Sony Pictures chairman and CEO Tony Vinciquerra has said 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 comments this month at the Bank Of America Merrill Lynch Media, Communications & Entertainment Conference (transcribed by Video Games Chronicle), where he was asked if he expected further consolidation in the film industry. According to Vinciquerra, we will see more mergers and acquisitions on the video game side in the future.
I think the traditional medium of television and film has probably peaked and the new growth area will be the games business, and who is better positioned than Sony for that business? I think you’ll see some consolidation on that side. You’ll probably see a little more on our side as well. I think there are probably too many movie studios and you might see one or two fewer in the next five to ten years. But I think the next area of consolidation will be the games industry.
Sony has repeatedly expressed a desire to bring both entertainment media together and is actively involved in turning some of its beloved first-party franchises into movies and television shows, including The last of us, turned metal, Ghost of Tsushima, and Not mapped. The company is also in a unique position, allowing it to change traits such as: Marvel’s Spider-Man and and Marvel’s Wolverine in video games for exclusive release on PlayStation platforms.
In terms of mergers and acquisitions, Sony has acquired numerous studios in recent months and has plans to add more teams to PlayStation Studios.