India is a creative country - Sony's CEO on Sony-Zee merger

During an annual meeting, Sony Corp CEO Kenichiro Yoshida made an official announcement regarding the highly anticipated merger between two prominent broadcasting conglomerates in India, Zee and Sony. According to Yoshida, the merger is expected to be completed in September of this year, specifically stating it would occur “by the end of this fiscal year.” Yoshida highlighted the vast population and abundant creative talent in India, positioning the media and entertainment sector for rapid growth.

Yoshida referred to India as a “creative country” and expressed the immense potential for expansion, particularly in the entertainment sector. Sony has already established itself as a leading film producer in India since 2005. He also emphasized the significance of India’s youthful population, with 50% being under the age of 30, indicating ample opportunities for growth in genres such as anime and gaming.

Hiroki Totoki, President, Chief Operating Officer, and Chief Financial Officer of Sony, further emphasized that while electronics were initially the company’s primary focus when venturing into India 25 years ago, the entertainment industry now offers greater potential in the country.

N P Singh, Managing Director and CEO of Sony Pictures Networks India (SPNI), spoke at the gathering and highlighted the expansion of Sony group’s operations in India and the growth prospects associated with it. Singh mentioned the previously announced deal to merge Zee and SPNI, which, once finalized, will enable increased production of captivating content and strengthen ties with various communities in India. However, regulatory permissions need to be obtained before the acquisition can be completed.

Additionally, to provide Indian artists and producers with opportunities for collaboration and international exposure, Sony is partnering with Sony Music India. Together, they established Sony Entertainment Talent Ventures India in 2022.

In a formal and professional manner, Sony Corp CEO Kenichiro Yoshida unveiled the highly anticipated merger between two prominent broadcasting conglomerates in India, Zee and Sony, during an annual meeting. Yoshida projected that the merger would be concluded in September, aligning with the end of the fiscal year. He underscored the potential for rapid growth in the Indian media and entertainment sector, attributing it to the country’s vast population and abundant creative talent.

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Yoshida described India as a “creative country,” asserting that it offers numerous expansion prospects, particularly in the entertainment industry. He noted Sony’s established reputation as a top film producer in India since 2005. Furthermore, Yoshida highlighted the significance of India’s youthful demographic, with 50% of the population below the age of 30, suggesting ample opportunities for growth in segments such as anime and gaming.

Sony’s President, Chief Operating Officer, and Chief Financial Officer, Hiroki Totoki, emphasized that while electronics were initially the company’s primary focus when entering India 25 years ago, the entertainment sector now presents greater potential in the country.

N P Singh, Managing Director and CEO of Sony Pictures Networks India (SPNI), addressed the gathering and emphasized the expansion of Sony’s operations in India and the associated growth potential. Singh highlighted the previously announced merger between Zee and SPNI, which, upon completion, will enhance content production and foster stronger connections with various communities in India. However, regulatory approvals must be obtained before the acquisition can be finalized.

Additionally, recognizing the importance of fostering collaboration and global opportunities for Indian artists and producers, Sony is partnering with Sony Music India. This collaborative effort led to the establishment of Sony Entertainment Talent Ventures India in 2022.