Sony Pictures Television Chair Keith Le Goy Looks to Anime, Video Games as Future of IP

Sony Pictures Television chairman Keith Le Goy is exploring anime and video games as pivotal sources of intellectual property for future screen content, he mentioned during a discussion at Mipcom on Monday.

In an interview with Variety co-editor-in-chief Cynthia Littleton, Le Goy expressed that Sony is particularly focused on anime and video game franchises. “It’s becoming increasingly evident that while U.S. comic book properties like Marvel and DC have dominated entertainment for the past two to twenty-five years, their dominance may be waning. We believe that the next wave of compelling IP will stem from anime and video games,” he told the television executives gathered in Cannes.

Sony made a significant move by acquiring the anime streaming platform Crunchyroll from AT&T in 2021, merging it with Funimation. With ownership of PlayStation, Le Goy stated, “Sony is in a uniquely advantageous position.” He emphasized that the company’s Japanese parent organization is “1000%” keen on pursuing additional acquisitions. “There will be opportunities, and we are committed to pursuing them,” he noted, pointing to Sony Music’s aggressive expansion by acquiring music catalogs and publishing entities.

“Intellectual property is absolutely crucial,” Le Goy stressed.

He highlighted “Demon Slayer” as a property that exceeded the company’s projections. “The recent seasons have been among the top performances on Crunchyroll, confirming our instincts, but we didn’t foresee the film’s unprecedented success,” Le Goy admitted.

“The rollout across Japan and Southeast Asia indicated that something significant was developing. Did we anticipate its magnitude? No, but consider this: two of the year’s top five global box office hits are a video game adaptation, ‘Minecraft,’ and ‘Demon Slayer.’ This illustrates the current strength of video games and anime as engaging content. Moreover, music serves as a vital source of IP that captivates audiences, placing us in an advantageous position due to our ties with creators.”

Le Goy also discussed a recurring theme at this year’s market: the shift from cannibalization to aggregation. He noted a trend of less restrictive contract terms for streaming platforms, possibly in exchange for lower fees. “Many discussions with streamers revolve around whether they truly need ten-year rights following a series’ conclusion. If they reduce their payments, we stand to gain value from a wider distribution,” he shared. “The consumption patterns of these shows suggest we’re actually not sacrificing as much value as previously thought, but there is tremendous potential for mutual benefit through broader access.”

“We’re now in an era where previous concerns about cannibalization are diminishing. With the fragmentation in the media landscape, the focus is transitioning to aggregation instead,” he added.

Le Goy referenced how the early seasons of “Breaking Bad” on Netflix helped cultivate a new fanbase that later watched new episodes on AMC. “It created an exceptional cycle where audiences discovered, enjoyed, and discussed the show, lifting all collaborators involved with it—and obviously providing a boost to the show itself,” he said.