PlayStation wants to acquire new game development studios

Sony Interactive Entertainment (SIE) wants to acquire new studios, saying that exclusive "content is more important than ever before."

As reported by Video Games Chronicle, SIE President and CEO Jim Ryan told Nikkei that the company is considering mergers and acquisitions to grow its existing portfolio of 13 development houses.

"We have been in the game business for 25 years and have big assets," Ryan said. "It will be difficult for new entrants to have such a production company or title."

Acquiring more studios will keep the company competitive with Microsoft, which has been aggressively acquiring new development studios over the past few years, including the recent purchase of Double Fine. Unlike Microsoft, Sony hasn't updated its portfolio in several years since it founded North West Studio in 2015 to head up development on PSVR titles.

That Sony is looking to add new studios makes sense considering it recently told Wall Street Journal that its main strategy for the PS5 is to appeal to players who prefer triple-A games.