms/infrastruc-
ture. Additional measures, such as a common warehousing and
distribution system, are underway and will yield increased savings.