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The CEO of Sony Pictures Group said that despite a wave of consolidation in the global entertainment industry, Sony’s film and television studios have not yet been sold and will continue to operate independently.
Merge between Explore and WarnerMedia as well as Amazon’s potential $9 billion deal The film studio MGM has reawakened investor interest in the future of Sony Pictures Entertainment, with analysts claiming that Sony Pictures may be worth as much as $30 billion.
In an interview on Wednesday, the CEO of Sony Yoshida Kenichiro Sony Pictures said it is critical to the group’s strategy to become a global provider of music, movies, games and animation content.
Yoshida said: “The media industry has undergone tremendous changes, but I think our strategy of creating independent studios with multiple partners to create content will work.” He added that he should become a broader group for Sony Pictures Part of the view has not changed.
Although traditional media groups have expanded their scale by merging with competitors to compete with companies such as Netflix and Amazon, Sony has taken a different approach. Through recent distribution deals with Netflix and Disney, it has strengthened its connection with streaming services while investing in niche animation subscription platforms.
Sony Pictures’ film franchise includes Spiderman with Jumanji.
Under Yoshida’s leadership, Sony has also taken steps to more closely link its various entertainment services, including the conversion of popular PlayStation games, such as unknown Movie or expansion of popular animation series Demon Slayer TV shows, music and movies.
“I think we were able to sign good agreements with Netflix and Disney because they attracted our PlayStation Productions production channel. We can enhance our ability to create content through this kind of team-wide collaboration.” Yoshida said .
In a strategic briefing on Wednesday, Sony said it will spend 2 billion yen ($18 billion) in the next three years to focus on expanding entertainment assets and other technologies. In the past three years, it has signed more than US$5 billion in deals, including the acquisition of EMI Music Publishing Company for US$2.3 billion and the proposed acquisition of EMI Music Publishing Company for US$1.2 billion. AT&T’s animation streaming service Crunchyroll.
When asked if Sony is considering buying MGM, James Bond Franchise’s Yoshida said the group has been considering merger opportunities. “I think MGM has an incredible library [of movies and shows], But everything has a price, which needs to be considered. “He added.
Although the industry’s integration highlights the potential value of Sony’s film and television business, analysts said that if any transaction for Amazon’s acquisition of MGM can pass, there may be fewer potential buyers for Sony Pictures.
“As time goes by, we expect Sony will face greater competition for talent and projects from smaller independent companies that specialize in producing content and selling it to streaming services. Demand is high, but supply is low. Growing.” Macquarie analyst Damian Thong wrote in a recent report.
Tong believes that selling Sony Pictures will be the best way to get value from the company so that the proceeds can be used in areas such as games, although he admits that such a move is unlikely.
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