Home > Vulture News > Sony Wins Big With $2 Billion In Ticket Sales For 2009: Disney, Universal & MGM Failed To Deliver

Sony Wins Big With $2 Billion In Ticket Sales For 2009: Disney, Universal & MGM Failed To Deliver

SONY

It was the best of times, it was the worst of times for Hollywood studios this year. While fears of Redbox siphoning away DVD profits loomed large, the main problem seemed to be the studios lack of foresight, which led to overspending on movies that failed to deliver like this summer’s Land of the Lost. Not every major studio got in wrong, though. While MGM, Disney and Universal each fumbled big time, Sony is celebrating a record year with over $2 billion in ticket sales thanks audience favorites like Angels & Demons, This Is It and 2012. Sony worldwide marketing and distribution chairman Jeff Blake told the Hollywood Reporter,

Even in the midst of an economy that continues to challenge our industry, this has been a tremendous year in just about every way we can imagine.

Disney, Universal and MGM have also had a tremendous year, in a Tiger Woods tabloid headline sort of way, and they’ve each replaced key positions, starting at the top, after a lackluster string of flops. For Disney the accumulated failure of movies like Bolt, Bedtime Stories and Confessions of a Shopaholic resulted in President Dick Cook being replaced by Disney Channel head Rich Ross.

Rival Universal took action to replace chairmen Marc Schmuger and David Linde after most of their summer tentpoles (a list that included Land of the Lost, Funny People and Love Happens) were financial disappointments.

In MGM’s case, poorly timed misfires like its Fame remake and the Bruce Willis sci-fi thriller Surrogates were the least of its worries and the studio came back back from the brink of bankruptcy, only after a last minute lending agreement in October. The deal has bought it time to figure out how to pay off nearly $4 billion worth of debt stemming from a 2005 buyout, although Reuters has reported that it’s now planning a total sale of the company, including its film library which includes thirteen Bond movies.

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