Sony watch: studio looks to Skyfall for a lift


Skyfall, the 23rd James Bond movie, can’t have come soon enough for Sony Corp. and its Sony Pictures unit.

Sony reported a lot of bad numbers this week. The parent company reported its seventh straight quarterly loss (details can be found BY CLICKING HERE to view a Bloomberg News story). It had been expeced by analysts to post a profit. Sony Corp. is now worth less than 10 percent of what it was in 2000.

Sony Pictures had an operating profit, but it was down almost 62 percent, according to the Deadline Web site from a year earlier. The Amazing Spider-Man released in July was a big help, the Total Recall remake released in August was not. Sony Corp. said the movie business is not for sale, according to Deadline. Sony Pictures will release two fewer movies a year starting in 2014, according to the Los Angeles Times.

All of which brings us to Skyfall, which Sony is releasing and co-financed with Metro-Goldwyn Mayer. The Bond movie set a seven-day ticket sales record in the U.K., according to Deadline and has sold about $100 million in tickets in various markets since its Oct. 26 debut. Skyfall reaches U.S. shores Nov. 8 at Imax theaters and goes into general release the next day.

Skyfall by itself won’t cure the ills of Sony and Sony Pictures. It’s just one movie and the studio unit has to share Skyfall’s take with MGM and theater chains. But assuming the positive box office buzz continues, Sony won’t mind at all reporting Skyfall numbers. Sony Pictures also will co-finance Bond 24 and Bond 25.