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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: 4, Interesting) by Thexalon on Wednesday February 01 2017, @02:16PM

    by Thexalon (636) on Wednesday February 01 2017, @02:16PM (#461649)

    See if they report the same kinds of horrendous losses to their shareholders. Because I could imagine plenty of scenarios where for tax purposes they'd lost almost $1 billion, but for shareholder purposes they'd made $250 million.

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  • (Score: 4, Touché) by DeathMonkey on Wednesday February 01 2017, @07:17PM

    by DeathMonkey (1380) on Wednesday February 01 2017, @07:17PM (#461744) Journal

    See if they report the same kinds of horrendous losses to their shareholders.
     
    This _IS_ a report to their shareholders.