Michael Lynton renews contract with Sony Entertainment as CEO
Michelle Clancy | 10-04-2013
Michael Lynton, CEO at Sony Entertainment and chairman and CEO of Sony Pictures Entertainment, has renewed his contract with the company.
"This past year, Sony Pictures enjoyed its best performance ever at the worldwide box office, ranking No 1 in the North American theatrical market share among all Hollywood studios due to the strong performance of hits like Skyfall, The Amazing Spider-Man, Men in Black 3 and Hotel Transylvania," the company said. "The company's growing Sony Pictures Television unit now encompasses global production and distribution of top-rated programming across all genres, one of the largest libraries of content and formats, as well as a global portfolio of television networks, channel investments, a premium digital video network and multi-platform ad sales."
During Lynton's tenure, worldwide box office revenue for Sony Pictures' films surpassed the $4 billion dollar mark in 2012 for the first time. Sony Pictures Television now has 18 production companies in 15 countries around the world covering multiple regions and has international television networks with 124 channel feeds in 159 countries reaching over 800 million homes worldwide. In addition, the studio has launched digital entertainment business models like the ad-supported Crackle digital video network, early Electronic Sell-Through (EST) and cloud-based content ownership through UltraViolet.
"Michael's steady leadership and strong vision for the digital future will help keep Sony's entertainment businesses stable and reliable contributors to Sony's growth," said Sony Corp CEO Kazuo Hirai . "I look forward to working closely with Michael in ensuring that music and pictures remain integral parts of our global strategy. We're thrilled he will continue at the helm for years to come."