While there are quite a few media mergers going on in the entertainment industry right now, Sony is not for sale. This according to the CEO of the company, Yoshida Kenichiro. His comments come just days after it was announced that Amazon will buy MGM in a blockbuster deal worth nearly $ 8.5 billion. Despite the big money being thrown around, Sony remains an independent entity within the industry.
In a recent interview, Yoshida Kenichiro made it crystal clear that Sony has no registration for the sale. There has been some speculation that Sony could be a target for another major media company to bolster its streaming offering. But that is not in danger. At least not soon. Kenichiro had this to say about it.
“There is a drastic realignment in the media industry, but I think our strategy of creating content as an independent studio will work in conjunction with several partners.”
What makes Sony unique at the moment is the fact that they don’t play a grand streaming game. Disney +, Apple TV +, HBO Max, Peacock, Paramount +, Discovery + and, yes, Netflix, all double what the industry calls direct-to-consumer offerings. Sony, meanwhile, has opted to make deals with other partners instead. They recently struck big splashy deals with both Netflix and Disney, which will see new movies arriving on their respective streaming services at different times after the movies finish their runs in theaters. Yoshida Kenichiro spoke about that too and said the following.
“I think the reason we’ve been able to get great deals with Netflix and Disney is because they were drawn to our PlayStation Productions pipeline. We can strengthen our ability to create content through such group-wide collaboration.”
Indeed, Sony has worked hard to create movies from its library of PlayStation video games. With PlayStation Productions, highly anticipated movies such as Not mapped, and a TV series based on The last of us, have come together. Sony has more to offer than just Spider Man, as it turns out. The company’s recent notes also confirmed that it wants to bolster its audience without launching a major streaming service.
“Sony plans to strengthen its service, mobile and social space initiatives to further expand these communities, and is committed to expanding the number of people around the world directly connected to the Sony Group because of their desire to consume entertainment from the current number of about 160 million to 1 billion people. “
Sony may not be for sale, but don’t expect the media mergers to stop. Disney bought Fox several years ago. AT&T spins WarnerMedia in a massive merger with Discovery. Amazon’s recent acquisition of MGM. Apple has yet to take a big step and studios such as Lionsgate are seen as possible targets. Be that as it may, Sony is content to wait on the sidelines and keep doing its thing. This news comes to us through the Financial Times.
Topics: Amazon Prime, streaming