Custom Paper: Decline in Sales of Sony Pictures
Decline in Sales of Sony Pictures
Sony Pictures has been in the entertainment industry since 1991 after a series of mergers and acquisitions. Over the past few years, Sony pictures Entertainment company has been recording considerable decline in sales. The steady decline may be attributed to the stiff competition posed by rival companies, shifts in consumer consumption patterns, particularly the drop in DVD sales.
According to Eller & Fritz (2010) Sony Pictures Entertainment was laying-off 450 workers. Between October and December 2010, Sony pictures Entertainment recorded a 26% decrease in quarterly profits and a 66% decrease in year-over-year profits. The decline may also be attributed to the poor performance of blockbuster releases from the company.
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