“Our decision years ago to stay out of the crowded general
streaming space and instead become the become the industry's leading
independent content supplier was clearly the right choice,” Tony Vinciquerra,
CEO of Sony Pictures Entertainment, told an investor briefing.
Hits from the Japanese tech entertainment conglomerate on
streaming platforms include The Last Of Us on HBO Max, Cobra Kai on Netflix,
and For All Mankind on Apple TV+.
Conglomerates have spent billions on programming to feed
their streaming platforms but are under scrutiny from Wall Street as the focus
shifts from subscriber growth to profitability.
That is leading to pressure on production budgets with
streaming platform operators also looking at repositioning as content
suppliers.
“Sony Pictures remains in the strongest possible position as
evidenced by our ability to provide content to any and all partners and
platforms,” Vinciquerra said.
Sony owns anime streaming service Crunchyroll as it looks to
capitalise on growing global enthusiasm for such content following the success
of series such as Demon Slayer.
Higher Crunchyroll sales along with more theatrical releases
as consumers return to cinemas are forecast to drive an 11 percent growth in
sales to 1.52 trillion yen ($11.26 billion) this year with operating profit
roughly flat year-on-year.
Upcoming movie releases include Ridley Scott's Napoleon
which will screen in theatres before streaming on Apple TV+. © Reuters