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Sony faces £64m costs after massive data breach

Sony’s movie studios are feeling the brunt of a massive hack that leaked its film operations and sensitive data.

The breach could cost them tens of millions of dollars according to security experts, even up to and exceeding $100 million (£64 million).

The main costs for Sony will include investigations into what happened and the repair or replacement of computers. The price of implementing future strategies will play a factor in the final total, as well as operating time lost during the disruption, according to Business Insider.

This is not the first time Sony has been the victim of a costly high-profile hack. In 2011 hackers breached its PlayStation Network system, exposing thousands of users' data.

The new attack, which some believe to be the worst of its kind in the US, will do no favours to Sony’s reputation for protecting customer information.

Losses in the range of $70-100 million (£45-64 million) won’t be a massive financial setback for the media giant, however, which announced an operating profit of $501 million (£320 million) for the financial year.

The loss of trade secrets and customer trust will be difficult to measure, though. Those responsible for the breach released hundreds of secret documents, including company contracts and marketing plans.

The hackers also posted films yet to be released online, including upcoming musical “Annie”. This is where Sony might be hurt most, analysts claim, as studios and actors take their business elsewhere.

"Will they be able to attract high-name stars if those stars believe their personal information will not be protected?" former federal cyber crimes prosecutor, Mark Rash, said. "How do you know what business opportunities are lost? It's hard to put a dollar figure on it."