Sony 2005 Annual Report Download - page 21

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Sony Corporation 19
PICTURES http://www.sony.net/movies/
With a consistent and stable approach to its core businesses, SPE achieved record
profitability in the fiscal year ended March 31, 2005. The year was filled with critical
and commercial successes and further strengthened SPE’s position as a global
leader in the entertainment industry. In calendar year 2004, the studio was No. 1 in
theatrical market share in the United States for the second time in the past three
years, and generated ticket sales in excess of $1 billion in each of the United States
and international markets for the third year in a row, which set a company record.
Leading the way was Spider-Man 2, which opened at No. 1 in the United States
and 70 of the international territories in which it was released. The film has grossed
nearly $800 million in worldwide box office revenue to date and won the Academy
Award® for Best Achievement in Visual Effects. In addition, the studio experienced
tremendous success with films such as Hitch and The Grudge. SPE continues to
pursue a local language production and distribution strategy and achieved notewor-
thy results this year with the foreign language films The House of Flying Daggers and
Kung Fu Hustle, which both enjoyed critical acclaim and box office success around
the world.
The strength and consistency of the film slate has translated into significant results
in the home entertainment market, with Spider-Man 2 being this year’s top performer.
In addition, the studio capitalized on content from Sony Pictures Television for DVD
distribution, most notably Seinfeld, which has become one of the fastest selling
television titles on DVD in history. Having digitized more film and television titles than
any other studio, SPE is well positioned for continued success with emerging home
entertainment formats, including the Universal Media Disc (UMD) used by Sony’s
PlayStation Portable (PSP). As a result, PSP owners have the opportunity to watch
some of SPE’s latest films, including Spider-Man 2, on a portable device.
Sony Pictures Television International (SPTI) continued to pursue its branded
international channel strategy with the launches of Animax India in July 2004 and
AXN Germany in November 2004. To date, SPTI has formed or invested in approxi-
mately 40 international networks, which are available in more than 100 countries.
Local Language Television Production
The past decade has seen significant growth in demand for local language
television content. To capitalize on this market trend, SPTI has steadily
expanded its local language production capabilities in key markets around the
world. With dedicated offices in France, Germany, Hong Kong, Miami (Latin
America), the People’s Republic of China, Spain and the United Kingdom, SPTI
manages the production of shows based on its popular game show formats,
such as The Dating Game and The Newlywed Game, as well as scripted
formats. The Nanny, for example, which ended production in the United States
in 1999, is now enjoying success with localized versions in Greece, Russia,
Turkey and Argentina.
Today, SPTI is the global leader in local language production, with more
than 9,000 episodes produced in over 30 countries. In fact, SPTI is the No. 1
independent comedy producer in Germany and produces more original
programming in Russia than any other major Hollywood studio. In November
2004, SPTI formed the first fully government-approved television production
joint venture in the People’s Republic of China.
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