Sony Pictures Chairman and CEO Tony Vinciquerra has said that he believes the traditional medium of film and television has “peaked,” and that Sony’s video game business is “the new growth area.”
Vinciquerra made his remarks during the Bank Of America Merrill Lynch Media, Communications & Entertainment Conference this month (transcribed by Video Games Chronicle), where he was asked if he anticipated any further consolidation in the movie industry. According to Vinciquerra, we’ll see more mergers and acquisitions on the video games side going forward.
I think the traditional medium of television and film has probably peaked and the new growth area will be the games business, and who’s better positioned than Sony for that business? I do think you’ll see some consolidation on that side. You’ll probably see a little more on our side as well. I do think there are probably too many film studios and you might see one or two less over the next five-to-ten years. But I think the next area of consolidation will be the games business.
Sony has repeatedly expressed its desire to bring both entertainment mediums together and is actively involved in turning some of its beloved first-party franchises into movies and television shows, including The Last of Us, Twisted Metal, Ghost of Tsushima, and Uncharted. The company is also in a unique position, which allows it to turn properties like Marvel’s Spider-Man and and Marvel’s Wolverine into video games for exclusive release on PlayStation platforms.
As far as mergers and acquisitions go, Sony has acquired numerous studios in recent months, and has plans to add more teams to PlayStation Studios.
[Source: VGC]
