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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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Sony Writes Down $977 Million in its Movie Business, Blames DVD and Blu-Ray Decline
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In Tulsa, Oklahoma, it is against the law to open a soda bottle without
the supervision of a licensed engineer.
(Score: 2) by citizenr on Wednesday February 01 2017, @02:55PM
like Ghostbusters and Angry Birds, you know, the quality stuff ...
(Score: 3, Insightful) by takyon on Wednesday February 01 2017, @03:30PM
The Angry Birds Movie
Budget $73 million
Box office $349.8 million
Ghostbusters (2016 film)
Budget $144 million
Box office $229.1 million
Hollywood accounting aside, these films are still enabled by the ticket buyers.
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(Score: 2) by VLM on Wednesday February 01 2017, @03:49PM
The power of narrowcasting... ghostbusters total haul divided by $16/ticket at my local theater and half to Sony means 42M viewers.
Assuming ALL the viewers are in the USA that means almost 90% of the population wouldn't watch, its just too stupid for them. Look at the IQ curve and think of that 10th percentile way over on the left side... Of course its not quite that simple.
The media is having serious psychological issues converting from being culturally relevant leaders decades ago that everyone watched, to a weird subculture almost no one cares about and is far past cultural escape velocity WRT being relevant to the general population yet still remains profitable, like pulp novels or pro wrestling or cosplay, they just kinda do their own thing while being mostly ignored by the majority culture. Watching the media's decline over the course of my life is pretty amazing.
Kids these days don't know how TV defined America in like the 70s and of course now a days TV is just a screen saver while people play on their phones. You tell a kid today that the entire country went to cosplay events in the 70s and they're like F you old man not fooling us. But seriously, no shit, like the entire country watched MASH and watched the MASH finale, like almost as high of a percentage as people who vote. Yeah nobody watches TV today, a top series might have a tenth of the population watch and 90% ignore it, but in the old days literally everyone watched the same TV shows. Hmm I bet every 80s boy watched the A team and Knight Rider. There isn't any cultural touchstone like that today.
(Score: 2) by takyon on Wednesday February 01 2017, @04:04PM
Just about every big movie now makes more money overseas (total of every country but USA) than in America alone. With China being a big portion of that, IF the film gets past the censors, possibly makes some changes for that market, and is one of a limited number of Western films allowed in theaters each year.
http://www.hollywoodreporter.com/news/china-advances-film-industry-law-924201 [hollywoodreporter.com]
http://chinafilminsider.com/china-abandons-quota-hollywood-films-amid-box-office-slowdown/ [chinafilminsider.com]
The quota was 34 a year, but it looks like that will increase.
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(Score: 3, Insightful) by Gaaark on Wednesday February 01 2017, @04:50PM
Hollywood accounting aside, these films are still enabled by the ticket buyers.
Hollywood accounting aside, these films are still enabled by stupid, stupid people.
--- Please remind me if I haven't been civil to you: I'm channeling MDC. ---Gaaark 2.0 ---
(Score: 0) by Anonymous Coward on Thursday February 02 2017, @07:21AM
But if you're supposedly doing it for profit and you're losing money then you're clearly doing things wrong.
If you're in a Democracy remember the votes of stupid people are often worth as much or even more than yours. So unless you're actually amongst the ruling elites and looking down on the stupid people from your palaces and jets, you shouldn't look down on stupid people ;).