Latest News: Technology |  Celebrity |  Movies |  Apple |  Cars |  Business |  Sports |  TV Shows |  Geek


Filed under: News | Technology News


Sony to Downsize its Movies Department

Sony is looking elsewhere from movies in a bid to resuscitate profits which have been dwindling. It is more interested in television instead of the big screen and that is where it will be concentrating. The giant Japanese firm is to downsize its movies department both literally and metaphorically.

Nov 22 2013, 8:25am CST | by

2 Updates
Sony to Downsize its Movies Department

Photo Credit: Getty Images

YouTube Videos Tweets Comments

Full Story

Sony to Downsize its Movies Department

Kazuo Hirai has taken Sony to where it is today. And while it has been a journey of prosperity, there have been losses along the way. The hardware department seems to be flourishing, yet the software needs updating. Especially, the entertainment division has been facing a downward trend in its luck. 

Most of the movies that came out in recent times did not gross much at the box office. And so there have been budgetary cuts in filmic content as well as some of the staff being laid off. A certain independence from the parent Japanese conglomerate was slated to have been the watchword. However, Kazuo Hirai has rebuffed the offer of separating from the umbrella group. 

Sony seems to finally have faced the music when it comes to its entertainment section. Things were definitely not looking good there. With such movies as Smurfs 2 and White House Down bringing in poor revenues, it was time to smarten up. 

Sony is to cut at least $250 million from its budget in order to keep the ship sailing. And just to show that its intentions are pure Sony has also decided to show greater transparency in its financial figures. Meanwhile, television is where the future lies for this giant. The turnout of poor quality movies was getting in the way of progress. 

Source: The Verge


You Might Also Like


Sponsored Update

Update: 2




More From the Web

Shopping Deals


<a href="/latest_stories/all/all/20" rel="author">Sumayah Aamir</a>
Sumayah Aamir (Google+) has deep experience in analyzing the latest trends.




blog comments powered by Disqus

Latest stories

Apple&#039;s first wearable will not ship until 2015
Apple's first wearable will not ship until 2015
If true, Apple, as it has always been, must be very confident about its timing. After all, it will be the company's new product from an entirely different category, and people will most likely be patient about it.
Jennifer Aniston tasted Jimmy Kimmel&#039;s Wife’s Breast Milk
Jennifer Aniston tasted Jimmy Kimmel's Wife’s Breast Milk
The Friends starlet, Jennifer Aniston shared some very personal matters with the press recently. They included tasting her male friend Jimmy Kimmel's wife’s breast milk! Jimmy Kimmel's
Gwyneth Paltrow facing Lawsuit
Gwyneth Paltrow facing Lawsuit
The famous actress and creator of a website named Goop, Gwyneth Paltrow, is facing a lawsuit by a man who claims she plagiarized his creative phrase. And she is also concerned about her ex-husband’s new relationships.
Ashlee Simpson celebrates Evan Ross Birthday Bash
Ashlee Simpson celebrates Evan Ross Birthday Bash
The pop starlet, Ashlee Simpson celebrated her fiance’s birthday bash and also wore a special hat later on in the style of Mary Poppins.

About the Geek Mind

The “geek mind” is concerned with more than just the latest iPhone rumors, or which company will win the gaming console wars. I4U is concerned with more than just the latest photo shoot or other celebrity gossip.

The “geek mind” is concerned with life, in all its different forms and facets. The geek mind wants to know about societal and financial issues, both abroad and at home. If a Fortune 500 decides to raise their minimum wage, or any high priority news, the geek mind wants to know. The geek mind wants to know the top teams in the National Football League, or who’s likely to win the NBA Finals this coming year. The geek mind wants to know who the hottest new models are, or whether the newest blockbuster movie is worth seeing. The geek mind wants to know. The geek mind wants—needs—knowledge.

Read more about The Geek Mind.