Sony Group president Hiroki Totoki has said that the company’s PlayStation division is eyeing strategic investments with an emphasis on intellectual property (IP). Yesterday, Nikkei reported that Sony is ramping up game research and development with a budget of over $2 billion to spend during fiscal year ending March 2024. The company also wants to continue expanding its IP portfolio.
Sony expanding PlayStation IP beyond games
Sony’s already made several moves to take its original IP beyond games. Uncharted and The Last of Us have both experienced commercial success in theaters and on TV, respectively, with a number of other PlayStation IP-based shows and movies still in the works.
But that’s not all. Sony wants to dabble into the field of extended reality. According to Nikkei, Sony wants to utilize its investments in “nine overseas game studios,” one of which is Unreal Engine and Fortnite maker Epic Games. Through its partnership with Epic Games, Sony is bringing its gaming experience to electric cars in collaboration with Honda.
“We will continue to make strategic investments going forward, prioritizing intellectual property,” Totoki was quoted as saying.
Elsewhere, Sony is increasingly investing in development of PlayStation live service games to improve gaming revenue.
