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Employee Retention of Sony Pictures Entertainment

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Employee Retention of Sony Pictures Entertainment
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Pratik Kukreja
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Employee Retention of Sony Pictures Entertainment - April 16th, 2011

Sony Pictures Entertainment, Inc. (SPE) is the television and film production/distribution unit of Japanese multinational technology and media conglomerate Sony. Its group sales in 2010 has been reported to be of $7.2 billion.

On September 28, 1989, Japanese corporation, Sony acquired the American film and television production company Columbia Pictures Entertainment, Inc. (Columbia Pictures, TriStar Pictures, etc.) from The Coca-Cola Company for US$3.4 billion.[5][6][7] The company was renamed Sony Pictures Entertainment in 1991. The next day, Sony also acquired the Guber-Peters Entertainment Company for $200 million (formerly Barris Industries, Inc.) when Sony hired Peter Guber and Jon Peters to head CPE.
Sony has since created numerous other film production and distribution units, such as creating Sony Pictures Classics for art-house fare, by forming Columbia TriStar Pictures (also known as the Columbia TriStar Motion Picture Group) by merging Columbia Pictures and TriStar Pictures in 1998, revitalizing Columbia's former television division Screen Gems, and expanded its growth on April 8, 2005, when a consortium led by Sony and its equity partners acquired the legendary Hollywood studio Metro-Goldwyn-Mayer in a deal worth nearly US$5 billion.[8]
On June 4, 2008, SPE's wholly owned group 2JS Productions B.V. acquired Dutch production company 2waytraffic N.V., famous for Who Wants to Be a Millionaire? and You Are What You Eat for £114.3 million ($223.2 million in US dollars).

Sony Corporation of America, based in New York, NY, is the U.S. subsidiary of Sony Corporation, headquartered in Tokyo, Japan. Sony is a leading manufacturer of audio, video, communications, and information technology products for the consumer and professional markets. Its motion picture, television, computer entertainment, music and online businesses make Sony one of the most comprehensive entertainment and technology companies in the world. Sony's principal U.S. businesses include Sony Electronics Inc., Sony Computer Entertainment America LLC, Sony Pictures Entertainment Inc., and Sony Music Entertainment. Sony recorded consolidated annual sales of approximately $78 billion for the fiscal year ended March 31, 2010, and it employs 167,900 people worldwide.

A leading audio-visual electronics and information technology company in the U.S. and worldwide
A leading motion picture and television production company in the U.S. and worldwide
The co-developer of the CD, DVD, Super Audio CD and Blu-ray Disc
A leading recorded music company in the U.S. and worldwide
The developer, manufacturer, and marketer of PlayStation®2 computer entertainment system, PSP® (PlayStation®Portable) handheld entertainment system, PlayStation®3 (PS3®) system and the PlayStation®Move motion controller
The inventor of a wide range of consumer audio-visual products, such as the BRAVIA®TV, BRAVIA® LCD TV, Cyber-shot® digital camera, Handycam® camcorder, Walkman® digital music player, Reader Digital Book, and Memory Stick® flash media. Also an innovator in IT products, including VAIO® personal computers, and professional products, highlighted by the XDCAM® HD System, HDCAM® 24-P, Digital Betacam® and DVCAM® VTR and camera formats
The only company fully immersed in every link of the 3D value chain, from content creation, acquisition and production to distribution and presentation in the theater and the home. A leader in developing, producing and distributing 3D sports, music and game content, a partner in a new 3D television channel (with Discovery Communications and IMAX Corporation) and other 3D activities, including relationships with ESPN and RealD, the newly opened Sony 3D Technology Center, and a 3D consumer research project
A publicly held company, with shares listed on four stock exchanges worldwide: New York, London, Tokyo and Osaka
A company with 1,006 consolidated subsidiaries worldwide

Sony Pictures Entertainment looks to perks to boost employee engagement with the business and its culture, says Debbie Lovewell

Making movies is a big, but risky business. A blockbuster can be highly profitable for the production company and distributor, but if a film bombs at the box office and fails to recoup its costs, millions can be lost. Sony Pictures Entertainment appears to have hit gold with its latest James Bond film, Quantum of Solace, which took £4.9m at the box office on its opening Friday, breaking the previous record set by Harry Potter and the Goblet of Fire in 2005.

Produced under the Columbia Tristar label, Quantum of Solace is the latest in a series of big-name releases from Sony in recent years, that includes Casino Royale, The Da Vinci Code, Hancock and Spider Man 3.

In the UK, cinema-going is enjoying a boom, with the Cinema Exhibitors Association recording the highest monthly cinema admissions for more than 30 years in July and August.

However, for the fiscal year ending 31 March 2008, Sony Pictures posted an 11.2% decrease in sales. This was attributed to the fact that it released fewer films than in the previous financial year. Despite this, the firm's overall operating income rose by 26.5% to 54 billion yen (£372m), due to the performance of the previous year's film releases in the home entertainment and television markets.

Sony Pictures is a great place for people to grow if you are a dedicated and a hard worker. Michael Lynton and Amy Pascal are two of the best chairmans I have ever seen in any company. They are compassionate, trustworthy, and have great leadership.
The pay is okay - I can probably get a lot more if I applied to another company, but the culture and Michael and Amy is what keeps me here.

Our companies are known for creating products that enrich people's lives. Through Sony Corporation of America and its operating companies - Sony Electronics Inc., Sony Pictures Entertainment Inc. and Sony Music Entertainment - we are also dedicated to improving people's lives. Our commitment extends to helping local communities, fostering better educational systems, funding research to cure devastating diseases, supporting the arts and culture, helping disadvantaged youth, protecting and improving the environment and actively encouraging employee volunteerism.

Our philanthropic efforts reflect the diverse interests of our key businesses and focus on several distinct areas: arts education; arts and culture; health and human services; civic and community outreach; education; the environment; and volunteerism. Each operating company has its own philanthropic priorities and unique resources, from product donations to recordings and screenings that benefit a multitude of causes. Sony Corporation of America is a strong supporter of arts and culture. Education and volunteerism are key components of Sony Electronics Inc.'s philanthropic efforts. Sony Pictures Entertainment is a major supporter of arts education and community involvement, with emphasis in Culver City, California, its world headquarters. Collectively, we have also been quick to provide assistance when large-scale disasters have struck. We've helped victims of major hurricanes, earthquakes, wildfires and the attack on the World Trade Center.

The spirit of philanthropy is deeply imbedded in the culture of Sony in America. We're proud of the dozens of programs and partnerships that have touched thousands of lives in all corners of the country and fill the pages of this brochure. Our 20,000 employees have responded positively to this spirit and have given generously of themselves. They've collected food for the hungry, built homes for the poor, cleaned polluted waterways, mentored the disadvantaged and helped in countless other ways that are detailed in the following pages.

Last edited by pratikkk; April 16th, 2011 at 04:51 PM..
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