📺🚀 featuring Quibi, Sony & Epic Games, Tik Tok leaves Hong Kong, Hamilton on Disney+, and Peacock vs Roku & Amazon
Happy Friday - lots to report!
Today, Sony announced a strategic $250m investment in Fortnite maker Epic Games. Over the last 30 years Epic Games has built its business from developing actual games, a game engine, a games store, and most recently the virtual world, and event venue Fortnite. Although Sony's stake was tiny, its $250m bought a 1.4% shareholding on a valuation of a whopping $17.86 billion. It's still a smart bet on the future of gaming, ahead of a much-anticipated upcoming console war with Microsoft's new Xbox later this year.
In other news, TikTok discontinued its operations in the Hong Kong market, as a reaction to the controversial new national security laws introduced there. This is the latest in a string of international incidents for the Chinese-owned popular app, following a ban in India, and a rumoured upcoming ban in the US.
The very popular Broadway musical Hamilton premiered on Disney + opening up a new audience for the streaming service, and a new way to bring musical theatre to its fans, who no doubt have been missing it during lockdown.
Until next week!