Sony Pictures Once Thought of Purchasing BitTorrent
In an effort to diversify its business, Sony Pictures seriously considered acquiring BitTorrent Inc., according to leaked documents procured by TorrentFreak.
The draft presentation from early 2006 reveals that Sony Pictures added BitTorrent onto a shortlist of its potential acquisitions, together with Netflix, TiVo, Vongo and Starz. The media conglomerate even set aside $2 to $4 billion dollars to accomplish its goal.
The Sony presentation slide praised BitTorrent’s effectiveness at downloading online media, and hoped the acquisition could facilitate the integration of streaming capabilities into set-top boxes and TVs.
At the time, BitTorrent was planning to launch its own video store, and Sony was aware of that. This eventually launched a year later but never came to fruition.
Nevertheless, Sony decided not to buy the file-sharing company, and went for Grouper instead and also bought a 25% stake in Starz Media.
The move doesn’t necessarily seem a bad decision for Sony though, given BitTorrent still struggles to find good revenues sources. But Sony must be kicking themselves for missing out on the potential of Netflix, which now dominates online media distribution worldwide.