Does Sony even have the funds to drop $69 billion on another games publishers? (Picture: Sony)

Analysts think that Sony is going to make an acquisition to counter Xbox, but it may not necessarily be one related to video games.

In 2022, when Microsoft announced its plans to purchase Activision Blizzard, people naturally looked to see how Sony would respond, especially since Microsoft would be acquiring so many important franchises.

Barely a month later, Sony bought out Destiny studio Bungie, although that deal had apparently been in the works long before Microsoft’s announcement. Plus, Sony didn’t spend nearly as much: $3.6 billion (just under £3 billion) compared to the $69 billion (nearly £57 billion) Microsoft paid for Activision Blizzard.

Sony tried to convince regulators not to approve Microsoft’s acquisition, but those efforts ultimately failed. As such, industry analysts expect Sony to match its rival with a large-scale buyout of its own… though not necessarily in the gaming space.

There have been rumours and speculation in the past of Sony acquiring someone like Square Enix (the company has been losing a lot of money lately, which could attract potential buyers) or even Take-Two Interactive, which would be a massive pull considering that’d include Rockstar Games and Grand Theft Auto.

However, back in March, Sony explained it had over $5 billion (about £4.1 billion) to spend on investments. On its own, that’s far too little for a Square Enix or Take-Two buyout.

So, what’s the alternative? Speaking with GamesIndustry.biz, Midia Research’s senior games analyst Karol Severin thinks, with its presences in the games, film, TV, and music industries, Sony could create something beyond Microsoft’s cross-platform plans.

‘Sony has one of the most impressive content catalogues on Earth. Bringing it together in a subscription offering, for example, could pose a solid competitive answer to Xbox’s cross-platform efforts,’ predicts Severin, adding that it’d easier than sticking with just video games.

‘It will be increasingly difficult to compete with Microsoft on games only. The only response for Sony on the games-only side would be buying something really big like Take-Two, but that is unlikely.’

Marvel’s Spider-Man 2 – single-player blockbusters are Sony’s bread and butter; it’s not going to stop making them now (Picture: Sony)

Kantan Games CEO Dr Serkan Toto believes Sony will remain dedicated to its current strategy of £70 blockbuster games, like the upcoming Spider-Man 2. After all, it’s a strategy that’s worked so far.

However, Toto does expects ‘further investments and acquisitions for PlayStation, including a large one that would move the needle for them in a meaningful way.’

Last year, financial experts theorised EA would be Sony’s next target as it’s roughly the same size as Activision Blizzard. But that is also going to require much more than $5 billion and considering EA was valued at roughly $38 billion (£31 billion) last year, it doesn’t take a maths whiz to know Sony would be taking a huge financial risk on such a buy out.

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Thankfully, no one entertains the idea of Sony buying Nintendo. It was already suggested Microsoft try that last week (Xbox boss Phil Spencer once called it the ‘prime asset’), but since Nintendo doesn’t want to be bought that will never happen, at least any time soon.

Don’t forget that Microsoft tried to buy Nintendo even before the launch of the original Xbox, which apparently got a good chuckle out of Nintendo’s executives.

Apparently Disney executives are eager to get their paws on EA (Picture: Wikipedia)

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Sony will likely make another acquisition to match Microsoft, but it may not necessarily be one related to video games.