Sony invests $300M in in-house gaming development

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Sony has announced that it’s leaning further into the gaming space — this time, within its own studios.

During its first-quarter earnings call, the company said it will put about $300 million toward beefing up its existing software development and expanding its gaming business for the PlayStation 4 and PlayStation 5.

The strategy will complement Sony’s recent pattern of acquiring and assisting developers.

Between January and the middle of December 2021, Sony had acquired five studios
Since the beginning of 2022, Sony has purchased Haven Studios and Bungie.
And in April, Sony invested $1 billion in Epic Games.

Sony reported $6.8 billion in profit for the fiscal year ending in 2021. The number was a drop of 14%.

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