Sony Corp (ADR) (NYSE:SNE) achieved a milestone with the controversial film, The Interview, that is reported to have generated $31 million in unit sales since being released last month. Making it Sony Pictures all time film in terms of earnings. The impressive sales according to Bloomberg’s, Shery Ahn, was down to the free publicity that the company got after being hacked by hackers thought to be backed by North Korea.
The film received massive airplay even on cable and satellite providers through video on demand services allowing Sony Corp (ADR) (NYSE:SNE) to register the impressive earnings. There is expectations that Sony will be able to recoup its production budget at the current pace.
“Now their online sales topping $31 million. They are saying people rented or purchased The Interview through these websites and Pay TV more than four million times. These $31 million in online sales coming on top of more than four million dollars in ticket sales for the movie,” said Mrs. Ahn.
The $31 million constitutes the highest amount that has ever been made on digital release of a Hollywood film; having initially appeared dead in the wake of North Korea’s threats. The film could have generated more had Sony Corp (ADR) (NYSE:SNE) been successful in making the film available to approximately 3,000 theaters it had initially planned.
The impressive sales were made possible by the fact that the movie was made available on a number of web platforms including Google Play, YouTube, and Amazon.com, Inc. (NASDAQ:AMZN). Sony Corp (ADR) (NYSE:SNE) had initially canceled the release of the movie after a number of theaters pulled away from airing it; out of fear of being hacked by the perpetrators of the Sony Picture attack.
The Film has also not had the best of runs in terms of ratings as Ahn notes.
“Despite those not so kind reviews on Rotten Tomato less than three stars and also we see Rolling Stone calling it stupid and in bad taste, people saying was that all the fuzz about? So basically with just that free publicity they got from those cyber-attacks, they are just doing okay publicly,” said Mrs. Ahn.
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