Sony now has a 1.4 percent stake in Epic Games after spending a whopping $250 million in the company. The two companies announced the deal that pushed Epic Games evaluation to $17.86 billion. According to the announcement, the investment allows the two companies to “broaden their collaboration across Sony’s leading portfolio of entertainment assets and technology.”
The press release further details a possibility that Sony and Epic Games may want to create more Fortnite-like virtual multimedia experiences similar to the Travis Scott concert tour. “We share a vision of real-time 3D social experiences leading to a convergence of gaming, film, and music.” However, the deal does not mean Epic titles will now be PS4 and PS5 exclusives. The studio will still be able to publish on other platforms.
This partnership means Sony and Epic Games can work together on new projects. If this is a PS5 game then so be it. If it is related to Sony Music’s footprint in Fortnite through concerts and other nonsense then that is cool too. Either way, Sony now has a say when it comes to certain projects at Epic Games which is great.
We know that Sony and Epic Games have had a long-running relationship. They two companies have worked together on the PlayStation 5 console where Epic praised the hardware during a tech demo. Epic CEO and founder Tim Sweeny had been working closely with Sony on the development of the console. In addition, the company had a lot of input when it came to the PS5 SSD. Epic was also a big part of Sony’s approach to cross-play for Fortnite. Before September 2018, the only console left out of the cross-play scenario was the PS4. However, Epic pushed Sony to enable the feature bridging players from different platforms together for the first time.