Sony Group Corp (6758.T), a Japanese conglomerate, said it is well-positioned to take a leading role in the metaverse, or immersive virtual worlds, which analysts predict would disrupt industries and create new powerhouses.
The phrase “metaverse” refers to the assumption that people will spend more time in online virtual worlds. While the concept is still emerging, it has become a catchphrase in industry briefings and a driving force behind business deals.
“The metaverse is a social area and a live network environment where games, music, movies, and anime meet,” said Chief Executive Kenichiro Yoshida at a strategy briefing on Wednesday, pointing to Epic Games’ free-to-play battle royale game Fortnite as an example.
Under Yoshida and his predecessor Kazuo Hirai, Sony’s game, music, and movie operations provided two-thirds of operational income in the fiscal year ended March, highlighting the company’s metamorphosis from a consumer electronics manufacturer to a metaverse-ready entertainment behemoth.