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Sony Pictures Tells Film & Entertainment Plateaus In Contrast To The Video Game Industry For Company’s Next Acquisition Plans

While viewing the film & entertainment industry from a far, it can be perceived that the market could perform well beyond the likes of interactive entertainment and video games. However, in recent years it has proven the developed games and online live service drastically outpace Hollywood. But despite the divide growing, publishers continue to push for the silver screen when it comes to expanding its IPs.

Although fans of beloved franchises enjoy the narratives conjured from before, many players are engrossed to witness the same games being translated into television or even a full-length film as well. Disregarding the desire, it is now directly apparent on the stark difference in market performance comparing the mediums that even Sony is admitting video games will helm the firm’s ambitions for future purchases.

From the Bank Of America Merrill Lynch Media, Communications & Entertainment Conference, Video Game Chronicles transcribes to discover that the lead for Sony Pictures is confident coming acquisitions are to favor Sony Interactive Entertainment over the film 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? 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. But I think the next area of consolidation will be the games business.

Tony Vinciquerra, Sony Pictures Chairman & CEO

So far, Sony Interactive Entertainment already made some purchases in favor of PlayStation in 2021. Predating back to June, the PlayStation company bought up the Evolution Championship Series to establish a competitive gaming platform as esports continues to expand. Additionally, the firm also went on to purchase Nixxes Software to bridge its first-party releases to PC also. The most recent of Firespite Studios appears to bring more unique releases to its virtual reality venture now.

What is most intriguing is that despite the claim of favoring the video game division, Sony has expanded the same division into film and entertainment. The Japanese company previously formed PlayStation Pictures to adapt its largest IPs into movies and television series. The latest project appears to be a game tie-in for Twisted Metal, a new report indicates. You can read the full report by heading here.

Do you agree with the Sony Pictures lead?

Source: Video Game Chronicles

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