Sony didn’t chase the streaming land grab. It didn’t launch a global SVOD. It didn’t build a walled garden.
It stayed the arms dealer.
And now, with the market shifting from exclusivity to IP yield, Sony’s model doesn’t just look smart. It looks inevitable.
Sony Never Blinked
While Disney, Warner Bros., and Paramount scrambled to build their own streaming services, Sony stuck to its guns. It focused on licensing, not locking content behind paywalls. It kept the pipeline open.
Compare that to Paramount, back when it was ViacomCBS. Under Bob Bakish, the company went from arms dealer to streamer to something in between. No knock on Bob… Everyone was under pressure to “own the pipe.”
Sony never took that bait.
It kept selling content to the highest bidder, leaned into vertical IP categories like anime and gaming, and doubled down on reach instead of retention.
Now? That playbook looks built for where the business is actually going.
The Market Caught Up to Sony
Keith Le Goy’s MIPCOM remarks were a flex, even if he didn’t frame them that way. He pointed to anime and gaming as the future of IP. He talked about rights flexibility. He called out aggregation as the new default.
He didn’t need to say “we told you so.” The business already has.
Sony owns Crunchyroll. It owns PlayStation. It owns music catalogs. It owns franchises that travel globally across formats. It isn’t stuck protecting a platform. It’s free to chase yield.
Which is exactly what this market rewards.
Built for Yield
The U.S. streaming market is now structurally non-exclusive. Nearly 40% of titles are available on two or more platforms. For “premium” titles, it’s 41%. It’s not a loophole. It’s the model.
Sony fits that model perfectly:
- No streamer to protect
- IP that scales across AVOD, SVOD, FAST, theatrical, gaming, merch, and music
- Flexibility to license wherever the dollars flow
Everyone else is still fighting over who gets to stream what, and for how long. Sony is asking a different question: how many ways can we monetize the same piece of IP?
This Isn’t Just Content Strategy. It’s Business Model Design
Take Demon Slayer. It crushed on Crunchyroll. It crushed in theaters. It crushed on merch. It’s gonna crush at my son’s 8th birthday party. It’s not about one window or one platform. It’s about the lifetime value of IP across every revenue channel that matters.
That’s Sony’s model.
It’s also what this next phase of the industry demands.
The Streaming Wars Take
This is the shift that matters: exclusivity used to be the strategy. Now it’s the constraint.
Sony is winning by doing the opposite of what everyone else did. It didn’t build a streamer. It built a monetization machine. One built on anime, gaming, and music IP that doesn’t need platform walls to drive value.
Media execs trying to unlock the next phase of growth should be asking: are we maximizing IP yield across every format, or are we still hoarding content to protect a subscriber base?
The power move isn’t locking things up. It’s letting them go.
The metric isn’t exclusivity. It’s yield.
