Japanese electronics and entertainment company Sony says it focuses on creativity in movies, animation and video games, not outdated gadgets
TOKYO — Japanese electronics and entertainment company Sony says it is focusing on creativity in movies, anime and video games, rather than old-fashioned gadgets.
CEO Kenichiro Yoshida outlined the company’s strategy Thursday, saying Sony is helping creative professionals deliver what he calls “kando,” or moving experiences. Stated.
Yoshida did not discuss reports that Tokyo-based Sony and Apollo Global Management have expressed interest in acquiring Paramount Global.
Yoshida said the company now focuses on the creative process itself, rather than treasured products of the past such as the Walkman portable music player and Trinitron color television. He said “synergy” is no longer between entertainment and electronics, but is determined by intellectual property spanning anime, music, games and movies.
“We will continue to support people’s creativity through technology,” he said at an online press conference.
Sony is adapting to tough conditions as rivals make cheaper and more competitive electronics. Critics say its expansion into movies, music and other entertainment areas may not be profitable.
Sony has invested about 1.5 trillion yen ($10 billion) over the past six years to strengthen content production, starting with the acquisition of EMI Music Publishing in 2018.
In 2021, it acquired Crunchyroll, which has more than 13 million paid subscribers and distributes Japanese animation worldwide. The other is YOASOBI, a Japanese music duo that incorporates Vocaloid technology (singing voice synthesis software) and has captivated fans around the world.
Sony’s real-time computing technology records “this moment,” in Yoshida’s words, and is used in cameras for sporting events because it can capture fast-moving subjects without distortion.
Yoshida said the technology is used in news reporting and editing, as well as in 3D video and computer graphics, including hit movies like “Godzilla Minus One,” and games based on the movements of human athletes. That’s what it means.
Sony recently announced that its quarterly profit rose to 189 billion yen ($1.2 billion) from 141 billion yen a year earlier. The PlayStation game console maker’s quarterly sales rose 14% to 3.48 trillion yen ($22 billion).
However, Sony’s profit fell 3% to 970 billion yen ($6.2 billion) in the fiscal year ending in March due to poor performance in its financial services division, which will be partially incorporated next year.
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Yuri Kageyama appears on X: https://twitter.com/yurikageyama