Sony Committed 13.3 Billion Yen to Marketing Deals and Advertising Partnerships in FY 2016
Sony recently released its consolidated financial statements for the fiscal year of 2016, which reveals, among other things, the amount of money Sony committed to its marketing deals and advertising partnerships for the fiscal year.
According to the report, the company has committed to make payments of 13.3 billion Yen (or almost $120 million dollars) for long-term sponsorship contracts that relate to advertising and promotional rights. These contracts could mean deals such as the company’s previous agreement with Activision for Destiny and Call of Duty.
It must be noted though that the amount Sony has committed to spend covers all of its divisions, and not just its Game & Network Services segment where the PlayStation brand is under. So, only a part of the amount actually went into its new long-term sponsorship contracts related to video games. One of the corporation’s biggest partnerships is its deal with UEFA Champions League.
The amount though is quite smaller than what the company has spent in the past few years. Back in 2013 and 2012, the company spent around 52.4 billion and 53.8 billion Yen, respectively; more than double of what the new report states.
The smaller amount could be due to the company being a market leader in several of its segments, including the PlayStation brand where the PS4 is currently the top selling video game console worldwide with over 50 million units sold since it launched back in 2013, which gives it the leverage to propose cheaper deals.