Sony Says Focus Is On Creativity, With Games, Movies, Music, Sensors, IP, And Not Gadgets

TOKYO — Sony, a Japanese electronics and entertainment company, says it will focus on innovation in movies, animation, and video games rather than traditional gadgetry.

Its CEO, Kenichiro Yoshida, described the company’s plan Thursday, saying Sony was assisting creative workers in delivering what he called “kando,” a moving experience.

Yoshida would not comment on claims that Tokyo-based Sony and Apollo Global Management are interested in acquiring Paramount Global.

Sony | Pixa Bay Image

Sony Says Focus Is On Creativity, With Games, Movies, Music, Sensors, IP, And Not Gadgets

Yoshida stated that the business now focuses on the creative process rather than valuing prior items such as the Walkman portable music player and Trinitron color televisions. He stated that “synergies” are no longer defined by entertainment and electronics but by intellectual property encompassing animation, music, gaming, and films.

In an online briefing, he stated, “We will continue to support people’s creativity through our technology.”

Sony is adapting to harsher circumstances, as competitors produce cheaper but competitive gadgets. According to critics, pursuing careers in film, music, and other forms of entertainment can be financially difficult.

Beginning with the acquisition of EMI Music Publishing in 2018, Sony has invested over 1.5 trillion yen ($10 billion) in the last six years to boost its content creation.

Sony | Pixa Bay Image

Sony Says Focus Is On Creativity, With Games, Movies, Music, Sensors, IP, And Not Gadgets

In 2021, it bought Crunchyroll, which has over 13 million paid customers and distributes Japanese cartoons worldwide. Another was Yoasobi, a Japanese music duet that uses Vocaloid technology, or singing voice synthesizer software, and has gained a global following.

Sony’s real-time computer technology, which records “this moment,” as Yoshida called it, is employed in sports cameras because it can catch fast-moving subjects without distortion

According to Yoshida, it is also utilized for news coverage and editing, 3D video and computer graphics, including successful movies like “Godzilla Minus One” and games based on human athlete movements

Sony | AP News Image

Sony Says Focus Is On Creativity, With Games, Movies, Music, Sensors, IP, And Not Gadgets

Sony recently recorded a quarterly profit of 189 billion yen ($1.2 billion), up from 141 billion yen the year before. The PlayStation gaming machine manufacturer’s quarterly revenue increased 14% to 3.48 trillion yen ($22 billion).

However, for the fiscal year ending March 31, Sony’s profit fell 3% to 970 billion yen ($6.2 billion) due to poor performance in its financial services sector, which will be largely split off next year.

SOURCE – (AP)