Sony Corporation Sony Music Entertainment Inc. Danielle Joiner Background Sony Corporation is a leading manufacturer of audio, video, communications & other technology products for consumer and professional markets. Founded in 1946 Masaru Ibuka and Akio Morita Sony Electronics Inc., Pictures Entertainment Inc., Computer Entertainment Inc., Music Entertainment Inc., Sony/ATV Music Publishing Mission Statement “To become a leading global provider of networked consumer electronics, entertainment and services”. Sony Corporation Top 3 Shareholders Calvert Investment Management Inc. Cacti Asset Management LLC Galaxy Capital Trading Ltd. Sony Music Entertainment Inc. Global recorded music company with a roster that includes both local artists and international superstars. It is home to famous record labels that represent music from every genre. Founded in 1929 as American Record Corporation • 1938- Columbia/ CBS Records • 1991- SME • 2004- Sony BMG • 2008- SME Located in New York, New York in the Sony Building CEO- Doug Morris Sales & Revenues Sony Co.- $79,186 million • Sales- -9.6% Sony Music - $5,400 million • Sales- -5.9% Competition Universal Music Group (UMG) Warner Music Group Corp. (WMG) Strategy 1. Strengthen core businesses (Digital Imaging, Game, Mobile) 2. Turn around the television business 3. Expand business in emerging markets 4. Create new businesses and accelerating innovation 5. Realign the business portfolio and optimizing resources Economic Environment Sony is cutting 8,000 jobs, or 4% of its global work force and another 8,000 temporary and contract jobs to cut costs by $1.1 billion a year.