In today’s grow-or-sell market, big companies rule the industry and leave smaller ones in the dust. Disney’s recent acquisition of Fox’s assets proves this, and newly appointed chairman Tony Vinciquerra seems to think Sony Pictures Entertainment could be the next to be purchased if they don’t expand.
At the NATPE Conference, Vinciquerra commented on how companies are forced to bulk up in the market because of the demand for global scale. He thinks the number of major companies could shrink from six to three of four in a couple years. If huge companies like Disney keep buying out their competitors, this could easily become true. Vinciquerra thinks Sony could be next if they don’t grow.
“If we don’t grow, we will be somebody’s purchase. I didn’t take the job to do it for a year and sell the company.”
Marvel fans immediately recognize Sony as the studio that owns the rights to Spider-Man and all his villains. While Spider-Man is currently apart of the Marvel Cinematic Universe, Sony still plans on making their own cinematic universe with his villains. Venom releases this year with Silver and Black coming out next. If Sony really were to go under, that would allow Disney to buy back the rights to those characters.
Vinciquerra stated that when he began as chairman in June, there was pressure to create a sense of urgency. He wanted people to be aware that the business is changing rapidly.
“If we’re not on our toes, we’re not going to be in business very long.”
Sony doesn’t only make movies, though. They are also a tech company, but Vinciquerra pointed out that there is a vast difference in market cap between Facebook, Amazon, Apple, Netflix, and Google.
“We’re a tiny little minnow fighting against all these gigantic companies. If they want to step on us, they could do it.”
While it seems like Sony is soon to go under based on Vinciquerra’s comments, they will probably still flourish for the time being. The new chairman is likely painting Sony in a bad light in order to emphasize that they’re on the upswing. I’m sure he has new plans for the company that will allow them to be a large competitor in the industry once again.
Sony has still had some recent successes, though. Spider-Man: Homecoming was the highest grossing superhero movie of last year (Sony still makes the profits despite it being an MCU movie), and Jumanji: Welcome To The Jungle has already garnered a sizable amount of money for the studio. This year’s Venom could be another box office success. If Sony continues to have box office successes, they may still maintain themselves, for now.
Are you excited to see Sony’s Marvel Universe or would you rather those characters go back to Marvel? Let us know on Twitter @SuperBroMovies.
Source – Variety