Sony seeks to continue its control of the home game console market by investing more money in acquiring external development teams and bringing them under the PlayStation Studios brand, prompting the company to increase the acquisitions budget for the new year by 20%.
The announcement was made by the company’s president, Hiroki Totoki, during the latest earnings report, as he indicated an increase in the acquisition budget by 20% for the next fiscal year, compared to the budget for the previous fiscal year.
Sony President, Hiroki Totoki, said that acquisition related costs will be increasing by 20% YoY in this next fiscal year! 👀 pic.twitter.com/bsis6gKCgb
– Genki✨ (@Genki_JPN) April 28, 2023
Increasing the acquisition budget by 20% does not mean that more of the development team will be included in PlayStation Studios only, but that budget belongs to Sony in all its branches, such as music, smartphones, and more.