Sony announced a 250 million dollars stake in Epic Games creator of Fortnite and Gears of War.
Sony has announced a $250 million stake in Epic Games. The Japanese joint venture will earn 1.4% interest in the video game studio.
The creator of games like Fortnite and Gears of War, the Epic Games are now worth $17.86 billion. This partnership will allow both companies to collaborate more closely on upcoming projects.
History of mutual respect
Sony and Epic Games have been working together for many years, and mutual appreciation is clear. Epic founder and CEO Tim Sweeney have praised Sony’s new PlayStation 5. He referred to it as the “remarkably balanced device”.
This May, Epic released a new version of Unreal Engine 5 for use on the new PlayStation. Epic Games has been a trusted advisor to Sony as both companies work to improve the storage infrastructure on their next console.
Sony is pleased with its investment in Epic and their future partnership. Kenichiro Yoshida, Chairman and President of Sony Corporation, said:
“Epic’s powerful technology in areas like graphics is at the forefront of the game engine development with the Unreal Engine and other inventions. There is no better example than Fortnite’s revolutionary experience of entertainment. Through our investment, we will explore opportunities to further collaborate with the epic not only in sports, but also in the fast-growing digital entertainment landscape to bring joy and value to consumers and industry. “
Still, an exclusive deal that is only available on Epic Games’ Sony consoles is not possible. Currently, epic titles continue to be available on other gaming consoles, including the rival Xbox. But an exclusive deal is possible in the future.
Tips for the Multimedia Venture
The press release also points out that the two companies may explore additional, cross-media collaborations. Sweeney said, “Share a vision of real-time, 3D social experiences that lead to the integration of gaming, film and music.”
It can be said that projects like the Travis Scott concert that Fortnite recently hosted could turn out to be a common occurrence.
With the extensive resources provided by Sony Music, Epic Games can handle many more by combining gaming and other virtual arts.