Key facts
- Sony Group is intensifying efforts to develop original characters and build intellectual property franchises.
- The company aims to create an ecosystem similar to that of Hello Kitty creator Sanrio.
- Sony seeks to generate $63 million in annual sales from these new IPs by 2030.
- The initiative involves developing character IPs across various media.
- Sony's goal is to establish globally recognized and commercially successful character brands.
Sony Group is undertaking a major initiative to develop original characters and build intellectual property (IP) franchises across multiple media platforms. The company's strategic objective is to cultivate an ecosystem comparable to that of Sanrio, the creator of the globally recognized character Hello Kitty. Sony aims to achieve substantial commercial success with these new IPs, setting a specific financial target of generating $63 million in annual sales by 2030. This push represents a concerted effort by Sony to diversify its revenue streams and establish enduring character brands that can resonate with audiences worldwide. The development of these IPs is expected to span various media, suggesting a comprehensive approach to franchise building. By focusing on original character creation and IP development, Sony seeks to create long-term value and competitive advantage in the entertainment and consumer goods markets. The ambition to rival Sanrio's success underscores the potential Sony sees in character-based intellectual property. This strategy aligns with broader industry trends where strong IP forms the foundation for successful media franchises and merchandise.