Sony Agrees to Acquire Spider-Man Video-Game Developer Insomniac
Tech giants Apple Inc., Facebook Inc. and Google also have stated their intention of getting deeper into the business.
(Bloomberg) -- Sony Corp. agreed to buy Insomniac Games Inc., the studio behind last year’s hit Marvel’s Spider-Man, as part of a push to stay competitive by acquiring independent game studios.
The studio, based in Burbank, California, and Durham, North Carolina, was founded 25 years ago by current Chief Executive Officer Ted Price. It has a long history of making games for Sony, including Ratchet & Clank, a sci-fi shooting game, and the Spider-Man title, which has sold over 13.2 million copies. Financial terms weren’t disclosed.
Sony’s PlayStation remains the top-selling gaming console worldwide. But like the rest of the industry, it’s grappling with the global success of Fortnite -- a shooting title from Epic Games Inc. -- and a broader shift toward free-to-play titles.
Tech giants Apple Inc., Facebook Inc. and Google also have stated their intention of getting deeper into the business. And traditional game developers, such as Electronic Arts Inc., are introducing subscription services, making even their top titles available to customers who pay them monthly subscription fees.
Sony now operates 14 video-game studios around the world. Sony has long made games from its studios exclusive to PlayStation, just as Microsoft Corp. and Nintendo Co. do with their platforms.
Broader Distribution
In an interview, Shawn Layden, chairman of Sony’s game studios worldwide, said exclusive titles will still be a part of the company’s strategy, but that some games -- particularly multiplayer titles designed to be played on personal computers -- may see broader distribution.
“We must support the PlayStation platform -- that is nonnegotiable,” Layden said. “That said, you will see in the future some titles coming out of my collection of studios which may need to lean into a wider installed base.”
Sony is expected to announce a fifth generation of its popular PlayStation console in the near future. The current version launched in 2013.
To contact the reporter on this story: Christopher Palmeri in Los Angeles at cpalmeri1@bloomberg.net
To contact the editor responsible for this story: Nick Turner at nturner7@bloomberg.net
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