Sony has announced that it’s leaning further into the gaming space — this time, within its own studios.
During its first-quarter earnings call, the company said it will put about $300 million toward beefing up its existing software development and expanding its gaming business for the PlayStation 4 and PlayStation 5.
The strategy will complement Sony’s recent pattern of acquiring and assisting developers.
Between January and the middle of December 2021, Sony had acquired five studios
Since the beginning of 2022, Sony has purchased Haven Studios and Bungie.
And in April, Sony invested $1 billion in Epic Games.
There are likely more acquisitions on the horizon: The company reportedly posted a job for a director of corporate development in the first week of May.
2021 Earnings
Sony reported $6.8 billion in revenue for the fiscal year ending in 2021. The number was a drop of 14%. Sony also did not meet expectations for sales of the PS5, which sold 11.5 million — expectations were set at 14.8. million.
Its fourth-quarter earnings, however, were more positive. The company posted $852.7 billion, up 67%
