Sony execs admit IP deficiency, plan to invest $10B in new IPs for gaming, film, and anime.

Sony executives, including CFO Hiroki Totoki and CEO Kenichiro Yoshida, have acknowledged a significant deficiency in original intellectual properties (IPs) across its gaming, film, and anime sectors. This comes after the early removal of the game Concord due to low engagement. Sony aims to invest $10 billion to foster new IPs and enhance its entertainment portfolio, seeking to compete more effectively in the $3 trillion entertainment industry.