Monday, December 22, 2014

How much Sony Picture Lost?


Sony will lose money from the leaks of some movies and proprietary information, and perhaps also from possible lawsuits by employees whose data was disclosed.

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Thong expects the amount to range from 20 billion yen to 25 billion yen (US$170 million-US$210 million). Enough to hurt, but for a company that booked 7.77 trillion yen (US$65.8 billion) in sales in the fiscal year that ended in March, not fatal.

Before the hackers struck, Sony was forecasting US$8.1 billion in annual sales for its movie division out of total sales of 7.8 trillion yen (US$66 billion).

It's possible that all the uproar could lead to the movie making more money that it might have otherwise, said Benjamin Cavender, a senior consumer electronics analyst at China Research Group in Shanghai. Sony Pictures has said it has no further release plans for the film but that does not rule out it being revived later.

"In the short term, it hurts. In the longer term it might be positive in terms of turning the movie into a cult classic," Cavender said.

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