Sony Music, ‘Palworld’ game developer announce joint venture

Sony Music Entertainment (SONY), its subsidiary Aniplex, and video game maker Pocketpair have established a joint venture, Palworld Entertainment Inc., to expand and develop new businesses associated with the hit game, “Palworld.” The announcement was made Wednesday in a joint release by all three companies. “Palworld,” a multiplayer open world survival game created, produced and published by Japanese developer, Pocketpair, became the breakout hit of 2024 when the total number of players surpassed 25 million after only one month in release. “Palworld” is currently available on PC, Xbox Series X/S (MSFT), Xbox One, and through Xbox Game Pass, but not at this time available on any PlayStation platform. The JV will be responsible for developing the reach of the intellectual property and for expanding commercial business endeavors, including the global licensing and merchandising activities associated with “Palworld,” outside of the interactive game. JV efforts will begin with the development of exclusive merchandise based on the game – which will debut and sell at the Pocketpair booth during “Bilibili World 2024” (beginning Friday, July 12, 2024 in Shanghai, China) and be made available for pre-order at Aniplex and its subsidiaries, Aniplex of America and Aniplex Shanghai, e-commerce sites with more detailed information at a later date.