Sony has made waves with its announcement that they have over $5 billion to invest in new acquisitions this year, and the money must be spent before next year. The announcement came during the Morgan Stanley Technology Media and Entertainment 2023 conference by Sony’s CFO, Hiroki Totoki.
He confirmed that the company has spent 1.3 trillion yen so far, and plans to invest another 700 billion yen, or around $5.15 billion, before the year is out.
The money will most likely be spent on expanding PlayStation Studios, with the aim of increasing the number of subscribers to gaming and entertainment services.
This aligns with Sony’s plan, which was announced in 2021, to allocate 2 trillion yen for development and strategic investments over three years.
One of the main goals of this plan was to expand their gaming and entertainment services and increase subscribers, which resulted in the acquisition of Bungie in 2022, among other things.
Q: Can you give us an update on the ¥2 trillions in the investment budget?
"Yes. We spent almost ¥1.3 trillions by the end of last year. We have one more year." – SONY Group CFO Hiroki Totoki
¥700 trillions available for investments (about $5.15 billions) pic.twitter.com/ThTq3jO0Zw
— Roberto Serrano' 🇺🇦☮️🙏🏻 | 📊🎮🍿 (@geronimo_73_) March 7, 2023
As Sony enters the final year of their investment plan, the remaining budget is quite substantial, which could result in a new acquisition of a similar or even larger caliber than the $3.6 billion acquisition of Bungie.
The gaming and gameplay division is currently one of the company’s most profitable branches, making further investment in its development logical.
According to Twisted Voxel, Sony may also want to invest in new teams to avoid losing out to their competitors. With the recent acquisition boom, Sony may be looking to reach out to new teams and studios to further expand their gaming and entertainment services.
The news has sparked excitement among the gaming community, who eagerly await the announcement of new acquisitions and expansions.
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