Sony builds on the success of The Last of Us - The Average Joe

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    Sony builds on the success of The Last of Us

    victorlei

    January 26, 2023

    Second biggest HBO launch in over a decade. Over 18M views on its first ep. Nightmares for days (that terrifying clicking sound).

    The success of The Last of Us is shining a light on Sony (NYSE:SONY) — who co-produced the series. Now they’re looking to translate that success into other films…

    There’s lots of money in gaming. It’s a market that was worth $192.7B in 2021 — double that of filmed entertainment ($99.7B). Time to merge the two.

    Many of today’s best-selling games have strong storytelling, and Hollywood is increasingly looking at video games for source material.

    The two work well together. Game adaptations bring an existing audience — and films often raise game revenue. Win-win.

    • Game sales for The Last of Us jumped 238% after the TV show’s debut.
    • League of Legends players jumped 30% after the debut of Arcane.

    Game publishers have taken action in recent years:

    • Sony set up PlayStation Productions in 2019 to bring its franchises to the big screen.
    • Activision Blizzard launched a film and TV studio in 2015.
    • Nintendo’s Mario movie is coming — and it has plans to release more based on its IP.

    The Average Joe: In the past five years, $SONY’s return has doubled the S&P 500 — despite falling over 20% from its 2021 peak. The company has been hit by declining electronic and gaming sales after a COVID surge.

    With 35% of its sales from gaming and pictures, Sony is making a smart strategic move. But don’t show up to the stock market lookin’ for a free lunch. This is not an Arby’s.

    Follow us long enough, and you’ll know there are two things we love. A bull market and Nick Offerman Ron Swanson.

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