Giant consumer electronics company Sony from Japan has decided to strategically invest in the growing African video game industry. Sony has invested an undisclosed amount in Carry1st, a video game studio based in Cape Town, South Africa. This strategic investment aims to open up new possibilities for collaboration between the two companies.
Carry1st and Sony are currently in the exploratory phase of their partnership, which is likely to involve collaboration on selected games and strengthening the PlayStation brand in Africa. Cordel Robbin-Coker, CEO and co-founder of Carry1st, believes that Africa represents the next major market with growth potential in the video game industry. Sony, with its strong presence in first and second-tier markets, is convinced that Africa is a promising target market for their products.
The demand for consoles in Africa is growing, with many people buying them on the “gray market” from foreign importers. However, Sony wants to enter this market by offering more accessible solutions, including digital payments and sales tools.
Sony’s investment in Carry1st is part of its expansion plan in Africa. The company expects to sell a record-breaking 25 million PlayStation 5 units in the fiscal year 2023, which would be the biggest success in the history of the PlayStation console. Sony hopes that Africa will become another significant sales market for the PS5.
Carry1st, founded in 2018, specializes in creating mobile games for the African audience. The company is currently working on three of its own video game titles set to be released in the coming years. Carry1st also collaborates with companies such as Activision, Supercell, and Riot Games, bringing Western games like “Call of Duty: Mobile” and “Valorant” to the African market.
Sony’s investment in Carry1st is part of a broader investment plan in the African entertainment industry. Sony Innovation Fund: Africa, a venture capital fund, was launched in October 2023 with an initial budget of $10 million for investments in African startups.
Carry1st is supported by investors such as Andreessen Horowitz, Bitkraft Ventures, Google, Riot Games, and rapper Nas, who have collectively invested $60 million in the company. With Sony’s investment, Carry1st gains new opportunities for growth and expansion in the African market.
FAQ:
1. What is Sony’s strategic investment in the African video game industry?
Sony has invested an undisclosed amount in Carry1st, a video game studio based in Cape Town, South Africa. This strategic investment aims to open up new possibilities for collaboration between the two companies.
2. What does the collaboration between Carry1st and Sony involve?
Carry1st and Sony are currently collaborating on selected games and aiming to strengthen the PlayStation brand in Africa. Africa is considered a promising target market for Sony’s products.
3. Why does Sony want to enter the African video game market?
The demand for consoles in Africa is growing, but many people buy them on the “gray market.” Sony wants to offer more accessible solutions, including digital payments and sales tools.
4. What are Sony’s expansion plans in Africa?
Sony expects to sell a record-breaking 25 million PlayStation 5 units in the fiscal year 2023, and they are counting on the growth of the PS5 sales market in Africa.
5. Who is Carry1st and what do they do?
Carry1st is a mobile game studio founded in 2018 that specializes in creating games for the African audience. The company is currently developing its own video game titles and bringing Western games to the African market.
6. What other investments has Sony made in the African entertainment industry?
The investment in Carry1st is part of a broader investment plan in the African entertainment industry. Sony Innovation Fund: Africa, a venture capital fund, aims to invest in African startups.
7. Who else has invested in Carry1st?
Carry1st has received investments from other companies such as Andreessen Horowitz, Bitkraft Ventures, Google, Riot Games, and rapper Nas, totaling $60 million.
8. What are the new development opportunities for Carry1st with Sony’s investment?
With the investment from Sony, Carry1st gains new opportunities for growth and expansion in the African market.
Definitions:
– Carry1st: A video game studio based in Cape Town, specializing in creating mobile games for the African audience.
– PlayStation 5 (PS5): Sony’s latest gaming console. It is the successor to the PlayStation 4.
– Africa: A continent consisting of various countries and regions. The African video game market has growth potential and is developing.
– Digital payments: Payments made digitally using the internet and other digital technologies.
– Sales tools: Software, applications, or strategies that assist in the sale of products or services.
– Startups: New, dynamic business ventures with growth and innovation potential.
– Venture capital fund: An investment fund that invests in the early stages of business development, such as startups.
The source of the article is from the blog reporterosdelsur.com.mx