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| Sony bets on multiplayer games in its battle with Microsoft |
Sony said it plans to release 10 new online multiplayer games by 2026, surprising analysts as the Japanese entertainment group ramps up its competition with Microsoft.
The expansion of the so-called direct-service game comes as efforts to maintain a historic lead over US competitors in the latest round of platform battles continue to be affected by the pandemic and disruptions in the blockchain semiconductor supply.
Sony cut its PlayStation 5 sales forecast for the fiscal year ending in March to 11.5 million units from a previous forecast of 14.8 million units.
The platform was launched in November 2020, and is still in demand. However, despite the limited selection of popular games, they are difficult to find in many markets.
During its third-quarter financial results conference, Sony announced plans to push its live games even more aggressively, including titles like Fortnite and Apex Legends.
A few days ago, the company announced that it had agreed to pay $3.6 billion to US game studio Bungie. The studio makes Destiny 2 one of the most popular live service games in the world.
Sony's gaming acquisitions to date have primarily focused on building a portfolio of games focused on single player experiences.
Among the fruits of those investments are games like Uncharted, which the company is set to release as a movie later this year.
Investors initially wondered if the company was paying too much for Bungie. However, analysts say the deal makes sense given the company's ambitious field service program.
Sony plans to release more than 10 games through the streaming service by 2026
Sony shares fell sharply in January after the disclosure of Microsoft's deal with Activision Blizzard. Markets believe that this move could force the Japanese company to sign a huge and costly deal.
The company cited a three-year plan announced last year to spend $17.5 billion on strategic investments.
He said the company did not see a need to change the tire. He also clarified that the company did not want to encourage large-scale mergers.
The company announced its game plan and a string of quarterly results that beat analyst expectations.
Operating income for the three months ended December was $4.05 billion. This corresponds to an increase of 32% over the same period in the previous year.
Additionally, the company raised its operating profit guidance for the year ending in March to $10.5 billion. This was more than the $9.1 billion guidance issued in October.