Sony has bought a $250 million stake in the company behind? Fortnite, as the Japanese group prepares for the launch of its PlayStation 5 console with another big bet that games, music, film and other entertainment will converge around social media. Sony will acquire a stake of about 1.4 per cent in US-based Epic Games in return for its investment. That is not enough to secure exclusive distribution rights for Epic’s main titles, but it signals that the companies will deepen co-operation as the coronavirus pandemic boosts appetite for digital escapism. The deal follows the success in April of a virtual concert tour by rapper Travis Scott held inside the virtual world of? Fortnite? — a multiplayer combat game that has evolved into a social media platform. One concert drew a record 12.3 million live viewers and led to a fourfold increase in streaming of the artist’s latest music video. Music industry executives, hit by a halt in live events around the world since March, are more closely engaging in how to use forums like? Fortnite? as an alternative… The investment in Epic, known for technology that powers virtual reality content, also comes as Sony intensifies efforts to perfect its VR headsets… Citigroup recently estimated that it expects the overall VR market will be worth $154 billion by 2030 compared to just $7 billion last year…

Leo Lewis and Kana Inagaki?