Sony Pictures boss expects more video game buyouts and acquisitions in the near future.
Speaking at the Bank Of America Merrill Lynch Media, Communications & Entertainment Conference earlier this month (and transcribed by VGC), Sony Pictures CEO and chairman Tony Vinciquerra was quizzed about consolidation in the movie industry. "I do think you’ll see some consolidation on that side. You’ll probably see a little more on our side as well," Vinciquurra started, before adding "but I think the next area of consolidation will be the games business."
In the face of the COVID-19 pandemic over the last 18 months, video game-related revenue has been booming. For example, in April 2020 during the height of lockdown throughout the U.S. and Europe, consumer spending on video game hardware alone increased by 163 percent compared to the same month in 2019, compared to a 73 percent increase for game software.
It's perhaps not surprising, then, that the video games industry has turned to acquisitions and consolidations with all this extra revenue. Although the Sony Pictures boss expects more buyouts and acquisitions in the future, we'll be left guessing which developers and publishers could potentially be acquired, and by who.
