Sony has reported that its profits from April to June increased by 53%. The growth has been attributed to the coronavirus lockdown, which has resulted in a growing market for video games as people spent more time at home. Profits rose from $690 million in the first quarter of 2019 to $1.15 billion this year in the Games & Network Services division.

On Tuesday, Tokyo-based Sony said its revenue exceeded $2.2 billion in the last quarter as quarterly sales increased by 2%. Sony also has music and film divisions and manufactures digital cameras, televisions, and PlayStation 4 consoles, among other devices. The company noted that its film division would likely suffer for the next two to three years as a result of film delays and reduced cinema space due to the COVID-19 pandemic.

Executive Deputy President and CFO Horoki Totoki said that in terms of software, The Last of Us Part II was a massive hit, while non-first party titles, including free-to-play titles, significantly impacted growth. In addition, Ghost of Tsushima, which was released on July 17, sold 2.4 million units in the first three days, making it the fastest-selling, in-house, first-party IP for the PS4.

The number of PS Plus subscribers reached 45 million in June and no technical problems were reported despite increased levels of activity. In May, Sony revealed that the coronavirus pandemic had diminished the company’s consolidated income by approximately $585 million in the 2019-20 financial year that ended in March, though it did record gains in games and pictures usage by consumers.

Despite the pandemic, Sony continues with its expansion plans. In April, the company announced a $500 million investment in Bilibili, a Chinese video-sharing website focused on animation, comics, and games. In July, Sony also announced the purchase of a $250 million stake in Epic Games, the developer behind such games as Fortnite and the Unreal, Gears of War and Infinity Blade series. The investment, however, doesn’t commit Epic Games to any exclusivity to the Sony PlayStation platform.

Source: WGEM

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