Sony sees real opportunities in virtual worlds

New computing technologies such as the metaverse and Web3 have the power to expand entertainment, said Sony group chairman and president Kenichiro Yoshida.

Speaking at Nikkei’s two-day Global Management Forum on Tuesday, the head of the Japanese entertainment giant said the metaverse – a virtual world where users interact via digital avatars – offers a new space for users and creators to come together.

“In the metaverse, users and creators can share time and space, and entertainment is about live events,” Yoshida said.

Yoshida cited concerts and sports events as examples where metaverse technology can offer added value. In sports, Sony is conducting a trial with a UK football team in which real-world matches will be replicated in a virtual space.

Yoshida also said the company is “actively investing in entertainment, including music, movies and games”, which today accounts for around half of Sony’s total sales, compared to around a quarter in 2010.

The CEO said he takes a long-term view of management, pointing out that some of Sony’s most successful businesses today, such as CMOS sensors, took time to become profitable. The company has also had to give up on other businesses, such as the personal computer business, he added.

“We value the independence and creativity of each division,” Yoshida said. “It is important for each business to be independent in a fast-changing environment.”