Sony Corporation

2nd August 2010

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Objective and Agenda
Objective – To provide background information on Sony Corporation

Agenda
 Company Overview
 Company Profile
 Consolidated Financials  Online Marketing Spend  Marketing Spend Breakup by Channel  Company Strategy  Board Members  Management

 Business Segments  Competitive Landscape

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Generated 9. DVD and CD  Decline in segment sales was largely to unfavorable foreign currency exchange rates. manufactures and sells various kinds of electronic equipment. compared to an operating loss in the previous fiscal year  Planning a major focus on BRIC countries to fuel its growth plans Consumer Products and Devices  Biggest segment accounting for over 40% of the total revenues  Segment as a whole was affected by unfavorable currency exchange rates.and professional-use products. including Blu-ray Disc.8 billion was achieved.8% of Sony’s 2009 revenue Music . as well as decreased sales of broadcast. designs. however Net Operating Margins are expected to increase in future due to LCD TV and cellular phone turning profitable and boost from restructuring charges along with a decrease in network-related costs  Operating income of ¥31. and devices for consumer and industrial markets  Repositioned operations previously reported within the Electronics and Game segments and establishing the Consumer Products & Devices. including broadcast. reflecting lower unit sales of PS2 software and PSP hardware B2B & Disc Manufacturing  Includes Sony’s B2B businesses. sales decreased for BRAVIA LCD televisions and cameras Networked Products & Services Segments  2nd biggest segment accounting for over 20% of the total revenues  Operating income in the game business deteriorated despite cost reductions for PS3 hardware and higher unit sales of PS3 software.1% of Sony’s 2009 revenue Financial Services – Generated 11. instruments.6% of Sony’s 2009 revenue 3 .Executive Summary  Develops.Generated 7. and the disc manufacturing business.and professional-use products Picture. Networked Products & Services and B2B & Disc Manufacturing segments Sony Corp  Revenues fell in FY2009.

Company Overview 4 .

http://tokyo.734 77. and across many countries in North America.900 Business Segments –  Organized around seven business segments:  Consumer Product and Devices. US (FY2009) : 31st March : ¥ 7. Logistics.82 bn) : ¥ 1.731. Global (FY2009) Revenues.825 Operations –  The company. worldwide  Products are marketed throughout the world by sales subsidiaries and unaffiliated distributors.6 bn ( $470.928 79.  Sony has its wide service foot-print in about 200 counties. instruments. and devices for consumer and industrial markets Key Statistics         Ownership Headquarters Founded Employees : Public NYSE. manufactures and sell various kinds of electronic equipment.5 mn) Revenue History 88.Sony | Company Overview  Sony Corporation (Sony) is a Japan based electronics products manufacturing company  Develops.537 63. and the R&D and Common Software Platform Chairman. (Ticker: SNE) : Tokyo. Europe and Asia. as well as direct sales through the Internet 2005 2006 2007 2008 2009 All figures in $ bn Source: Annual Report 2009. has major operations in Japan.gov/e/acs/tacs-7126b. Music. along with its subsidiaries.usembassy. Pictures. B2B & Disc Manufacturing. Procurement and CS (Customer Service) Platform. Japan : May 7. the Manufacturing. Financial Services and Others  Has three horizontal platforms—the Global Sales and Marketing Platform.214 bn ($77. designs. network product and services. CEO and President : Howard Stringer Financial Year End Revenues.html 5 . 1946 : 167.457 70.

7% 0.6% -2.C. compared to an operating loss in the previous fiscal year.0 255.635.000 Vaio laptops due to a temperature control defect that may cause excessive heat and distort its shape Source: Annual Report 2009.  Net Operating Margin are expected to increase in future due to LCD TV and cellular phone turning profitable and boost from restructuring charges along with a decrease in network-related costs Figures in ¥ bn Operating Revenue Operating Profit Revenue Growth Net Operating Margin FY08 (A) 7.7 90.485.729.8 -6.net/earthfc).9 300.62 9% $40.1% 52 Week High 52 Week Low Share Price Graph: August 2009 – August 2010  Launched "Earth F.8% 1.8 -6.0 Stock market Price. LCD televisions— contributed to the improvement in operating results year-on-year.2% FY11 (E) 7.8 billion was achieved. aims to draw attention to the challenges Africa is facing and to communicate the need for support from around the world  Recalled 535.45 $ 24.0 31.―* to Support Worldwide "Public Viewing in Africa" Project During 2010 FIFA World Cup  "Earth F. googlefinance.392." (www.214.9% FY09 (A) 7.9 -227.C.22 $ 28.4% FY10 (E) 7.sony.52 -1.com 6 .0 -2% 3.0 5.  The Financial Services segment and the Consumer Products & Devices segment —in particular.Sony | Consolidated Financials  Operating income of ¥31.2% 4. 3 August 2009 Change $31. 30July 2010 Price.4% FY12 (E) 7.

Sony | Online Marketing Spend Online Marketing Spend (US) During 2009.72 2. $53. Google 7 .24 1.20 0.34 53.25 1.803 18.808 0.87 4.5 mn on online media channels in the US Top 10 sites accounted for nearly 66% of the total online spending by the company Spending was highest on MySpace with over $ 18 million Advertising spend on Consumer goods and entertainment industries accounted for 54% of estimated spending by Sony in 2009 Impressions and Estimated Spending by Site/Sub-Site during 2009 Estimated Spending ($ mn) Site/Sub-Site MySpace (All) New York Times (General) YouTube (All) Yahoo! Homepage MSN Windows Live Hotmail 18.75 1.62 2. Sony spent approx. 88 0.com (All) New York Times Business 9% 6% 6% 7% 8% Entertainment Business to Business Public Services Health MSN Movies Others Consumer Goods Automotive Web Media Financial Services Total Source: Nielsen. Annual Report.509 Estimated Spending by Industry :June 2009 – June 2010 20% 34% 10% Yahoo! (General) Amazon (All) Nick.

Sony | Marketing Spend Breakup by Channel  Total Media spent (USA) in 2009 was $748.8 million     TV accounted for more than 75% of Sony’s marketing budget Media spend on magazine was almost entirely on the National magazine segment Online spend was at the third position Media spend on B2B and Radio was negligible Sony’s Estimated Spending by Media : 2009 76% Sony’s Spending Breakup for TV: 2009 43% 36% 0% 1% 1% TV M a ga zine B 2B 2% 4% 7% 9% Int e rne t R a dio N e ws pa pe r O ut do o r 16 % 2% 3% N et wo r k T V C ab le T V Sp o t T V Sp anish Lang uag e N et wo r k T V Synd icat ed T V Sp anish Lang uag e C ab le T V Sony’s Spending Breakup for Newspaper: 2009 Sony’s Spending Breakup for Radio: 2009 67% 78% 2% 20% 33% Lo c a l N e ws pa pe r N a t io na l N e ws pa pe r Netw ork Radio Spot Radio N a t io na l S unda y S upple m e nt Source: Nielsen. Google 8 . Annual Report.

Sony | Company Focus Streamlining of Operations  Realigned its reportable segments from the first quarter of the fiscal year ended March 31. 2013). Google 9 . Networked Products & Services and B2B & Disc Manufacturing segments Future Priorities  To continue to transform the company to achieve targets of a 5% operating profit margin and a 10% return on equity (ROE) by the year ending March 31. 2010 to reflect the Company’s reorganization  Repositioned operations previously reported within the Electronics and Game segments and establishing the Consumer Products & Devices.  To generate growth with consistent profitability in its core hardware businesses – particularly digital imaging. television and game businesses  To aggressively develop new business including network services  To expand by reaching out to new customers in new geographies  Greater investment in BRIC and emerging economies Source: Annual Report.

and is targeting a 20% market share  Will launch the Sony Internet TV by autumn 2010   Will strive to leverage PS3’s strengths to create new user experiences and generate sales Continued development of innovative. with a long-term goal of achieving a ―Zero Environmental Footprint‖ Source: Annual Report 2009 10 . a new online service platform based upon PSN  Launched its first Full HD 3D-integrated TVs and Blu-ray Disc players in June 2010  Expansion of entry-segment products with increased cost competitiveness into growing markets  To provide customers with the environmentally conscious products  To use its technological expertise to help solve environmental challenges  Announced a new set of Green Targets. where it will strive to lower every product’s power consumption by 30 % versus 2008 levels.Sony | Strategy & Growth Areas Bringing TV and gaming business to profitability along with growing market position  Has an innovative new product lineup and an aggressive sales plan  It is developing the next generation of TV display. networked mobile products  Developed and launched Qriocity.

Sony | Board Members Title Chairman of the Board Sony Corporation Representative Corporate Executive Officer. Hernandez Board Member Board Member Board Member Kanemitsu Anraku Yorihiko Kojima Osamu Nagayama Source: Annual Report 2009 11 . Chairman. CEO and President Sony Corporation Representative Corporate Executive Officer. Vice Chairman Board Member Board Member Board Member Board Member Board Member Board Member Board Member Board Member Board Member Name Yotaro Kobayashi Sir Howard Stringer Ryoji Chubachi Yotaro Kobayashi Yoshiaki Yamauchi Sir Peter Bonfield Fujio Cho Ryuji Yasuda Yukako Uchinaga Mitsuaki Yahagi Tsun-Yan Hsieh Roland A.

Officer in charge of the Networked Products and Services businesses EVP. Professional Solutions and Device businesses EVP. General Counsel EVP. Officer in charge of Product Quality & Safety and Environmental Affairs Executive Deputy President.Sony | Management Title Chairman. Procurement and CS Platform Executive Deputy President. Logistics. Officer in charge of the Consumer Products. Officer in charge of Intellectual Property and the Disc Manufacturing business EVP. Chief Financial Officer Sir Howard Stringer Ryoji Chubachi Name Yutaka Nakagawa Hiroshi Yoshioka Keiji Kimura Nicole Seligman Kazuo Hirai Masaru Kato Source: Annual Report 2009 12 . Officer in charge of Manufacturing. Chief Executive Officer and President Vice Chairman.

Japan and USA together comprised three-fourth of Sony’s revenue  Top three business segments.Sony | Geography and Business Segment Based Sector Performance:  All the business lines of the company reported weak revenues as a result of the negative effect of the appreciation of the yen against the US dollar. Network Products & Services and B2B & Disc manufacturing generated more than 65% of Sony’s 2009 revenue 2009 Revenue Breakup by Geography 2009 Revenue Breakup by Business Segments 26% 26% 24% 24% Europe Japan US Other Countries Source: Annual Report 2009 13 . downturn in business environment and decline in equity in net income (loss) for Sony Ericsson  Europe.Consumer Products & Devices.

Business Segments 14 .

semiconductors.7 -19.5 -0.0 2.655. digital imaging.86% 99. audio-video.27% 1.5 -1.47% -115.5 -17.0 0% FY11 E 3.7% Targets and Strategy: To regain leadership position in LCD TV market.031.targeting 20% worldwide market share (unit basis) by FY2012 Source: Annual Report 2009.94% -46. general and administrative expenses  Revenue and profitability are expected to improve in FY 2010 and FY 2011 Figures in ¥ bn Revenue Revenue Growth Operating Income Operating Margin FY08 A 4.4% FY10 E 3.1 -2.9 13.9% FY09 A 3. Credit Suisse:Consumer Electronics (Technology Hardware & Equipment) July 2010 15 .Business Segment | Consumer Products & Devices (1/2)  Includes Sony’s televisions. components and other businesses  Segment as a whole was affected by unfavorable currency exchange rates Segment Performance:  The operating loss narrowed due to:  Improvement in the cost of sales ratio  Reduction in selling.227.624.

7% 5.4% 479.3 0.5% 642. Credit Suisse:Consumer Electronics (Technology Hardware & Equipment) July 2010 16 .9 FY09 A 1.2% 5.335.0 Digital Imaging Operating Margin Revenue Audio and Video Operating Margin Revenue Semiconductors Operating Margin Revenue Components Operating Margin 0.9 10.0% 277.0% 4.6 0.1 FY10 E 1.8 8.8 10.7 -0. *BRAVIA LCD televisions and Cyber-shot compact digital cameras the benefits of cost reduction efforts exceeded the impact of the decrease in sales Segments Televisions Figures in ¥ bn Revenue Operating Margin Revenue FY08 A 1.0 FY11 E 1.7 -10.4% 516.3% 679.3 -1.8% 530.6 0.275.335.0% 277.2 13.0% 863.5% 516.9 10.1% 555.8 -7. reflecting the contraction of these markets:  BRAVIA LCD televisions.2 8.3% 267.0% 613. which saw an increase in sales.7% Source: Annual Report 2009. due to declines in unit selling prices  Handycam video cameras  Cyber-shot compact digital cameras  Products contributing to the improvement in operating results included *BRAVIA LCD televisions and Cyber-shot compact digital cameras and image sensors.2 8.9 10.Business Segment | Consumer Products & Devices (2/2)  Sales decreased for the following .005.0% 277.7% 516.8% 530.6 0.2% 623.

9 -3. Credit Suisse:Consumer Electronics (Technology Hardware & Equipment) July 2010 17 .2% year-on-year to reach ¥1.0 0.643. PC and other network related businesses  The deterioration of segment sales was attributable largely to decreases for the game business and for VAIO PCs.24% FY10 E 1.8% 670.575.575.8 billion  Operating loss improved ¥4.9% 621.Business Segment | Networked Products & Services  Segment consists of Sony’s game business.0% 801.19% -13.2 1.6% Networked Products & Services Revenue Growth Operating Income Operating Margin Revenue -87.29% -49.4 -5.7 -6.9% Sales in the Game business declined due to:  Unfavorable foreign currency exchange rates  Declines in unit sales of PSP hardware and playstation2 software Game Operating Margin PC and Other Networked Business Revenue Operating Margin Source: Annual Report 2009.9% 699.9 -5.755.0 -3.3% 778.3% 840.4 billion Y-O-Y despite a deterioration of operating income in the game business due to :  Improvement in the profitability of Walkman digital music players and other products  Revenue is expected to improve in FY 2010 followed by a decline in FY 2011 but profitability is projected to increase Segments Figures in ¥ bn Revenue FY08 A 1.2% FY11 E 1.8 10. Segment Performance:  Sales declined 10.1 -5.492.74%- FY09 A 1.0% 984.6 -16.3 -9.0% 733.4 0.0 -1.0 -0.9 -2.33 4.9% - -83.

0% FY11 E 582.5 1.4% -5. a deterioration of ¥13.and professional-use products Segment Performance:  Sales in the B2B & Disc Manufacturing segment decreased 10.0 -0. as well as decreased sales of broadcast.Business Segment | B2B & Disc Manufacturing  Segment encompasses Sony’s B2B businesses.9% FY09 A 504.9% 6.0% year-on-year.2 -10. to ¥ 504.0% FY10 E 554. including Blu-ray Disc. including broadcast and professional -use products. Credit Suisse:Consumer Electronics (Technology Hardware & Equipment) July 2010 18 .2 billion  Reported an operating loss of ¥7. and the disc manufacturing business. DVD and CD.6 3 10.0% B2B & Disc Manufacturing Revenue Growth Operating Income Operating Margin 6.0 1.2% -7.2 -1.3 5.2 billion.  The deterioration of segment sales was attributable largely to unfavorable foreign currency exchange rates.0 -32.7 billion year-on-year  Revenue is expected to improve in FY 2010 and FY 2011 Sales in the broadcast and professional-use products declined due to:  due to a deterioration of the business environment in developed countries  decreases in unit selling prices in the disc manufacturing business Segments Figures in ¥ bn Revenue FY08 A 560.0% Source: Annual Report 2009.

dollar basis. primarily due to :  Higher worldwide theatrical and home entertainment revenues from the current year’s film slate  Increased television revenues due to higher advertising revenues from a number of international (non-North America) channels.S. to ¥42.0 5.7% 42.9 4.0% Pictures Operating Income Operating Margin Sony Pictures commanded 13.5 -16.0 0.8 billion.S.S.1% year-on-year.0% 35.2% FY09 A 705. cable network  Sale of all of its equity interest in a Central European premium pay television business Segment Figures in ¥ bn Revenue Revenue Growth FY08 A 717.0% FY11 E 705.0%. Segment Performance:  On a U.1% FY10 E 705.  Operating income in the segment increased 43.8 6. which is based in the United States  Decline in segment sales was due primarily to the appreciation of the yen against the U.2 -1. Credit Suisse:Consumer Electronics (Technology Hardware & Equipment) July 2010 19 .0 5.0 0. dollar.0% 35. (SPE).4% 29.6% of North American theatrical box office revenue market share in FY2009 Source: Annual Report 2009. segment sales increased 7. and other businesses of Sony Pictures Entertainment Inc.  Revenue and profitability are expected to decline in FY 2010 and FY 2011 Increase in operating income was primarily due to:  Sale of a portion of SPE’s equity interests in both a Latin American premium pay television business and a U.Business Segment | Pictures  Segment comprises the motion pictures and television programming.

0 0.08% 37.S.00% 37.5 7. Segment Performance:  Sales in the Music segment rose 35. Increase in operating income was primarily due to:  Improved results at SME and SMEJ.2% FY09 A 522.0% year-on-year.8 7.6 35.  Operating income rose 31. -based Sony Music Entertainment (SME) and Sony Music Entertainment (Japan) Inc. to ¥36.Business Segment | Music  Sony’s Music segment is primarily comprised of the music recording businesses of U.  Music segment is struggling with owing to the appreciation of the yen against the U.60% 27.4% of Japanese market share and SMEJ in FY2009 Source: Annual Report 2009.1% FY11 E 523.1% Pictures Operating Income Operating Margin SME commanded 28.1 10. Credit Suisse:Consumer Electronics (Technology Hardware & Equipment) July 2010 20 .1% year-on-year.0 7.6% of US market share and SMEJ commanded 17.S.5 billion. (SMEJ). which reflected contributions from hit products including Michael Jackson catalog product  Decline in restructuring expenses from the previous fiscal year Segment Figures in ¥ bn Revenue Revenue Growth FY08 A 387.6 billion. dollar and the continued contraction of the physical music market. to ¥522.0 7.0% FY10 E 523.00% 36.0 0.

0 15.4 billion mainly due to higher revenue at Sony Life.0 15..2 -5. and Sony Bank Inc.4 58.5 19. as well as Sony Finance International Inc. an improvement of ¥193.1% FY10 E 851.2 -7.8% FY09 A 851.  Sony Life also reported higher revenue from insurance premiums.Business Segment | Financial Services  Segment consists of the financial services businesses of Sony Financial Holdings Inc. Ltd.0 -0.00% 130.38% -31.0 0.  Financial Services revenue increased 58.7 billion year-on-year Increase in operating income was primarily due to:  Improvement in net valuation gains from investments in convertible bonds  Decline in the provision of policy reserves  Marked decrease in impairment losses on equity securities  Rise in the Japanese stock market Segment Figures in ¥ bn Revenue Revenue Growth FY08 A 538. Segment Performance:  Operating income amounted to ¥162.. Credit Suisse:Consumer Electronics (Technology Hardware & Equipment) July 2010 21 . including Sony Life Insurance Co. owing to a steady increase in policy amount in force.19% 162. Sony Assurance Inc.05% 130.3% FY11 E 851.5 billion. (SFH) and its consolidated subsidiaries.3% Pictures Operating Income Operating Margin Source: Annual Report 2009.2% Y-o-Y. to ¥851. (Sony Life).

Sony signed a definitive agreement with Sharp Corporation for a joint venture company for manufacturing and selling large-sized LCD panels and modules A company like Sony Corporation. it posted attenuated ROE as -3. it needs to fight counterfeit products among tightening regulations  Operational Inefficiency Threats  Competitive Pressures  Counterfeit Products  Stringent Regulations 22 . operating in a highly competitive market will need to capitalize on opportunities like the growing video console and LCD market.5%.  Poor Liquidity Position Opportunities  Strategic Acquisition  Demand for Video Consoles  Growth in LCD Display Market  In July 2009.3% over 10.2% from Japan and 23. with a huge global presence. To maintain leadership.Sony | SWOT Analysis Weaknesses Strengths  Worldwide Presence  In 2009. followed by 25.662% in 2008.7% from Europe.  In 2009. This was below the S&P 500 companies’ average of 12. Other areas accounted for 26.6% from the US  Diversified Business  Lower Returns in terms of poor profitability ratios. 24. It has been suffering from lower Returns and poor Liquidity and efficiency position. diversified businesses and Strong brand equity.9%.

2010 Tohoku University and Sony Corporation jointly develop the world’s first blue-violet ultrafast pulsed semiconductor laser with 100 watt output Tohoku University and Advanced Materials Laboratories. July.663 million . an Y-o-Y increase of 3. 2010. Sony will build up a global business by launching 40 small.Sony | Recent News 29th. 2010 Sony expands silicon tuner module lineup and begins to ship samples to grow sales Sony Corporation announced that it will begin to ship samples of its extensive lineup of silicon tuner modules. which incorporate its proprietary radio frequency circuit technology 22nd. Sample shipments of the new module are scheduled to begin from June.2kWh-class energy storage module using lithium-ion rechargeable batteries made from olivine-type lithium iron phosphate Sony today announced the development of an energy storage module using lithium-ion rechargeable batteries made with olivinetype lithium iron phosphate as the cathode material.8% and Operating income of $ 753 million as compared to an operating loss in the same quarter of the previous fiscal year 20th. which incorporate Sony's silicon turner IC that conform to worldwide broadcast systems.2kWh-class capacity Source: Company Website 23 . July. The newly-developed module is an energy storage module with 1. 13th. 2010 Announced results for the 3rd quarter ended 30th June 2010 Reported sales of $ 18. July. high-performance silicon tuner modules. 2010 Sony develops 1. Sony Corporation have succeeded in jointly developing a blue-violet ultrafast pulsed semiconductor laser*2 with dramatically improved peak laser beam output levels that are 100 times that of the world's current highest levels. July.

Competitive Analysis 24 .

7 bn    Phillips $11. optical storage * Previous years’ electronics segment is reorganized into Consumer Products & Devices segment by Sony ** All figures in USD *** Panasonic acquired Sanyo Electric Company in FY 2009 Source: Company websites 25 . Russia. Home audio and video. plasma TV. including both plasma and LCD  Innovating existing product lines  Launch plasma TVs that deliver full HD 3D images in 2010 Improve geographical coverage and strengthen position in Brazil. India and China through managerial focus and investment LCD TV. peripherals & accessories  Continue to focus on technology and stylish design for superior products Major Products  LCD TV. audio & video Multimedia. home video.5 bn   Panasonic***  $36. digital camera. although rest of the players reported decline in revenues.Competitive Analysis | Electronics*  Sony’s consumer products segment’s performance was the worst among the peer group. automotive electronics   LCD TV. they maintained profitability Company** Revenue (FY 2009) Revenue Growth y-o-y Operating Margin Strategy Sony  $31. blue ray disc recorder. portable audio  Flat panel TV.5 bn (20%) (9%) (22%)   na Loss of $504 mn 3%   4% na  Partner with IT companies to offer innovative products and services  Planning to launch Sony Internet TV in collaboration with Google  Expand its flat-panel TVs business.8 bn  LG $16.

major focus of Sony and its competitors is on innovative products Company Revenue (FY 2009) Revenue Growth yo-y Sony  $9.Competitive Analysis | Game*  All the players reported decline in revenues in FY 2009.5 bn  (22%)   Microsoft $7. new developer tools. and continued strong exclusive content from its own game franchises Xbox 360 console Xbox Live Zune Major Products Wii Nintendo DS Nintendo DSi * Previous years’ Game segment is reorganized into Network Products & Services segment by Sony ** All figures in USD Source: Company websites 26 .1 bn  (15%) Nintendo  $15. online gaming services.7 bn (6%) Operating Margin  NA  25%  2% Strategy  Focus on innovation to deliver new and exciting user experiences to customers  Release own 3D game titles and continue to actively support the development of 3D games by third-party software developers PlayStation PlayStation3 PlayStation Portable  Focus on new and innovative products  Focus on innovation in hardware architecture.

however its profitability is lowers than Warner and News Corp Company Revenue (FY 2009) Revenue Growth y-o-y Operating Margin Strategy Sony  $7.7%) (16%) (3%)   (11%) 6% 3%  10% 14%  Create a diverse slate of entertainment and develop new ways such as 3D to reach consumers around the world  Cloudy With a Chance of Meatballs  Julie & Julia  District 9  Zombieland  Heavy use of technology to bring down the cost of making.Competitive Analysis | Pictures  Sony’s pictures segment reported least decline in revenues among peers.6 bn   Disney  $6 bn     Warner Bros $11 bn  News Corp $6 bn (1. marketing and distributing the content  Streamline the operations through restructuring and outsourcing Harry Potter and the Half-Blood Prince The Hangover Sherlock Holmes The Blind Side and Invictus  NA Major Movies (2009)  WALL-E  The Chronicles of Narnia: Prince Caspian      Marley & Me and Taken  Night at the Museum  Battle of the Smithsonian  X-Men Origins Source: Company websites 27 .

6 bn  Warner Music $3.51 bn   Universal Music  $6.Competitive Analysis | Music  Sony’s music segment reported most healthy growth in revenues. however profitability is lower than 2 of its biggest competitors Universal Music and EMI Company Revenue (FY 2009) Revenue Growth y-o-y Operating Margin Strategy Sony  $5.1 bn     EMI Music £1.2 bn 41% (6%) 7%   (9%) 7% 13%  19% 4%  Focus on developing both well-known and emerging recording artists  na  Reposition itself as a comprehensive rights management company that can take full advantage of all global opportunities in all markets for music Angel Astralwerks Blue Note Capital Nashville Mute  Evaluate opportunities to add to its catalog or acquire and make investments in companies engaged in similar businesses  Focus on digital distribution of content Asylum Atlantic Bad Boy Cordless Rhino Major Brands Arista Columbia Nashville Legacy Masterworks Epic      A&M/Octone The Verve Music Group Decca Label Group Universal Records South Universal Music Group Nashville Source: Company websites 28 .

Thank you 29 .

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