Sony Sets Sights on New Gaming Studios for PlayStation

Sony is set to make further advancements in its PlayStation division by acquiring additional studios. The tech giant has been on an acquisition spree for the past two years and is now seeking to strengthen its position in the global gaming market through the acquisition of more studios.

The video game industry has been undergoing consolidation, as evidenced by recent high-profile acquisitions. Microsoft's acquisition of ZeniMax and several other studios was followed by Sony's acquisition of five studios in 2021 alone. However, Sony's most significant acquisition occurred in 2022 when it purchased Destiny 2 and former Halo developer Bungie for $3.6 billion. Now, the conglomerate is looking to allocate more funds for additional acquisitions to solidify its global position.

According to The Financial Times, Sony is contemplating a “partial spin-off” of its financial services division to concentrate on its entertainment and image sensor offerings. To clarify, a partial spin-off involves the parent company publicly listing a subsidiary but retaining a minor stake in it, usually to raise more capital. During a news conference, Sony President Hiroki Totoki stated, “To expand our growth over the medium to longer term, we need to invest in image sensors and the entertainment business at an entirely new level.”

Sony's recent announcement of its intention to acquire Crunchyroll has raised eyebrows in the gaming industry. Many speculate that this acquisition is a strategic move by Sony to compete with Microsoft, who has also been aggressively acquiring companies in the last couple of years. Despite previously expressing concerns over the proposed Microsoft-Activision acquisition, Sony seems to be taking a different approach now. It is believed that the recent regulatory approvals Microsoft has received has prompted Sony to reassess its strategy and strengthen its financial position to better deal with global competition.

In addition to this, Sony has also been making a concerted effort to expand its transmedia presence through its IPs. The success of the Uncharted movie and HBO's The Last of Us TV show has encouraged Sony to pursue further adaptations. It has already partnered with Amazon for a God of War show, and a Gran Turismo movie is set to be released soon. Additionally, Netflix is currently working on a Horizon TV show. With more financial resources at its disposal, Sony is likely to continue its transmedia push and explore adaptations for its other IPs.

Source: The Financial Times (via TheGamer)