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[James Sawyer Ford]

Can you give us an update on the ¥2 trillion in the investment budget?

Hiroki Totoki: Yes. We spent almost ¥1.3 trillion by the end of last year. We have one more year.

Watch Sony Group's Morgan Stanley conference from 30:45 to hear it directly.
In 2021:

Sony Group said on Wednesday it will spend 2 trillion yen ($18.39 billion) over the next three years on strategic investments, including a push to expand subscribers to its gaming and entertainment services.

In 2022:

Sony has now revealed it has spent 850 billion yen (roughly $7.4 billion) of its allocated budget, leaving about $10 billion left for further purchases. Sony's current bill includes the substantial $3.6 billion buyout of Bungie, as well as billions in share buybacks.

Now in 2023, Sony has ¥700 trillion remaining for investments. This translates to around $5 billion USD.
Sony's investments since the $18.4 billion announcement include the following.

List of acquisitions by Sony - Wikipedia ​

en.m.wikipedia.org
Acquisitions

16 June 2021	Somethin' Else	Music	UK		Sony Music Entertainment	[SUP][80][/SUP]
29 June 2021	Housemarque	Video game	FIN		Sony Interactive Entertainment	[SUP][81][/SUP]
1 July 2021	Nixxes Software	Video game	NED		Sony Interactive Entertainment	[SUP][82][/SUP]
9 August 2021	Crunchyroll	Film, television, video on demand	USA	$1,175,000,000	Sony Pictures Entertainment/Aniplex	[SUP][83][/SUP][SUP][84][/SUP]
8 September 2021	Firesprite	Video game	UK		Sony Interactive Entertainment	[SUP][85][/SUP]
29 September 2021	Fabrik Games	Video game	UK		Sony Interactive Entertainment	[SUP][85][/SUP]
30 September 2021	Bluepoint Games	Video game	USA		Sony Interactive Entertainment	[SUP][86][/SUP]
4 November 2021	Som Livre	Music	BRA	$255,000,000	Sony Music Entertainment	[SUP][87][/SUP][SUP][88][/SUP]
1 December 2021	Bad Wolf	Television	UK		Sony Pictures Entertainment	[SUP][89][/SUP]
10 December 2021	Valkyrie Entertainment	Video game	USA		Sony Interactive Entertainment	[SUP][90][/SUP]
20 January 2022	Ultra Records	Music	USA		Sony Music Entertainment	[SUP][91][/SUP]
1 February 2022	Lasengle	Video game	JPN		Aniplex	[SUP][92][/SUP]
3 March 2022	Industrial Media	Television	USA	$350,000,000	Sony Pictures Entertainment	[SUP][93][/SUP]
21 March 2022	Haven Studios	Video game	CAN		Sony Interactive Entertainment	[SUP][94][/SUP]
15 July 2022	Bungie	Video game	USA	$3,700,000,000	Sony Interactive Entertainment	[SUP][95][/SUP][SUP][96][/SUP]
18 July 2022	Repeat.gg	Esports	USA		Sony Interactive Entertainment	[SUP][97][/SUP]
4 August 2022	Right Stuf	Film, television, e-commerce	USA		Sony Pictures Entertainment/Aniplex	[SUP][98][/SUP]
29 August 2022	Savage Game Studios	Video game	GER		Sony Interactive Entertainment	[SUP][99][/SUP]
25 October 2022	Pixomondo	Visual effects	USA		Sony Pictures Entertainment	[SUP][100][/SUP]
7 November 2022	Beyond Sports	Software visualization	NED		Sony Electronics	[SUP][101][/SUP]

Pending Acquisitions

22 September 2021

Zee Entertainment Enterprises

Film, television, video on demand

IND

$1,575,000,000

Sony Pictures Entertainment

[102]

Stakes

23 June 2021	Alamo Records	majority	Music	USA		[SUP][147][/SUP]
18 October 2021	Scopely	minority	Video game	USA	$500,000,000	[SUP][148][/SUP]
4 November 2021	Devolver Digital	5.03%	Video game	USA		[SUP][149][/SUP]
9 November 2021	Japan Advanced Semiconductor Manufacturing	20%	Semiconductor	JPN	$500,000,000	[SUP][150][/SUP]
19 January 2022	Ceremony of Roses	majority	Merchandising	USA		[SUP][151][/SUP]
3 May 2022	AccelByte	minority	Video game	USA		[SUP][152][/SUP]
31 August 2022	From Software	14.09%	Video game	JPN	$122,000,000	[SUP][153][/SUP]
11 November 2022	Rapidus	minority	Semiconductor	JPN	$7,500,000	[SUP][154][/SUP]

Some things are missing like Sony's $1 billion investment in Epic Games last year.

 

[James Sawyer Ford]

Limits their options quite a bit to none of the really big players, and likely not even something on the scale of Capcom/Square. I don't think they'll really use all of their alloted budget, to be honest. I'm thinking some smaller, tactical/strategic acquisitions.

 

[Baki]

Limits their options quite a bit to none of the really big players, and likely not even something on the scale of Capcom/Square. I don't think they'll really use all of their alloted budget, to be honest. I'm thinking some smaller, tactical/strategic acquisitions.

If they want to buy a bigger company, the budget will not be an issue. Think of the $18B as the regular investment activity. A big publisher would be a special, one-off case.

 

[adamsapple]

Wait holy shit Sony bought Zee entertainment? That's huge for the Indian market.

 

[James Sawyer Ford]

If they want to buy a bigger company, the budget will not be an issue. Think of the $18B as the regular investment activity. A big publisher would be a special, one-off case.

Sure, they COULD justify a big one off purchase but obviously that requires non-standard board approval above and beyond the budget. I don't see the benefit of buying a massive publisher in their situation.

 

[bitbydeath]

This mean they’ve spent $5B last month on something unannounced?

https://www.neogaf.com/threads/sony-has-10-billion-left-to-spend-on-acquisitions-through-2023.1629516/

 

[Shubh_C63]

Wow Zee in India were the pioneer of television shows and news, they got deep roots. 1.5 years and India couldn't finalize the deal is standard India works in the mix.

 

[Baki]

Sure, they COULD justify a big one off purchase but obviously that requires non-standard board approval above and beyond the budget. I don't see the benefit of buying a massive publisher in their situation.

If the ABK deal closes, there will be plenty of reasons for Sony to buy a large publisher. I would not expect any big gaming acquisitions until after regulators have ruled on that deal.

 

[Fahdis]

I don't care. And I don't like that the industry is being bought up by greedy vultures left right and center wether its Sony, MS, Nintendo or dog turds. I don't know what the infatuation is with corpos buying up devs if all you're going to end up with GAAS in the future with AAA sprinkled in between to keep your ass shut.

 

[Thief1987]

This mean they’ve spent $5B last month on something unannounced?

http://[URL]https://www.neogaf.com/...o-spend-on-acquisitions-through-2023.1629516/

[/URL]

Eh, we are in 2023 year currently iirc

 

[bitbydeath]

Eh, we are in 2023 year currently iirc

That thread was from last month.

 

[Neo_game]

Unbelievable, 3.7 billion $ on Bungie

 

[EN250]

5.1 billion and people were saying T2 was an option?

Good though, focus on "small" gaming stuff like devs purchases or fund/create new groups that can develop games that expand their genres, I only care about that tbh

 

[solidus12]

Sony should acquire Ready At Dawn from Meta.

 

[ChorizoPicozo]

I don't care. And I don't like that the industry is being bought up by greedy vultures left right and center wether its Sony, MS, Nintendo or dog turds. I don't know what the infatuation is with corpos buying up devs if all you're going to end up with GAAS in the future with AAA sprinkled in between to keep your ass shut.

you care enough bro

 

[GreatnessRD]

Fuck all that. Just blow the budget on Nixxes so I can get quality PC ports. Please, and most definitely, thank you!

 

[remember_spinal]

The funniest part is thinking sony only have 5.1billion dollars to spend. Thats not how this works lol

Not that i think they will buy a publishers or that they would even need to

 

[ChorizoPicozo]

5.1 billion and people were saying T2 was an option?

Good though, focus on "small" gaming stuff like devs purchases or fund/create new groups that can develop games that expand their genres, I only care about that tbh

Sony's money is worth more so they say

 

[ChorizoPicozo]

Unbelievable, 3.7 billion $ on Bungie

yep. a total waste. sony got scammed hard.

 

[Unknown?]

Fuck all that. Just blow the budget on Nixxes so I can get quality PC ports. Please, and most definitely, thank you!

They will except only to Linux natively. Happy trails!

 

[feynoob]

Guess this thread is useless then.
https://www.neogaf.com/threads/sony...if-you-believe-a-recent-report.1653742/unread

 

[bitbydeath]

Guess this thread is useless then.
https://www.neogaf.com/threads/sony...if-you-believe-a-recent-report.1653742/unread

Not to say they wouldn’t or couldn’t but that threads source was always a dud, not to mention acquisitions NEVER leak.

 

[GhostOfTsu]

Wait holy shit Sony bought Zee entertainment? That's huge for the Indian market.

 

[rhodesianshepard]

yep. a total waste. sony got scammed hard.

Meh, If Bungie makes another massive GAAS game then the purchase pays for itself. There are rumors they are making an extraction game that would be similar to Tarkov. If they succeed in making a fully refined and polished AAA Tarkov game, they are gonna make heaps. Tarkov would be the new PUBG compared to warzone

Sony obv had knowledge of everything Bungie were working on before purchase too. Which could explain the amount spent

 

[feynoob]

Wait holy shit Sony bought Zee entertainment? That's huge for the Indian market.

As east african person, that is a great get for Sony.
We have a huge followers here that watch bollywood movies alot.

 

[mckmas8808]

Limits their options quite a bit to none of the really big players, and likely not even something on the scale of Capcom/Square. I don't think they'll really use all of their alloted budget, to be honest. I'm thinking some smaller, tactical/strategic acquisitions.

I'm so glad too. They need more AA teams to make VR games and GAAS games. If they can get these AA teams to AAA level in 5 years, then they'll be complete!

 

[mckmas8808]

Sony should acquire Ready At Dawn from Meta.

THIS!!!! Meta could use the money.

 

[ChorizoPicozo]

Meh, If Bungie makes another massive GAAS game then the purchase pays for itself. There are rumors they are making an extraction game that would be similar to Tarkov. If they succeed in making a fully refined and polished AAA Tarkov game, they are gonna make heaps. Tarkov would be the new PUBG compared to warzone

Sony obv had knowledge of everything Bungie were working on before purchase too. Which could explain the amount spent

IF.

time will tell

 

[Gobjuduck]

That’s not enough money to make an impactful acquisition. They could buy half of square enix for that maybe.

 

[ZehDon]

I highly doubt Sony buys up more developers for PlayStation with their money, unless they're expanding their mobile efforts in response to Microsoft's ABK purchase.

With multi-media ventures proving successful, like HBO's adaptation of TLOU and Uncharted, I wouldn't be surprised if Sony uses their remaining cash to further expand their gaming IPs to other media. Snagging an animation studio to make its own animated adaptations, for example, would be a smart play given the immense success Netflix has seen in that arena.

That’s not enough money to make an impactful acquisition. They could buy half of square enix for that maybe.

Why bother - Sony's already locked up Square Enix's biggest titles as exclusives. They might splash their cash to keep more games off Game Pass, though.

 

[gothmog]

Sure, they COULD justify a big one off purchase but obviously that requires non-standard board approval above and beyond the budget. I don't see the benefit of buying a massive publisher in their situation.

Depends on the opportunity. I could see a publisher or two looking at TLOU and seeing how one of their popular properties could shine under Sony.

 

[Mibu no ookami]

IF.

time will tell

Microsoft bought Bungie because they thought Halo showed a lot of promise. Sony buying Bungie based on whatever they've seen says quite a bit about the purchase.

Could it blow up in their face? Most M&A does, but we'll definitely see here. I think it's likely that they at least break even on the purchase.

Bungie isn't as acclaimed as they were on the Xbox or 360 but they still have one of the most successful live services out there in Destiny 2.

I don't think conservative Jim Ryan makes this deal unless he has a strong belief in Bungie.

 

[Mibu no ookami]

I highly doubt Sony buys up more developers for PlayStation with their money, unless they're expanding their mobile efforts in response to Microsoft's ABK purchase.

With multi-media ventures proving successful, like HBO's adaptation of TLOU and Uncharted, I wouldn't be surprised if Sony uses their remaining cash to further expand their gaming IPs to other media. Snagging an animation studio to make its own animated adaptations, for example, would be a smart play given the immense success Netflix has seen in that arena.


Why bother - Sony's already locked up Square Enix's biggest titles as exclusives. They might splash their cash to keep more games off Game Pass, though.

You have to spend money to make money and Sony understands that content is king. We're in a pivotal time in gaming where big moves are likely to define the next 10-15 years of gaming. I don't see Sony being on the wrong side of that. They're going to make a big buy at some point.

They don't really need extra cash to explore transmedia. They already have an animation studio to work with in Sony Pictures Animation. Don't see them buying another animation studio rather than working with their own sister company.

 

[ChorizoPicozo]

Microsoft bought Bungie because they thought Halo showed a lot of promise. Sony buying Bungie based on whatever they've seen says quite a bit about the purchase.

Could it blow up in their face? Most M&A does, but we'll definitely see here. I think it's likely that they at least break even on the purchase.

Bungie isn't as acclaimed as they were on the Xbox or 360 but they still have one of the most successful live services out there in Destiny 2.

I don't think conservative Jim Ryan makes this deal unless he has a strong belief in Bungie.

it seems that Bungie excels at gameplay something thay couldn't be said for their storytelling....maybe if sony gives them a hand in that department Bungie could reach its full potential.

 

[The Fartist]

I don't care. And I don't like that the industry is being bought up by greedy vultures left right and center wether its Sony, MS, Nintendo or dog turds. I don't know what the infatuation is with corpos buying up devs if all you're going to end up with GAAS in the future with AAA sprinkled in between to keep your ass shut.

I don't like it any more than you do but, unfortunately, if Sony and Microsoft don't buy out everyone, the Chinese or Saudis will. The lesser of evils and all that.

 

[feynoob]

You have to spend money to make money and Sony understands that content is king. We're in a pivotal time in gaming where big moves are likely to define the next 10-15 years of gaming. I don't see Sony being on the wrong side of that. They're going to make a big buy at some point.

They don't really need extra cash to explore transmedia. They already have an animation studio to work with in Sony Pictures Animation. Don't see them buying another animation studio rather than working with their own sister company.

The issue with Sony unlike MS is that they have a lot of business division that needs the money.
While MS on other hand can spend $100b on Xbox division easily.

Sony has competition from all those business and can't recklessly spend their money in this current economy.

This is Sony businesses.
https://www.sony.com/en/SonyInfo/products/

 

[Mibu no ookami]

it seems that Bungie excels at gameplay something thay couldn't be said for their storytelling....maybe if sony gives them a hand in that department Bungie could reach its full potential.

I hear people are pretty into the story with Destiny, but obviously they liked the story for Halo as well.

Not sure that they can't do campaign but it doesn't seem like that's their DNA any more.

I'd love for someone to partner with their studio do use their tech for a single player campaign. Think tackling Marathon would be a great get for Bungie and Sony.

 

[MatrixReloaded101]

Sony doesn’t need to buy publishers to get exclusive rights to 3rd party games. They should reinvest that money back into the studios they already own.

 

[Mibu no ookami]

The issue with Sony unlike MS is that they have a lot of business division that needs the money.
While MS on other hand can spend $100b on Xbox division easily.

Sony has competition from all those business and can't recklessly spend their money in this current economy.

This is Sony businesses.
https://www.sony.com/en/SonyInfo/products/

I'm familiar with Sony's business structure.

I don't think many companies can recklessly spend money, even Microsoft (hence why they're having layoffs)

That being said, Sony's primary business is video games and they want to be a leader in video games for the rest of time. That is going to require significant investment in areas where they aren't currently making money, i.e. mobile and PC.

They've seen companies like Activision and T2 kind of dwarf them because their business is so reliant on the success of one box. The PS3 really set them back and they had to spend a ton of money to make PS4 successful. It's only now that we're really seeing the fruit of that labor, but that can all go away quickly without content.

 

[Mibu no ookami]

Sony doesn’t need to buy publishers to get exclusive rights to 3rd party games. They should reinvest that money back into the studios they already own.

Sony's own studios can only make so many games. You see Naughty Dog and Insomniac growing pretty fast, but games take a long time to make and studios take a long time to grow.

I think ultimately we're going to see them buy FromSoftware or Kadokawa by the end of the year. They're almost certainly just waiting for this ABK deal to close before making any big moves.

 

[SplunkyMunkey]

Sony doesn’t need to buy publishers to get exclusive rights to 3rd party games. They should reinvest that money back into the studios they already own.

Try saying that to Microsoft

 

[reinking]

If the ABK deal closes, there will be plenty of reasons for Sony to buy a large publisher. I would not expect any big gaming acquisitions until after regulators have ruled on that deal.

I don't think Sony will. Sony knows who they are. They are not going to change in reaction to Microsoft. I believe that is still a big part of Microsoft's problem with Xbox, they do not really know who they are. It is only going to get worse the bigger they grow.

 

[Baki]

I don't think Sony will. Sony knows who they are. They are not going to change in reaction to Microsoft. I believe that is still a big part of Microsoft's problem with Xbox, they do not really know who they are. It is only going to get worse the bigger they grow.

Sony is a cash rich company with an undervalued stock. The management team is obsessed with growth and growing the company. They want to invest in IPs, expanding their trans-media footprint and aggressively growing their revenue. If ABK closes, Sony will want to secure mega IPs that protect their PlayStation business but also serve as a foundation for future growth for PlayStation, Movies and Music.

Sony's own studios can only make so many games. You see Naughty Dog and Insomniac growing pretty fast, but games take a long time to make and studios take a long time to grow.

I think ultimately we're going to see them buy FromSoftware or Kadokawa by the end of the year. They're almost certainly just waiting for this ABK deal to close before making any big moves.

Yes. ABK deal outcome will let them know the regulatory landscape. All big deals are on hold until the deal is approved or blocked.

 

[rhodesianshepard]

it seems that Bungie excels at gameplay something thay couldn't be said for their storytelling....maybe if sony gives them a hand in that department Bungie could reach its full potential.

Live Service games are never an avenue for good story telling. If anything live service games should follow the soulsborne formula of driving story through lore

 

[ZehDon]

You have to spend money to make money and Sony understands that content is king. We're in a pivotal time in gaming where big moves are likely to define the next 10-15 years of gaming. I don't see Sony being on the wrong side of that. They're going to make a big buy at some point.

They don't really need extra cash to explore transmedia. They already have an animation studio to work with in Sony Pictures Animation. Don't see them buying another animation studio rather than working with their own sister company.

They already did. They over-spent on Bungie to lock up their GaaS expertise to help transition some of PlayStation's infrastructure to support their GaaS endeavours. If even one of their desired 10 games goes big, it'll pay for Bungie and more.

And Sony Pictures Animations is a motion picture animation studio who've done plenty of good business in that arena. TLOU TV Show just put their TLOU PS4 remaster back on the charts - charting higher than the PS5 remaster. Edgerunners resurrected Cyberpunk. The Witcher TV Show was trash and it still brought The Witcher 3 back to the charts. Dropping a movie once every two or three years isn't going to cut it compared to a 10 episode TV show. Maybe they'll partner up for more of their IPs, but they've got a taste of silver screen success now with HBO's show. Eventually, they'll want to bring that in house and reap the rewards themselves.

 

[SplunkyMunkey]

If abk goes through and that's the only amount that Sony has to spend they might aswell just pack up and leave. Because after that abk I garentee you Microsoft will go after another well known studio and yet have there ips off playstation aswell

 

[Mibu no ookami]

They already did. They over-spent on Bungie to lock up their GaaS expertise to help transition some of PlayStation's infrastructure to support their GaaS endeavours. If even one of their desired 10 games goes big, it'll pay for Bungie and more.

And Sony Pictures Animations is a motion picture animation studio who've done plenty of good business in that arena. TLOU TV Show just put their TLOU PS4 remaster back on the charts - charting higher than the PS5 remaster. Edgerunners resurrected Cyberpunk. The Witcher TV Show was trash and it still brought The Witcher 3 back to the charts. Dropping a movie once every two or three years isn't going to cut it compared to a 10 episode TV show. Maybe they'll partner up for more of their IPs, but they've got a taste of silver screen success now with HBO's show. Eventually, they'll want to bring that in house and reap the rewards themselves.

Sony Pictures Animation also does TV.

Cyberpunk getting patched resurrected Cyberpunk more than anything. Edge runners just gave it a bump. The Witcher as you know wasn't animated.

I think their TVs shows are going to have limited success outside of TLOU.

 

[ChorizoPicozo]

Live Service games are never an avenue for good story telling. If anything live service games should follow the soulsborne formula of driving story through lore

that is what Factions will try to debubk.

 

[ZehDon]

Sony Pictures Animation also does TV... I think their TVs shows are going to have limited success outside of TLOU.

So, why would Sony pull a successful movie making company off of making successful movies to game for TV Shows, when it can snag an animation studio and expand its efforts and do both?

... Cyberpunk getting patched resurrected Cyberpunk more than anything. Edge runners just gave it a bump. The Witcher as you know wasn't animated.

OK? Doesn't detract from my point: the TV shows helped those games - who were either suffering bad reputations, or who had been out of the charts for literally years - enormously.

I think their TVs shows are going to have limited success outside of TLOU.

That remains to be seen. In any case, companies the world over have seen the power of a good TV show in terms of boosting video game sales - especially Sony. I'm expecting bigger moves in that arena.

 

[Mibu no ookami]

So, why would Sony pull a successful movie making company off of making successful movies to game for TV Shows, when it can snag an animation studio and expand its efforts and do both?


OK? Doesn't detract from my point: the TV shows helped those games - who were either suffering bad reputations, or who had been out of the charts for literally years - enormously.


That remains to be seen. In any case, companies the world over have seen the power of a good TV show in terms of boosting video game sales - especially Sony. I'm expecting bigger moves in that arena.

That's kind of a silly question. Sony Pictures Animation needs all the IP it can get for TVs or Movies. They're a far stretch from Pixar or Dreamworks.

I guess I'm not grasping your point and how it relates to SPA.

TV is good because it is continuous revenue potentially, but you'll notice they don't have an edgerunners season 2 planned and they sacked Henry Cavill from the Witcher. TLOU has got a good bump from the show, but it's certainly not becoming a top 5 selling game on the charts as a result. I actually think the media strategy for this was poor, but that's me.