Sony held its strategic meeting for the fiscal year ending March 31, 2022, amid questions about whether the Japanese company could innovate as it once did. Focusing on creativity, technology, the world, and society, Chairman, President, and CEO Kenichiro Yoshida outlined the company's long-term strategy as a creative entertainment company aiming to fill the world with emotion through the power of creativity and technology. Sony presented its plans to investors, highlighting recent streaming deals with Disney and Netflix, as well as the PS5 shortage. The company aims to increase the community directly connected to Sony through devices or entertainment from 160 million to one billion.
There were not many surprises when it came to the demanded gaming platform, as Sony sells every PS5 it can manufacture, and despite the semiconductor shortage, it expects to surpass the sales of 14.8 million PS4 units sold in the year following the console's launch. Sony is known for its significant ambitions regarding subscriptions and cloud gaming, and referencing its deal with development studio Haven, the company noted its focus on increasing engagement through PlayStation Network, which is the largest direct-to-consumer platform.
Sony looks to enhance participation through PlayStation Network by boosting the cloud gaming service PlayStation Now. It intends to continue investing in external studios or partnering with them while also investing in its internal studios to improve its software offerings. The CEO hinted at ways to respond to Xbox Game Pass, suggesting that we could see more developments in the future, as PlayStation Now has recently upgraded its streaming resolution from 720p to 1080p. Sony clarified that it is spending 20 billion yen (approximately 184 million dollars) to enhance development, staffing, and other costs at its internal studios. The company stated that it is developing artificial intelligence technologies that could make gaming experiences richer and more enjoyable.
