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Sony Pictures Entertainment remains “100 percent committed” to theatrical releases for its “premium” films, but it is also moving forward on a full slate of “moderately-priced” titles being developed for streaming services.
Sony Pictures Entertainment chairman and CEO Tony Vinciquerra discussed his group’s outlook in an investor presentation Thursday.
In the slide deck, Vinciquerra emphasized Sony’s role as an independent studio, one that was aggressive in selling films and TV shows to all the major streaming services and TV networks. “Competition in spending among streamers to fuel their platforms will only intensify,” he predicted, citing Warner Bros. Discovery’s commitment to build. global streaming service.
But he also made light of Sony’s commitment to theatrical distribution, highlighting both its tentpole releases (like the Spider Man franchise), and more independent fare like Where the Crawdads Sing.
Sony is now “the only major studio 100 percent committed to the theatrical window for premium IP,” Vinciquerra said. “That makes us an incredibly attractive home for top talent and creators who want their films to follow a traditional theatrical release.”
But he also acknowledged that the box office is “still not back to pre-pandemic levels,” and that there continue to be challenges, with many traditional studios “prioritizing their streaming platforms over theatrical releasing,” and “geopolitical factors like China and Russia… where theatrical releasing for U.S. studios has become increasingly difficult.”
He also highlighted those less expensive film projects, which are being developed with “more flexible distribution options to meet streaming demands for content.”
But by far the greatest opportunity, Vinciquerra told investors, was continued use of Sony’s IP, not only from its current film and TV library, but from the Sony Music and Playstation divisions as well.
He noted the two spinoffs of Amazon’s The Boys that are currently in production, as well as titles based on Playstation franchises like Twisted Metal, The Last of Us, and Ghost of Tsushima, and added that there are 10 more Playstation titles in various stages of development for film and TV.
On the TV front, Sony also plans to further exploit its two largest game show brands: Jeopardy! and Wheel of Fortune.
“We have already began expanding these beloved brands with primetime specials like Celebrity Wheel of Fortune and the Jeopardy! National College Championship, and we are going to do more,” Vinciquerra said.
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