Sony introduced new entertainment
2023.01.04 09:48
Sony introduced new entertainment
Budrigannews.com – When Sony Corporation was Group releases a teaser for its long-awaited adaptation of Sony’s “Gran Turismo” (NYSE:). At the CES 2023 technology trade show this week, PlayStation’s popular car racing franchise will really show off its new identity as a content-driven company.
The movie shows how the company that makes Walkman and Bravia TVs went from being mostly an innovator of hardware to a broad provider of entertainment. According to a dozen current and former senior executives interviewed by Reuters, it also represents a significant reunification of Sony Music, Sony PlayStation, and Sony Pictures Entertainment.
“I characterized our way of life as an inventive diversion organization with a strong groundwork on innovation,” Sony CEO Kenichiro Yoshida said.
Ten billion dollars have been invested in music, games, and anime over the past five years, and the film’s appearance at CES on a stage normally reserved for big-screen TVs and robot pets caps those investments.
One of ten film and television projects based on games that are in various stages of development is titled “Gran Turismo.”
On January 15, HBO’s “The Last of Us,” which is about a man hired to smuggle a 14-year-old girl across a pandemic-ravaged America, will premiere. According to “The New Yorker,” the series might be able to break the curse of bad video game adaptations.
This past month, Amazon A live-action version of the PlayStation hit based on Greek mythology has been ordered by Prime Video as “God of War.”
Beyond content, Sony’s “creative entertainment” business strategy extends.
The Sony-Honda electric car, which is expected to be available to consumers by 2026, is being envisioned as a moving display of Sony’s gaming, entertainment, and camera sensor capabilities.
It will likewise produce repeating membership income like other substance administrations.
Yoshida stated, “We think in the long term, the mobility space will eventually become an entertainment space.”
The high-profile projects, which could not have happened even three years ago, were the result of regular discussions between Sony executives looking for a better way to work together.
Netflix was not pursued by Sony (NASDAQ:). with a rival service and resisted a shareholder activist’s request to spin off its media and entertainment assets or sell them in 2020.
Instead, it made arrangements to supply movies to Walt Disney and Netflix (NYSE:) Disney+ and its series for HBO, Amazon, and Apple Inc. the Apple TV+
The shift is reflected in Sony’s outcomes, with 66% of working benefit coming from games, music and the film studio. The July-September quarter saw an increase in operating profit of 8% to 344 billion yen ($2.6 billion), exceeding analyst expectations. Sony raised its operating profit forecast for the full year in November, despite the games group’s weakness being offset by the music business.
Ulrike Schaede, a Japanese Business professor at UC San Diego’s School of Global Policy and Strategy, stated, “This is a complete pivot of this company into something that’s not longer an electronics company.”
According to Schaede, the company now has a unified corporate narrative that will facilitate division integration.
She said, “That’s the new Sony.” Can they now deliver? I’m not sure.
After a string of box office failures, including the 2016 reboot of the “Ghostbusters” franchise, Sony Pictures was reeling when veteran media executive Tony Vinciquerra was hired to be chairman in 2017. Media executives stated that there were rumors of a possible sale and that revenue from DVD and Blu-ray discs had decreased as a result of pressure from streaming services.
However, Vinciquerra was enticed by the chance to make use of the company’s resources: In the media industry, Sony is the only company with television, film, music, PlayStation, and technology, he stated in an interview.
The “synergy” that Sony promised with its 1989 acquisition of Columbia Pictures Entertainment had been difficult to achieve for decades.
Best case scenario, these constrained coordinated efforts wound up as item situation in a film or showcasing advancement. At best, they impeded the transition to the digital age.
PlayStation Productions was then developed by entertainment industry executives: a division of the games group that focuses on film and television adaptations and is situated on the studio lot in Culver City.
In an interview, PlayStation chief Jim Ryan stated that it served as a cultural attaché to Hollywood, “someone who could talk in their language” and “in a non-confrontational, non-adversarial way just, you know, just try to do the best thing for both divisions.”
The result was the movie “Uncharted,” which came out last year and featured Tom Holland from “Spider-Man” and Mark Wahlberg in a search for Magellan’s lost treasure. When it was released on the streaming service in August, the movie made $401 million worldwide and became the most watched movie on Netflix.
Meanwhile, Puerto Rican rapper Benito Antonio Martnez Ocasio, who goes by the stage name “Bad Bunny” and is signed to Sony Music, will appear in the 2024 release of “El Muerto,” a film based on characters from Sony’s Marvel Universe.
Sony’s strategy will be put to the test once more in August when “Gran Turismo” finally arrives in theaters after 12 years.
Jann Mardenborough, a British racer who, at the age of 19, won the 2011 GT Academy Europe and finished on the podium at the 24-Hours of Le Mans in 2013, is the subject of the film.
Neil Blomkamp, who directed “District 9” and was nominated for an Academy Award, leads a cast that includes David Harbour and Orlando Bloom from “Lord of the Rings” and “Stranger Things” respectively.
Asad Qizilbash, chief executive officer of PlayStation Productions, stated, “We’re telling a true story about wish fulfillment.” We’re celebrating Gran Turismo at the same time because this kid loved playing it.
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