Shares in Japan’s Sony Corp plunged 9% after gaming rival Microsoft announced it would buy popular games developer Activision Blizzard for an industry-record $68.7 billion.
While Sony’s PlayStation consoles are often seen as the preferred solution over Microsoft’s Xbox models in years of competition, the acquisition of the makers of the Call of Duty franchise and other popular games will allow Microsoft to significantly expand its Game Pass subscription service expand.
Over the past year, Sony has strengthened its network of game studios and released several exclusive hits, including representatives of the Spider-Man franchise, while Microsoft has had to catch up. As a result, the latter took the entire gaming community by surprise.
“Sony will face a colossal challenge in this war of attrition”, — said a representative of the company Asymmetric Advisors, which advised clients to short sell the company’s shares.
At the same time, PlayStation users are the main source of income for Activision, so Microsoft has to think more than once before deciding to remove the studio’s popular games from the Sony ecosystem.
Many experts believe cross-platform compatibility is critical to success in today’s emerging metaverses, where users can play, shop, and even work on the latest advances in the cloud, rather than on the gaming hardware that Sony and Microsoft made them the industry leaders.
“If Microsoft continues to offer games for the PlayStation platform alongside its own, it could be a testament to the company’s long-term positioning in the metaverse.”, — The Jefferies agency made an unexpected conclusion in a letter to clients. However, there is nothing to surprise. Outgoing Activision CEO Bobby Kotick has been blunt about the deal with Microsoft — a step towards creating the metaverse.