Sony sees streaming service Crunchyroll driving growth as anime goes global
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 30 2024
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Source: Yahoo Finance
- Sony's Focus on Anime Streaming: Sony views its anime streaming service, Crunchyroll, as a key growth driver within Sony Pictures Entertainment (SPE) over the next few years.
- Anime Market Growth: The anime market is projected to double to $60 billion by 2030, with popular franchises attracting attention from global entertainment companies due to increased accessibility through internet streaming.
- Expansion Plans: Crunchyroll aims to expand in Southeast Asia and India by leveraging Amazon Channels for wider access to its streaming services.
- Sony's Content Strategy: Sony emphasizes its strength as an independent content provider amidst industry technological changes, focusing on acquiring more intellectual property (IP) and expanding its library.
- Acquisition Interests: Sony expressed interest in acquiring assets from U.S. media company Paramount Global to enhance its franchise portfolio, following the cancellation of a planned merger with India's Zee Entertainment.
Analyst Views on SONY
Wall Street analysts forecast SONY stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SONY is 34.00 USD with a low forecast of 34.00 USD and a high forecast of 34.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 22.960
Low
34.00
Averages
34.00
High
34.00
Current: 22.960
Low
34.00
Averages
34.00
High
34.00
About SONY
Sony Group Corp is a Japan-based company engaged in the games & network services (G&NS), music, movies, entertainment technology & services (ET&S), imaging & sensing solutions (I&SS) and other businesses. It has seven business segments. G&NS segment is involved in network service business, the manufacture and sale of home video game consoles and software. The Music segment mainly includes music production, music publishing and video media platform businesses. The Movies segment mainly includes film production, television program production and media network businesses. The ET&S field mainly includes the television business, audio, video business, still image, video camera business, smartphone business and Internet-related service business. The I&SS segment mainly includes the image sensor business. The Financial segment is involved in the insurance business and banking business. The Other segment consists of activities such as disc manufacturing business and recording media business.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
