In a noteworthy instance of the company repurposing its well-known brands, Sony Group Corp reported on Wednesday that the popularity of smash drama "The Last of Us" from television network HBO is increasing sales of the game series upon which it is based.
During an investor briefing, Sony Interactive Entertainment CEO Jim Ryan expressed the significant impact of each episode release of the show on game sales, stating, "The correlation was remarkably evident as game sales witnessed a tremendous surge whenever a new episode aired."
The triumph of the show stands as a noteworthy illustration of Sony's endeavors to foster cross-business growth following its transition from an electronics manufacturer to a colossal entertainment powerhouse encompassing gaming, music, and film.
As part of its strategy to expand beyond consoles, Sony has extended the reach of the "The Last of Us" franchise, which portrays the challenges faced by characters striving to survive in a post-apocalyptic United States, by introducing it to the PC platform. This move showcases Sony's efforts to diversify its offerings and cater to a broader audience.
Ryan stated that their PC business was already making a significant contribution to the overall profits.
In contrast to $80 million two years ago, Sony anticipates PC revenue to reach $450 million in the current fiscal year.
Console supply chain bottlenecks have diminished, and sales of PlayStation 5 are expected to catch up to and then surpass those of PlayStation 4 during the current fiscal year. Investors are currently anticipating more information on the growth into live services and mobile games.
While single-player games have historically been a strength of Sony, this year's PlayStation investment will be made up primarily of live-service games, which provide constantly updated play.
The gaming industry, in which Sony has traditionally held a gate-keeping role, is anticipated to undergo significant disruption with the advent of cloud technology and artificial intelligence innovations. These advancements are expected to reshape the landscape of the industry.
Ryan mentioned that they have compelling and ambitious plans to expedite their endeavors in the cloud domain, which will gradually unfold in the upcoming months. However, he refrained from divulging specific details at this time.