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MarketScreener Homepage  >  Equities  >  Japan Exchange  >  Sony Group Corporation    6758   JP3435000009

SONY GROUP CORPORATION

(6758)
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Sony : pider-Man' and other Sony films to hit Netflix after theaters

04/08/2021 | 02:47pm EDT

April 8 (Reuters) - Streaming service Netflix Inc reached a deal to offer new "Spider-Man" movies and other films from Sony Pictures to U.S. customers after they play in theaters, the companies said on Thursday.

The five-year arrangement will begin with the 2022 slate of movies, which is scheduled to include Marvel film "Morbius," best-selling book adaptation "Where the Crawdads Sing" and Brad Pitt thriller "Bullet Train."

Future releases are expected to include new installments in the Spider-Man, Venom, Jumanji and Bad Boys franchises.

The movies will hit Netflix after they have finished their run in theaters and been made available for home viewing via video-on-demand. That period typically extends for months, though studios have been experimenting with offering films in homes sooner during the COVID-19 pandemic.

Under the new deal, Netflix also will stream some older films from Sony's library, and will have the first chance to pick up any movies that Sony makes directly for streaming.

The world's largest streaming service is looking to bolster its movie offerings as it faces growing competition from Walt Disney Co, AT&T Inc's HBO Max and others.

Financial terms were not disclosed. The cost to Netflix depends in part on how many movies Sony releases and how each film performs at the box office.

Shares in Netflix rose nearly 1.2% to $553.85 in afternoon trading on Nasdaq. (Reporting by Lisa Richwine in Los Angeles and Nilanjana Basu in Bengaluru; Editing by Ramakrishnan M. and Kevin Liffey)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
NETFLIX, INC. 1.70% 549.22 Delayed Quote.-0.13%
SONY GROUP CORPORATION 0.12% 12205 End-of-day quote.18.67%
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Financials
Sales 2021 8 853 B 81 301 M 81 301 M
Net income 2021 1 063 B 9 760 M 9 760 M
Net cash 2021 2 729 B 25 057 M 25 057 M
P/E ratio 2021 14,1x
Yield 2021 0,45%
Capitalization 15 115 B 139 B 139 B
EV / Sales 2021 1,40x
EV / Sales 2022 1,27x
Nbr of Employees 111 700
Free-Float 97,9%
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Technical analysis trends SONY GROUP CORPORATION
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 14 150,53 JPY
Last Close Price 12 205,00 JPY
Spread / Highest target 56,2%
Spread / Average Target 15,9%
Spread / Lowest Target -22,2%
EPS Revisions
Managers and Directors
NameTitle
Kimio Maki President, CEO & Representative Director
Yuichi Oshima Chief Financial Officer & Executive Officer
Kenichiro Yoshida Chairman
Makoto Toyoda Chief Information Officer & Executive Officer
Tsuyoshi Kodera Head-Information Systems & Security
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