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Sony Writes Down $977 Million in its Movie Business, Blames DVD and Blu-Ray Decline

posted by martyb on Wednesday February 01 2017, @11:48AM   Printer-friendly
from the who-buys-discs-these-days? dept.

takyon writes:

Sony has written down $977 million in its movie business, blaming a decline in physical media sales:

In a Monday statement to investors, the company attributed the "downward revision... to a lowering of previous expectations regarding the home entertainment business, mainly driven by an acceleration of market decline." [...] "The decline in the DVD and Blu-ray market was faster than we anticipated," Takashi Iida, a Sony spokesman, told Bloomberg News.

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  • (Score: 0) by Anonymous Coward on Wednesday February 01 2017, @01:48PM

    by Anonymous Coward on Wednesday February 01 2017, @01:48PM (#461641)

    so if they "write down" does that mean like they write a check for 977 million or what?
    is there a difference between "write down" and "write up" in space?

    does it just mean that they didn't sell the 977 million they thought hey would? 'cause in that case
    i think i'm going to go ahead and "write down" some .. uhm ... 22 trillion us dollars!!!

  • (Score: 3, Informative) by Pino P on Wednesday February 01 2017, @02:00PM

    by Pino P (4721) on Wednesday February 01 2017, @02:00PM (#461644) Journal

    To "write down" an asset means to report a significant drop in its value to the tax authority so that the business can deduct it.

    • (Score: 0) by Anonymous Coward on Wednesday February 01 2017, @05:44PM

      by Anonymous Coward on Wednesday February 01 2017, @05:44PM (#461710)

      Aso .. thanks for explaining. Random value drop ... cool!

  • (Score: 1, Offtopic) by Gaaark on Wednesday February 01 2017, @04:44PM

    by Gaaark (41) on Wednesday February 01 2017, @04:44PM (#461681) Journal

    Trump! We got Trump here! :)

    --
    --- Please remind me if I haven't been civil to you: I'm channeling MDC. ---Gaaark 2.0 ---

  • (Score: -1, Offtopic) by Anonymous Coward on Wednesday February 01 2017, @06:48PM

    by Anonymous Coward on Wednesday February 01 2017, @06:48PM (#461730)

    It means North Korea is winning.

    • (Score: 0) by Anonymous Coward on Thursday February 02 2017, @06:43AM

      by Anonymous Coward on Thursday February 02 2017, @06:43AM (#461899)

      HOW IS THIS OFF TOPIC?!

  • (Score: 2) by Aiwendil on Thursday February 02 2017, @12:24PM

    by Aiwendil (531) on Thursday February 02 2017, @12:24PM (#461961) Journal

    It is close enough (unless you work with it) to think of it as "writing down the premium value", where 'premium' is any non-tangible assets (incl. and future potential earnings), compared to previous estimate.

    And, yes, your "writing down 22trillion dollars" has happened, it roughly is the margin of error for the oil reserves of the OOEC-members.