TOKYO — Japanese electronics and entertainment company Sony says it is focusing on creativity in movies, animation and video games, rather than outdated equipment.
Outlining the company’s strategy on Thursday, Sony CEO Kenichiro Yoshida said the company is helping creative professionals deliver “kando,” or experiences that move the heart.
Yoshida did not discuss reports that Tokyo-based Sony and Apollo Global Management are interested in acquiring Paramount Global.
Yoshida said the company is now focused on the creative process itself, rather than past treasures such as the Walkman portable music player and the Trinitron color television. He said “synergies” are no longer between entertainment and electronics, but are determined by intellectual property across animation, music, games and film.
“We will continue to support people’s creativity through technology,” he said in an online briefing.
Sony is trying to adapt to tougher times as rivals make cheaper, more competitive electronics and critics say its ventures into movies, music and other entertainment may not be profitable.
Starting with its acquisition of EMI Music Publishing in 2018, Sony has invested approximately 1.5 trillion yen over the past six years to strengthen its content production.
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 at sporting events because it can capture fast-moving subjects without distortion.
Yoshida said the technology is used in news gathering and editing, as well as 3-D video and computer graphics, including in hit movies like “Godzilla Minus One,” and games based on the movements of human athletes.
Sony recently reported that its quarterly profit rose to 189 billion yen from 141 billion yen a year ago. The PlayStation game console maker’s quarterly sales rose 14% to 3.48 trillion yen.
However, for the fiscal year ending March next year, Sony posted a 3 percent drop in profit to 970 billion yen due to poor performance in its financial services division, which will be privatized next year.
Yuri Kageyama is at X: https://twitter.com/yurikageyama
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