Sony Group Corp is reaping the rewards of its decision to remain an independent content provider to streaming services. The Japanese tech entertainment conglomerate has seen hits such as “The Last Of Us” on HBO Max, “Cobra Kai” on Netflix and “For All Mankind” on Apple TV+.
Platform operators are coming under pressure to demonstrate profitability, leading to pressure on production budgets and a repositioning as content suppliers. Sony Pictures is in a strong position to provide content to any and all partners and platforms.
The company also owns anime streaming service Crunchyroll and is looking to capitalise on growing global enthusiasm for such content. Higher Crunchyroll sales along with more theatrical releases are forecast to drive an 11% growth in sales to 1.52 trillion yen ($11.26 billion) this year.
Upcoming movie releases include Ridely Scott’s “Napoleon” which will screen in theatres before streaming on Apple TV+. Sony Group Corp is well-positioned to take advantage of the streaming industry’s growth and profitability.