Sony changing entertainment division
After Sony experienced a massive hit in its overall revenues, things were almost certain to change.
Change for the sake of change is never good, but it appears Sony is looking to right the ship. And the company wants it to happen sooner rather than later.
To help steer the new efforts, Sony recently appointed Nicole Seligman as the new head of its Entertainment division.
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Seligman had the role created for her, and she will step down from her previous role as Sony’s general counsel and executive vice president. She will now be reporting to Sony Entertainment chief executive Michael Lynton.
The Entertainment division, which is composed of music and movies, has come under scrutiny throughout the last year. As the company has gone through losses and issues, the Entertainment division has been targeted as needing to be spun off to help the electronics operation continue to thrive. Sony took a different route, instead of separating the division, the company has looked to bolster its performance by putting more focus in that corner.
New plans to increase profitability and the plans for the Entertainment division going forward have yet to be revealed. That being said, Sony chief executive Kazuo Hirai did say he intends to cut Sony Pictures cost by $300 million.
Sony has continued to get pounded in the marketplace across the board. The company’s brand is far from what it used to be and much of the company is operating at a loss. Thankfully, the PlayStation 4 has worked to build some credibility for the once revered tech giant.
The shake up was inevitable, now Sony must hope that the action plan works to set forth a better future.