Sony acquires $250m stake in Epic Games, maker of Fortnite

 Sony acquires $250m stake in Epic Games, maker of Fortnite

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Sony Corporation, guardian of Sony Music Group, has acquired a minority stake in Epic Games – the creator of Fortnite and Unreal Engine.

Sony has agreed to make a strategic funding of $250 million in Epic through a wholly-owned subsidiary of Sony.

According to Sony: “The investment cements an already close relationship between the two companies and reinforces the shared mission to advance the state of the art in technology, entertainment, and socially-connected online services.”

Earlier this 12 months, Travis Scott, signed to Sony-owned Epic Records, reached almost 28 million followers through a digital live performance efficiency in Fortnite.

By buying a stake in Epic, Sony joins Tencent, which owns 40% of the  North Carolina-based interactive leisure firm via a $330m investment made in 2012.

“Through our investment, we will explore opportunities for further collaboration with Epic to delight and bring value to consumers and the industry at large, not only in games, but also across the rapidly evolving digital entertainment landscape.”

Kenichiro Yoshida, Sony Corp

Recent valuations of Epic put the corporate’s present price at approximately $17bn, suggesting that Sony might have acquired someplace in the area of 1.5% of the agency.

Sony added in press launch in the present day (July 9): “The investment allows Sony and Epic to aim to broaden their collaboration across Sony’s leading portfolio of entertainment assets and technology, and Epic’s social entertainment platform and digital ecosystem to create unique experiences for consumers and creators.”

The closing of the funding is topic to customary closing circumstances, together with regulatory approvals.

Kenichiro Yoshida, Chairman, President and CEO, Sony Corporation, mentioned: “Epic’s powerful technology in areas such as graphics places them at the forefront of game engine development with Unreal Engine and other innovations. There’s no better example of this than the revolutionary entertainment experience, Fortnite.

“Through our investment, we will explore opportunities for further collaboration with Epic to delight and bring value to consumers and the industry at large, not only in games, but also across the rapidly evolving digital entertainment landscape.”

“We share a vision of real-time 3D social experiences leading to a convergence of gaming, film, and music.”

Tim Sweeney, Epic Games

What may Yoshida be referring to?

It’s price remembering that, in May, MBW revealed that Sony Music was hiring for an in-house staff to “dedicated to reimagining music through immersive media”, with a specialism in working with Epic’s Unreal Engine.

We subsequently found that Sony Music had employed revered interactive leisure veteran, Adam Orth. 

Discussing the brand new Sony funding, Tim Sweeney, Founder and CEO of Epic, mentioned in the present day: “Sony and Epic have both built businesses at the intersection of creativity and technology, and we share a vision of real-time 3D social experiences leading to a convergence of gaming, film, and music.

“Together we strive to build an even more open and accessible digital ecosystem for all consumers and content creators alike.”

Fortnite is the world’s largest online game with over 350 million consumer accounts.

Epic’s Unreal Engine powers a number of blockbuster video video games in addition to getting used in industries comparable to movie and tv, structure, automotive, and manufacturing for visualization and simulation.Music Business Worldwide



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