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Tag: Sony Group Corporation

  • Evo changes hands as Sony exits and Nodwin takes control

    Evo changes hands as Sony exits and Nodwin takes control

    MUMBAI: The Evolution Championship Series (Evo), the world’s largest and longest-running fighting game festival, has entered new ownership and struck fresh partnerships that will steer its future through 2028 and beyond.

    Sony Interactive Entertainment (SIE) has sold its stake in Evo to Nodwin Gaming, backed by Sony Group Corporation, while signing on as a global sponsor until 2028. SIE will continue to support the fighting game community via PlayStation Tournaments and new products in development.

    “When SIE acquired Evo alongside RTS in 2021, our goal was to spotlight fighting game fans on a global stage,” said SIE svp and head of global partner development & relations Phil Rosenberg. “As we transition to sponsor, Evo’s momentum has never been stronger, with expansion into new regions.”

    Nodwin Gaming co-founder & managing director Akshat Rathee said: “Evo was built on authenticity and passion. We will honour that legacy while opening the door for a new generation.”

    Saudi Arabia’s Qiddiya, already a global partner, is investing in RTS, Evo’s co-owner and operator, and extending its deal through 2027. RTS chief executive Stuart Saw said the tie-up would “drive real transformation in the fighting game community through new opportunities, deeper connections and meaningful growth.”

    Evo’s global pull is surging. Its Las Vegas flagship drew players from more than 60 countries across 16 titles on a 14-acre floor, backed by brands including Chipotle, AT&T, PlayStation, Red Bull and Under Armour. Evo Japan at Tokyo Big Sight drew around 30,000, making it the largest in-person fighting game tournament in the country’s history.

    The festival will debut in Europe at the Palais des Expos in Nice, France, from October 10-12, with record registrations, and expand to Singapore in 2027.

    “Evo is accelerating from hosting renowned events to serving as a nexus point for fighting game culture worldwide,” said Evo general manager Rick Thiher.

  • Sony Group’s media networks biz in India grows in Q2 FY21

    Sony Group’s media networks biz in India grows in Q2 FY21

    Mumbai: Sony Group Corp has released its financial results for Q2 FY2021 that ended on 30 September. The media conglomerate reported that Sony Pictures Entertainment’s (SPE) Indian business, which includes video distribution service SonyLIV and its leading broadcasting business, accounted for slightly less than 40 per cent of the sales of media networks in Q2.

    Its pictures segment saw a 40 per cent increase year-on-year in sales, primarily attributed to increase in sales of television productions and media networks. The sales for the pictures segment stood at $612 million. The company also reported higher advertising revenues in India YoY.

    Last month, the company signed a non-binding term sheet to merge a subsidiary of Sony Pictures Entertainment (SPE) and Zee Entertainment Enterprises Ltd (Zeel), a media company in India. Under the proposed merger, SPE would hold a majority stake in the resulting merged entity.

    Under the term sheet, the two parties are conducting mutual due diligence and Zeel has agreed to negotiate exclusively with SPE for a period of 90 days with the goal of reaching definitive agreements.

    “India has an economic base that is rapidly growing, primarily among the younger generation, and it is the largest linear TV market in the world that is still growing. In addition, the opportunity for digital distribution services is beginning to grow rapidly due to improvements in India’s communication infrastructure,” it said in a statement.

    “As a growth area in the pictures segment, we plan to continue to proactively seek opportunities to expand this business by using the profitability of the TV broadcasting business and our content assets to strengthen our digital distribution service,” it added.