Sony downsizes film production- now focusing more on tv

After the disappointing performance of Sony's latest high budget blockbuster After Earth Sony have announced that they're going to be cutting down film production going for 23 films a year to 18.

After earth which was directed by M Night Shyamalan and had big name stars like Will Smith had an estimated production budget of $130m yet only grossed $60m, this flop may partially be the reason behind Sony's decision. In the TV market however Sony has recently had a lot of successful with shows such as Breaking Bad becoming wildly popular.

Sony's tv division is thriving, generating $1.5 billion in revenue in the last year, in contrast to this Sony studios posted a $112 million dollar loss in the second quarter. The decision to slash the number of films is likely a financial decision in order to try and increase the corporation's profits.