Sony Pictures Entertainment delivered one of the strongest quarters in its history, and it has a web-slinger to thank. The studio reported net income of $488 million, a 527% increase over the same quarter last year, as 'Spider-Man: Brand New Day' continued its historic run at the worldwide box office.
The film has now grossed $2.52 billion around the world, making it Sony Pictures' highest-grossing release ever and the third-highest-grossing film of all time before adjusting for inflation, behind only 'Avengers: Endgame' and 'Avatar.' Its domestic opening weekend alone brought in $360 million, a record-setting start.
Across Sony Pictures, revenue rose 37% year over year to $3.23 billion. The theatrical division was the engine of the quarter, with revenue of $1.28 billion, an increase of more than 1,100% from the prior-year quarter. The September release 'Resident Evil' added to the haul, grossing $400 million worldwide.
Not every part of the studio shared in the boom. Television revenue fell 45% to $483 million, a drop that the theatrical surge more than offset. For the wider Sony group, revenue rose 10% to 3.429 trillion yen ($21.5 billion), with net income up 44% to 450 billion yen ($2.8 billion).
Speaking after the film's record opening, Sony Pictures chief Tom Rothman praised the work of the film's lead trio, Tom Holland, Zendaya and Jacob Batalon. The result cements 'Brand New Day' as the defining hit of the year for Sony, and one of the biggest theatrical successes the industry has ever seen.
