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Sony Is Metaverse-Ready, CEO Kenichiro Yoshida Acknowledges

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  • Sony Group Corp (NYSE: SONY) considered itself well-positioned to play a leading role in the metaverse that could massively disrupt industries and establish new powerhouses, Reuters reports.

  • "The metaverse is at the same time a social space and live network space where games, music, movies, and anime intersect," CEO Kenichiro Yoshida.

  • He pointed to the use of the free-to-play battle royale title Fortnite from Epic Games as an online social space.

  • "We are aiming to turn the mobility space into a new entertainment space... We believe mobility will be the next megatrend," he said.

  • Sony has also taken steps to expand beyond its focus on single-player titles like "Spider-Man: Miles Morales" with a deal to buy Bungie, the developer of online multiplayer shooter "Destiny."

  • Sony also forged an electric vehicle-making collaboration with Honda Motor Company, Ltd (NYSE: HMC).

  • "PlayStation has played a huge role in the social gaming revolution that's nurturing the growth of the metaverse as a new entertainment medium," Epic's CEO Tim Sweeney said.

  • Sony's game, music, and movie units contributed two-thirds of operating income in the year ended March.

  • Price Action: SONY shares closed higher by 1.54% at $87.69 on Tuesday.

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