Sony Bets Big on Epic Games with $200 Million Investment

Sony Bets Big on Epic Games with $200 Million Investment

Fortnite creator Epic Games announced today that it has secured $1 Billion in funding, a cool $200 million of which came from its longstanding partner Sony Corporation.

Epic has used Sony’s PS5 console to reveal its next-gen Unreal Engine 5 and has also worked closely with the company to develop the PS5’s storage architecture.

According to the company’s official statement on their website, Sony’s investment

“builds on the already close relationship between the two companies and reinforces their shared mission to advance the state of the art in technology, entertainment, and socially-connected online services.”

Sony Official Statement
Sony Bets Big On Epic Games With $200 Million Investment
Sony Group Corporation | Source: Sony

However, Sony was only one of the long list of companies that was a part of this round of funding which included the Ontario Teachers’ Pension Plan, Canada’s largest single-profession pension plan.

“We are grateful to our new and existing investors who support our vision for Epic and the Metaverse,”

Epic CEO Tim Sweeney

“Their investment will help accelerate our work around building connected social experiences in Fortnite, Rocket League and Fall Guys, while empowering game developers and creators with Unreal Engine, Epic Online Services and the Epic Games Store.”

Epic CEO Tim Sweeney

Considering Epic Games’ current financial status, the influx of cash couldn’t have come at a better time for the company. In documents revealed in their court tussle with Apple, the Epic Games Store has reportedly lost the company more than $450 million. On top of this, the company has guaranteed developers and publishers over $400 million along with giving away $749 million worth of free games to its registered users.

This development was confirmed by Sweeney on Twitter who maintained his position that the company’s strategy so far has been a “fantastic success.”

While it may seem that Sony is in agreement with where Epic is headed, all eyes are on the latter’s feud with Apple because who knows what other bullets the tech giant is holding in its chamber.

About Sony

Sony Corporation is a Japanese multinational conglomerate corporation headquartered in Kōnan, Minato, Tokyo. The company operates as one of the most comprehensive media companies on the planet and also holds the distinctions of being the largest video game console company and the second largest video game publisher in the world.

Its gaming and network services arm Sony Interactive Entertainment (formerly Sony Computer Entertainment) is best known for producing the popular line of PlayStation consoles.