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Thursday, Jun 8, 2023

Sony Increases Investment in UK Children’s App

Sony Pictures Television Networks upped its investment in London-based Hopster, a subscription app for young children, according to an April 25 announcement.

The announcement didn’t disclose the size of the Culver City entertainment conglomerate’s investment, beyond stating it was a multi-million dollar buy-in. A spokesman for Hopster declined to disclose the investment’s terms.

Sony became a minority stakeholder in Hopster in 2016, and also took a seat that year on the company’s board.

Hopster characterizes itself as a “nurturing digital environment” for preschool-aged children.

“We recognize digital is a crucial element to our business, particularly in the kids’ market where tablets are the choice of device for our audience,” Kate Marsh, executive vice president of Sony Pictures Television’s Western Europe International Networks division said in a statement. “Investing in Hopster complements our growing kids’ portfolio.”

Media and entertainment reporter Matthew Blake can be reached at 323-556-8332 or mblake@labusinessjournal.com

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