Business News

The head of Sony has said that the film studio is not for sale

Sony’s film and television studio is no longer for sale and will continue as an independent player despite strong waves in the entertainment industry around the world, according to the Japanese team’s CEO.

Merger between Discovery and WarnerMedia as well Amazon’s $ 9 billion potential The MGM film studio has sparked interest in investors in the future of Sony Pictures Entertainment, and analysts say it could be worth $ 30 billion.

In an interview Wednesday, Sony CEO Kenichiro Yoshida said Sony Pictures is key to the group’s strategy to become a global provider of music, film, gaming and animation content.

“There is a rigorous reshuffle in the media industry, but I believe that while working with multiple partners, our strategy of creating content as an independent studio will work,” Yoshida said. He added that when he thought he should be part of the Sony Pictures broad group, there was no change.

While traditional media teams have been building more scale, combining with opponents to compete against those like Netflix and Amazon, Sony has taken a different approach. Through recent distributions with Netflix and Disney, he has strengthened ties to streaming services while investing in niche subscription platforms.

They are among Sony Pictures ’movie franchises Spider-Man and Jumanji.

According to Yoshida, Sony has taken steps to closely link various entertainment services, including making the popular PlayStation games Uncharted to films or expanding highly successful animated series Demon Slayer: Kimetsu no Yaiba in television programs, music, and movies.

“I think the reason we were able to sign good deals with Netflix and Disney is because it attracted our PlayStation Productions channels. We can strengthen the ability to create content through this team-wide partnership,” Yoshida said.

At a strategy meeting on Wednesday, Sony said it would spend milioi 2 billion ($ 18 billion) over the next three years to expand its active entertainment and other technologies. Over the past three years, it has signed $ 5 billion in deals, including EMI Music Publishing for $ 2.3 billion and a proposed $ 1.2 billion purchase. AT&T’s anime streaming service Crunchyroll.

When Sony asked him if he was thinking of buying MGM James Bond franchise, Yoshida said the group is constantly exploring options for mergers and acquisitions. “I think MGM has a huge library [of movies and shows], but everything comes with a price and that has to be taken into account, ”he added.

While consolidating in the industry has highlighted the potential value of Sony’s film and television business, analysts say there could be fewer potential buyers for Sony Pictures if Amazon makes a deal to buy MGM.

“Over time, we expect Sony to have more talent and competition for small independent home projects that specialize in making and selling content to streaming services. Demand is high, but supply is growing,” analyst Damian Thong Macquarie wrote in a recent report.

Thong has argued that selling Sony Pictures would be the best way to add value to the sales business so that profits can be used in areas like gaming, although he acknowledged that such a move is unlikely.


Source link

Related Articles

Back to top button