Sony Music’s parent company is investing $250m in Epic Games, the company behind Fortnite.
Sony Corporation announced the deal yesterday, and said it “allows Sony and Epic to aim to broaden their collaboration across Sony’s leading portfolio of entertainment assets and technology, and Epic’s social entertainment platform and digital ecosystem”.
That could spell more opportunities for Sony Music artists, following Travis Scott’s recent Fortnite event. Bear in mind, though, that the partnership will surely be centred on the PlayStation side of Sony’s business.
Games industry analyst Daniel Ahmad offered an interesting take on the deal in a tweet yesterday. “Just to put this into perspective. When Tencent invested $330m in Epic Games back in 2012, that got them a 40% stake with Epic valued at ~$825m,” he wrote.
“Sony’s $250m investment today gives them a ~1.5% stake with Epic valued at ~$17bn.”