Well, it seems After Earth was so awful that Sony has decided to scale back its production schedule from 23 to 18 films per year.
Kazuo Hirai, President of Sony, informed investors that “Some of our movies just didn’t perform as we had estimated”.
Instead, Sony will focus on the far more lucrative TV production which over the past few years has brought us Breaking Bad and its forthcoming spin-off Better Call Saul.
“Right now, we are in the golden age of television,” said Steve Mosko, President of Sony Pictures Television. “The possibilities are limitless.”
Though Sony is still a global powerhouse, controlling channels in over 150 countries, the movie production arm suffered a series of high profile flops such as After Earth (£151m) ad White House Down (£127m). A loss of £112m was posted by the Studio for the second quarter.
Don’t count Sony out all together though. Their most recent blockbuster The Amazing Spider-Man is very much at the heart of their future plans, with Michael Lynton (Sony Entertainment CEO) stating that “we do very much ambition about creating a bigger universe around Spider-Man.
Sony Entertainment CEO Michal Lynton added: “We do very much have the ambition about creating a bigger universe around Spider-Man. There are a number of scripts in the works.”