Michael Lynton Re-Ups As CEO Of Sony Entertainment
Anxiety On Sony Lot As Layoffs Coming Early Next Week
New York and Culver City, CA (April 9, 2013) – Michael Lynton, Chief Executive Officer of Sony Entertainment, Inc. and Chairman and Chief Executive Officer of Sony Pictures Entertainment, has renewed his contract, it was announced today by Kazuo Hirai, President and Chief Executive Officer of Sony Corporation.
Lynton joined Sony Pictures Entertainment in January 2004 and, with Co-Chairman Amy Pascal, they put the studio on a path of stability and success across its lines of business. Lynton was appointed to the additional role of CEO, Sony Entertainment, Inc. in 2012, overseeing Sony’s global entertainment businesses, including Sony Music Entertainment, Sony/ATV Music Publishing and Sony Pictures.
This past year, Sony Pictures enjoyed its best performance ever at the worldwide box office, ranking #1 in 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’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.
At Sony Music, led by Chief Executive Officer Doug Morris, increases in digital revenue and chart-topping performers like One Direction, Adele, Alicia Keys and Pink have driven growth. This past year, under the leadership of Chairman and Chief Executive Officer Martin Bandier, Sony/ATV took over the administration of EMI Publishing, making it the world’s foremost music publishing business.
“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 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.”
During Lynton’s tenure, Sony Pictures has rapidly expanded its global presence and digital footprint. Worldwide box office revenue for Sony Pictures’ films surpassed the four 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 boasts international television networks with 124 channel feeds in 159 countries reaching over 800 million homes worldwide. In addition, the studio has become a leader in digital entertainment pioneering business models like the ad-supported Crackle digital video network, early Electronic Sell-Through (EST) and cloud-based content ownership through UltraViolet.
Lynton commented, “I am grateful to work with some of the finest minds in the entertainment business, starting with my partner at Sony Pictures, Amy Pascal, as well as Doug Morris at Sony Music and Marty Bandier at Sony/ATV. They are the best in their fields, and together we will strive to bring the very best films, music and television shows to our growing, global audiences.
Lynton continued, “We will continue to collaborate closely with Kaz Hirai to create innovative, world-class entertainment and technology experiences, as only Sony can.”
Born and raised in Europe, Lynton attended Harvard College and Harvard Business School. He has previously worked on Wall Street and for The Walt Disney Company, Hollywood Pictures (serving as President), Pearson plc’s Penguin Group (Chairman and CEO), AOL Europe (CEO), AOL International (President) and Time Warner International (President).