Will Smith Is No Spiderman so Sony drops 31%

Sony Pictures declared a nightmare downtick in its revenue and stock today. The studio reported a 31% drop in year-on-year sales to $1.5 billion. That was because last year, the Spiderman-led studio was breaking records, while this year, even though “Hancock” cleared more than $500 million worldwide, the studio still fell back to Earth.
“Hancock” had enormous prints and advertising costs, which have not been offset by any future films.
Sony executives were sheepish about the drop.