Sony Pictures CEO Says We Can Expect More Video Game Growth

As an overall company, it looks like Sony may be turning to focus more on videogame studio acquisitions and growth, according to Sony Pictures CEO Tony Vinciquerra.

Speaking at the Bank Of America Merrill Lynch Media, Communications & Entertainment Conference, Vinciquerra said that he believes that film has peaked, and that we could expect to see more focus in Sony’s game division.

“I think the traditional medium of television and film has probably peaked and the new growth area will be the games business, and who’s better positioned than Sony for that business?”, he said.

That’s not to say Sony Pictures is closing up shop- instead, all he’s saying is that the video game division Sony Interactive Entertainment is likely to be acquiring even more studios, such as with their acquisition of Firesprite last week.

“I do think you’ll see some consolidation on that side. You’ll probably see a little more on our side as well. I do think there are probably too many film studios and you might see one or two less over the next five-to-ten years”, he says. “But I think the next area of consolidation will be the games business.”

As a multimedia conglomerate, Sony is doing pretty well for itself- the PS5 continues to be one of the hottest selling consoles; hitting 10 million units sold in less than a year; and bolstered by first-party titles such as the upcoming God of War: Ragnarok and Horizon Forbidden West.

Game And Network Services are reportedly the most profitable arm of Sony Corporation, raking in a whole 24.8 billion USD in their annual financial report in April.

Meanwhile in its movie division, Sony Pictures has the upcoming Venom: Let There Be Carnage to look forward to, which also had its release date brought forward.

via VGC

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