Sony Group Corp (6758.T) said Wednesday that its independence as a streaming service content supplier is paying off as platform operators face economic pressure.
“Our decision years ago to stay out of the crowded general streaming space and instead become the industry’s leading independent content supplier was clearly the right choice,” Sony Pictures Entertainment CEO Tony Vinciquerra told an investor briefing.
Japanese electronic entertainment conglomerate smashes “The Last Of Us” on HBO Max, “Cobra Kai” on Netflix, and “For All Mankind” on Apple TV+.
As streaming services become profitable, Wall Street examines corporations that spent billions on programming.
As streaming platforms consider content production, production costs are rising.
“Sony Pictures remains in the strongest possible position as evidenced by our ability to provide content to any and all partners and platforms,” Vinciquerra said.
After “Demon Slayer”‘s success, Sony bought Crunchyroll.
Sales are forecast to climb 11% to 1.52 trillion yen ($11.26 billion) this year, with constant operating profit.
“Napoleon” premieres in theaters before streaming on Apple TV+.
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