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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: 1, Insightful) by Anonymous Coward on Wednesday February 01 2017, @03:33PM

    by Anonymous Coward on Wednesday February 01 2017, @03:33PM (#461664)

    Oh, they have learned, but not in that way. To the studios movies that have lasting appeal are a bad thing, they don't want their new manure to compete against older output so it is in their own best interest that people only watch something once and them promptly forget it (they've already got your money at that point, assuming it was watched via "legal" channels).

    If they could they'd whipe all the classics from our collective memory.

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