Sony Corporation

Charlotte Traver, Brendan Weaver, David Sorokanich
sony-logo-1-jpg

Sony Entertainment Logo [15]

Company

Located in New York, NY, Sony Corporation of America is the US headquarters of Sony Corporation, which is based in Tokyo, Japan. Sony is involved in multiple businesses including electronics and mobile, film and television, music, gaming, digital services, and others. Sony employs about 125, 300 people and recorded annual sales of $71.7 billion of the fiscal year ending in March 2016.

Background

Sony Electronics is a leading provider of audio/video electronics and products. Sony Mobile is also a leading company in providing video, game, audio and communications technology products. Sony Pictures Entertainment is a huge innovator in major motion picture production and produces major blockbusters regularly. Sony Music Entertainment is one of the most well-known global recorded music companies and features artists famous on both a local and international scale. Sony/ATV Music Publishing works alongside Sony Music Entertainment and is the world’s leading music publisher. Sony Interactive Entertainment LLC is known for the PlayStation, a popular gaming console owned by millions of Americans. Other businesses that may not be as well known include Sony DADC, Sony Biotechnology Inc., Micronics, Inc., and Sony Card/Sony Rewards. [7]

Sony Pictures Executives

CEO of Sony Entertainment where he oversees the Sony’s global enterprise including Sony Music Entertainment, Sony Pictures Entertainment, and Sony/ATV Music Publishing

Michael Lynton: CEO of Sony Entertainment where he oversees the Sony’s global enterprise including Sony Music Entertainment, Sony Pictures Entertainment, and Sony/ATV Music Publishing [18]

Senior Executive Vice President & Chief Financial Officer for Sony Pictures Entertainment he oversees the company’s financial affairs and development

Philip Rowley: Senior Executive Vice President & Chief Financial Officer for Sony Pictures Entertainment he oversees the company’s financial affairs and development [18]

Executive Vice President & Chief Communications Officer of Sony Pictures Entertainment responsible for the distribution and implementation of Sony Pictures Entertainment communications

Robert Lawson: Executive Vice President & Chief Communications Officer of Sony Pictures Entertainment responsible for the distribution and implementation of Sony Pictures Entertainment communications [18]

Chairman of Sony Pictures Entertainment Motion Pictures Group in which he oversees the production and distribution of all Sony films

Tom Rothman: Chairman of Sony Pictures Entertainment Motion Pictures Group in which he oversees the production and distribution of all Sony films [18]

Senior Executive Vice President & General Counsel for Sony Pictures Entertainment and is the highest ranking legal consultant for Sony and is head of its law department

Leah Weil: Senior Executive Vice President & General Counsel for Sony Pictures Entertainment and is the highest ranking legal consultant for Sony and is head of its law department [18]

Sony Entertainment Financials

Screenshot of MarketWatch Report on Sony Corp. Stocks on Nov. 29, 2016.

Screenshot of MarketWatch Report on Sony Corp. Stocks on Nov. 29, 2016 [13]

Sony Entertainment’s 2016 Q2 Earnings, which were finalized on September 30, 2016, show a 10.8% decrease in Sales and Operating Revenue compared to 2015’s Q2. Q2 is also showing a 45.7% decrease in Operating Income, a 40.5% decrease in Income before Income Taxes, and a 4.8% decrease in Sony Entertainment net income attributed to stockholders. These are all in comparison to the success Sony Entertainment showed in Q2 of 2015. [12] Furthermore, as of November 29, 2016, Sony Entertainment stock prices are at $29.49 per share. This is much lower in comparison to the past three months in which shares were at a high of $34.17. [13]

Sony Launches China Writers Initiative

On November 1, 2016, Sony Pictures Entertainment launched a China Writers Initiative, which will allow emerging and well-known writers from China access to the studios. Writers will be able to work with Hollywood film and television executives and screenwriters to collaborate on ideas for both Hollywood and Hollywood Chinese productions. The program was developed with Sony Pictures China and is intended to be a mutually educational program for both countries involved. Sony Pictures will select four writers at a time to travel to Los Angeles and work at the Sony Pictures Studios. A finalist will then be selected and able to produce their chosen project. [6]

Sony Dives into Virtual Reality

Sony Interactive Entertainment of America has been on the forefront of virtual reality technology and has just recently made VR accessible for all. With the release of the PlayStation VR in October 2016, virtual reality is available for all gamers who wish to take gaming to a new level. Virtual reality takes players into an immersive atmosphere never experienced before, one in which players are in the game themselves and experience something entirely different from traditional gaming. The release of the PlayStation VR included 30 games, but Sony Interactive Entertainment predicts that the PlayStation VR will have 50 games by the end of the year. President Shawn Layden of Sony Interactive Entertainment commented that virtual reality brings a “new medium into the homes of PS4 fans”. Sony Interactive Entertainment hopes that virtual reality will soon enter the homes of many average Americans, as more and more interactive experiences independent of gaming are released. A variety of VR experiences such as Hulu, Allumette, Invasion! and others will soon offer their own interactive experiences. [9]

[11]

Sony’s PlayStation VR outsold other virtual reality headsets released in 2016, including the HTC Vive and Facebook’s Oculus Rift. The PlayStation VR is predicted to outsell both the HTC Vive and Oculus Rift by more than 295,000 headsets, which is largely due to price. The PlayStation VR is a simple add on to the PlayStation 4, so users find this headset to be a better choice since many already own the console. However, SuperData Research’s director of research Stephanie Llamas seems to think that without a push in marketing from Sony, they will forever remain behind their potential.

-Is 2016 The Year Virtual Reality Finally Goes Mainstream? by NPR [14]

New Chairman and CEO of Sony Music

Michael Lynton, CEO of Sony Entertainment, announced that Doug Morris will transition from operational management of Sony Music Entertainment and assume the role of Chairman in April 2017, and Rob Stringer, who was formerly Chairman and CEO of Columbia Records, will become CEO of Sony Music. Over the last six years as CEO, Morris has increased Sony Music’s market share and profitability. This has helped Sony achieve its status as the second largest music company in the world. He has also helped Sony reach its impressive status by initiating partnerships with record labels, extending a joint venture deal with Syco Entertainment, and by supporting the growth and development of Vevo, which he founded with Eric Schmidt in 2009. [4]

Rob Stringer, new CEO of Sony Music [17]

New Bob Dylan releases from Sony Music

A massive 36CD box set of Bob Dylan’s 1966 concert tours of the US, UK, Europe, and Australia was released on November 11 by Columbia Records and Legacy Recordings, the catalog division of Sony Music Entertainment. The box set, “The 1966 Live Recordings”, commemorates the 50th anniversary of the live performances. The recordings are drawn from three main sources: soundboards, CBS Records mobile recordings, and audience tapes. The majority of the recordings are previously unreleased in any format and are being made available for the first time ever. [10]

Sony Pictures Classics Acquires The Comedian

Sony Pictures Classics has announced that they’ve acquired North American rights to Taylor Hackford’s comedy, THE COMEDIAN, starring Robert De Niro and Danny DeVito. Written by Art Linson, the film centers around an aging comic whose attempts to reinvent himself fail to impress an audience that only wants to know him as a former television character he played. Warner Bros. International will be handling foreign distribution of the film, under its deal with Cinelou.[2]

Sony Pictures Acquires TEN Sports From ZEE

Sony Pictures have entered into agreements to acquire TEN Sports Network from Zee Entertainment Enterprises Limited for 385 million dollars. The acquisition will add South Asia’s leading sports network to SPN’s portfolio of channels. Ten Sports holds broadcast rights to wrestling, cricket, football, golf, motorsports, and cycling events. SPN comprises Sony Entertainment Television, one of India’s leading Hindi general entertainment television channels.[5]

ten-sports-network

Sony has acquired TEN Sports Network from Zee Entertainment Enterprises [16]

Sony and Multi-Deal International

In its commitment to broaden its global presence and its support of local language productions, Sony Pictures International Productions has signed a multi-picture development deal with filmmakers Eduardo Cisneros and Jason Shuman. The deal will allow Mexico and LA-based Cisneros and Shuman to write and produce three new films.  Cisneros is one of the most successful writers in the Latin American film industry, with successes such as Instructions Not Included and Familia P. Luche. In 2014, Cisneros and Shuman began collaborating, writing the FOX feature comedy “Upgrade.[3]

Sony Recognized as a Leader in Combating Climate Change

For the second year, Sony has been recognized as one of the highest performing companies on the CDP Japan 500 Climate Change Report 2016. CDP surveyed over 5,500 companies globally to compile their list. Their inclusion in the list recognizes the company’s effort to reduce the energy consumption of its manufactured products, curb greenhouse gas emissions at its operating sites, and accelerate use of renewable energy. Sony is one of 193 companies worldwide to be ranked as an “A” company, a distinction it has achieved for 2 consecutive years. [1]

sony-climate-change

Actions Sony has taken to combat climate change [19]

                                 

Works Cited

  1. Sony Recognized as a Leader in Combating Climate Change in the CDP Japan 500 Climate Change Report 2016 for 2nd Consecutive Year. Retrieved November 27, 2016. 
  2. SONY PICTURES CLASSICS ACQUIRES CINELOU’S THE COMEDIAN. Retrieved November 27, 2016. 
  3. SONY PICTURES INTERNATIONAL PRODUCTIONS SIGNS MULTI-PICTURE DEVELOPMENT DEAL WITH EDUARDO CISNEROS AND JASON SHUMAN. Retrieved November 27, 2016. 
  4. ROB STRINGER PROMOTED TO CHIEF EXECUTIVE OFFICER OF SONY MUSIC ENTERTAINMENT. Retrieved November 27, 2016. 
  5. Sony Pictures To Acquire TEN Sports From ZEE. Retrieved November 27, 2016.
  6. SONY PICTURES ENTERTAINMENT MOTION PICTURE GROUP LAUNCHES CHINA WRITERS INITIATIVE. Sony Pictures. Retrieved: November 28, 2016.
  7. Who We Are. Sony.com. Retrieved: November 29, 2016.
  8. Company News. Sony.com. Retrieved: November 27, 2016.
  9. Gilbert, Ben (November 29, 2016). PlayStation is on track to crush Facebook and HTC in the first year of VR sales. Business Insider. Retrieved: November 28, 2016.
  10. Columbia/Legacy Set to Release Bob Dylan: The 1966 Live Recordings, A Monumental Box Set featuring Every Known Recording from the Artist’s Mythic and Controversial 1966 Tour of the US, UK, Europe and Australia. Retrieved November 27, 2016.
  11. PlayStation VR – Games Preview Summer 2016 | PSVR. Youtube.com. Retrieved November 28, 2016.
  12. Sony Corporation 2016 Q2 Report. Retrieved November 26, 2016. https://www.sony.net/SonyInfo/IR/library/fr/16q2_sony.pdf
  13. MarketWatch Reports on Sony Corporation Stocks. Retrieved November 29, 2016. http://www.marketwatch.com/investing/stock/sne/profile
  14. NPR on Virtual Reality. Retrieved November 25, 2016. http://www.npr.org/sections/alltechconsidered/2015/12/30/461432244/is-2016-the-year-virtual-reality-finally-goes-mainstream
  15. Sony Entertainment Logo. Retrieved November 27, 2016. https://www.sony.co.uk
  16. Ten Sports Logo. Retrieved November 28, 2016. http://www.afaqs.com/news/story/44872_Ten-Sports-unveils-new-network-logo
  17. Rob Stringer Photo. Retrieved November 29, 2016. https://www.sonymusic.com/executives/rob-stringer/
  18. Sony Management Team. Retrieved November 29, 2019. http://www.sonypictures.com/corp/management.html
  19. Sony CRS Reporting. Retrieved November 29, 2016.  https://www.sony.net/SonyInfo/csr_report/environment/

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