Sony Investing $300M in In-House Gaming Development

Sony has announced that it’s leaning further into the gaming space — this time, within its own studios.

During its first-quarter earnings call, the company said it will put about $300 million toward beefing up its existing software development and expanding its gaming business for the PlayStation 4 and PlayStation 5. 

The strategy will complement Sony’s recent pattern of acquiring and assisting developers. 

• Between January and the middle of December 2021, Sony had acquired five studios
• Since the beginning of 2022, Sony has purchased Haven Studios and Bungie.
• And in April, Sony invested $1 billion in Epic Games.

There are likely more acquisitions on the horizon: The company reportedly posted a job for a director of corporate development in the first week of May.

2021 Earnings

Sony reported $6.8 billion in profit for the fiscal year ending in 2021. The number was a drop of 14%. Sony also did not meet expectations for sales of the PS5, which sold 11.5 million — expectations were set at 14.8. million.

Its fourth-quarter earnings, however, were more positive. The company posted $852.7 billion in net income attributable to the company, up 67%.