$2 billion in Epic Games
Sony Group Corp. and Kirkbi, the owners of the Lego Group, invested $2 billion in Epic Games, the makers of hit battle royale title Fortnite. The two companies have invested $1bn each into Epic, enhancing their digital presence and valuing the game publisher at $31.5bn following the deal that saw the two giants invest in it. Epic is now valued at $31.5 billion, up from $28.7 billion in 2021, and this level of growth is impressive given the turbulent year Epic has had. Despite their highly publicized lawsuit with Apple, they have achieved success even though the matter has not yet been resolved, making it impossible to install the game or update it from Apple devices.
Epic than Epic would like
Epic is suing Apple because Apple takes a larger cut of transactions between their customers and Epic than Epic would like, and this could have major implications for Apple if they are forced to change their store policies. In spite of being shut out of such a large market, Epic has been able to maintain and even grow because of the global popularity of its game, as well as its ability to remain relevant through celebrity tie-ins and other events.
Apex Legends and Call of Duty
Fortnite has also been challenged from within the gaming industry, with titles like Apex Legends and Call of Duty Warzone making headlines, leading the game to make changes to its gameplay for the start of the new season. Players can now bypass Fortnite's signature building in favor of a simpler experience, which has drawn back a number of content creators.
With many large publishers and even giants like Facebook looking to move toward a 'metaverse-level' gaming experience, it is another example of tech giants attempting to move in that direction. According to Epic's website, "all three companies attach a high value to both creators and players, and seek to explore the relationship between the digital and physical worlds."
Sony Group CEO Kenichiro Yoshida
Sony Group CEO Kenichiro Yoshida says that Sony is thrilled to invest in Epic Games "to deepen our relationship in the metaverse, a space where creators and users share their experiences.".Epic's expertise, along with their powerful game engine, combined with Sony's technologies, will also accelerate our various efforts, including developing new digital fan experiences and virtual productions.”
CEO of KIRKBI
Søren Thorup Sørensen, CEO of KIRKBI, said the move would further enable Lego to connect with its young audience in a more interactive way. We are pleased to support Epic Games in their continued growth journey and long-term vision of the future metaverse with this investment." - "This investment will accelerate our engagement in the world of digital play."Tim Sweeny, CEO of Epic said, "This investment will accelerate our efforts to build the metaverse into a place where players can enjoy themselves with friends, brands can create creative and immersive experiences, and creators can thrive."