Sony announced it has bought a $250 million stake in Epic Games. The Japanese conglomerate will receive 1.4% interest in the video game studio. The creator of games like Fortnite and Gears of War, Epic Games is now worth $17.86 billion. The partnership will allow the two companies to collaborate more closely on upcoming projects.
A History of Mutual Respect
Sony and Epic Games have worked together for years, and there is clearly a mutual appreciation. Tim Sweeney, the founder and CEO of Epic, has praised Sony’s new PlayStation 5. He referred to it as a “remarkably balanced device.” Just this May, the Epic unveiled a new version of Unreal Engine 5 for use on the new PlayStation. And as both companies work to improve storage architecture on their next console, Epic Games has been a reliable consultant to Sony.
Sony is clearly happy with its investment in Epic and their future partnership. President and Chairman of Sony Corporation, Kenichiro Yoshida, said:
“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.”
Still, an exclusive deal, where Epic Games’ are only available on Sony consoles, is unlikely. For the time being, Epic titles will continue to be available on other gaming consoles, including competitor Xbox. But an exclusive deal remains a future possibility.
Hints of Multimedia Venture
The press release also hinted that the two companies might explore additional, cross-media collaborations. Sweeney said they, “share a vision of real-time, 3D social experiences leading to a convergence of gaming, film, and music.”
That is to say that projects like the recent Travis Scott concert hosted by Fortnite could become common events. With the extensive resources provided by Sony Music, Epic Games will be able to dabble more with combining gaming and other forms of virtual art.