Sony Corp CEO Kenichiro Yoshida announced during an annual meeting that the highly anticipated merger between two major broadcasting conglomerates in India, Zee and Sony, is likely to occur in September of this year. Yoshida expressed confidence that Sony’s merger with ZEEL would be completed “by the end of the first half of this fiscal year.
He emphasized the significant growth potential in the Indian media and entertainment market, attributing it to the country’s sizable population and abundance of creative talent.
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Yoshida praised India as a “creative country” with numerous opportunities for expansion, particularly in the entertainment sector. Additionally, he highlighted India’s position as the largest film producer since 2005. Notably, he acknowledged the substantial proportion of India’s population comprised of individuals under the age of 30, who constitute half of the country’s total population.
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Yoshida emphasized the potential for genres such as anime and gaming to experience significant growth in India due to this youthful demographic. Hiroki Totoki, Sony’s President, COO, and CFO, echoed Yoshida’s sentiments, noting that India holds greater promise for entertainment ventures compared to electronics, which had been the company’s initial focus when embarking on its Indian journey 25 years ago