Sony Announces Formation of Sony Online Entertainment

Posted on March 30, 1998

Sony Corporation of America and Sony Pictures Entertainment announced the formation of Sony Online Entertainment Inc. (SOE), combining the online distribution network of Sony Online Ventures Inc. and the entertainment brands of Sony Pictures Entertainment. The new company signals the next phase in the evolution of the company's online network, The Station@sony.com, with a sharpened focus on online games and gameshow entertainment that will be developed and produced in-house and by third parties.

The new company, which combines the resources and assets of Sony Online Ventures Inc. (SOVI) in New York City and Columbia TriStar Interactive (CTI) in Los Angeles, will be led by President Lisa Simpson, who had been SOVI's Senior Vice President of Business Development. Richard Glosser, formerly Senior Vice President of Columbia TriStar Interactive, will be Executive Vice President of SOE responsible for overseeing the new company's overall business, marketing and advertising sales activities. Mark Benerofe, who had been SOVI's Vice President of Programming and Platform Development, will head that same function for SOE as Senior Vice President. Also announced was the addition of Chris Tice as Vice President of Advertising and Partnership Marketing for SOE.

This year, The Station will announce multiplayer tournament versions of Jeopardy! Online and Wheel of Fortune Online and the debut of an online version of The Dating Game. "We're pleased that our studio's properties have become such strong attractions in the online arena," commented Andy Kaplan, Executive Vice President, Columbia TriStar Television Group, a Sony Pictures Entertainment company. "We look forward to building other shows into franchise properties online."

Growth in the audience for online games, gameshows and entertainment is expected to soar, according to Forrester Research. Forrester projects the current online game population to grow to over 15 million players by the year 2000. Forrester's research indicates that online games will reach revenues of $866 million by 2000.