Following the success of Netflix, video streaming services have become extremely popular over last couple years. For instance, Apple and Disney are set to launch their streaming services in the coming weeks that will translate to increased cost of production for high number of contents required for a streaming network. As a result, Sony is reportedly looking at the possibility of selling its PlayStation Vue streaming service.
According to the report from The Information, the sale will also include Sony’s streaming technology as well as the subscribers. Although details are pretty scarce at the moment, one source has told the outlet that the company is in initial talks with a potential buyer, FuboTV.
In case you aren’t aware, Sony introduced the service back in 2014 in selected markets. Although the streaming service was pretty popular at the time, rising cost of production meant the company couldn’t keep up with competitors. As a result, the company was losing money to keep the platform afloat. As streaming services like Hulu and Netflix have become more popular, Sony has decided to sell the platform.
This latest news doesn’t come off as a major surprise considering that analysts for a while now have been saying that such smaller services will eventually go away due to the increased production costs for creating contents.