Sony’s bold investment in Carry1st, a South African video game studio, unfolds as a strategic foray into Africa’s burgeoning gaming landscape. The partnership, initiated through Sony’s Innovation Fund, explores commercial opportunities in a region poised to generate over $1 billion in gaming revenue by 2024. As the PlayStation giant anticipates record-breaking sales, Carry1st’s role extends beyond game development; it’s a key player in expanding PlayStation’s footprint in Africa. With a focus on digital evolution, from in-store purchases to online experiences, the collaboration aims to tap into Africa’s rising console adoption. Carry1st, riding a ninefold revenue increase, evolves from scaling games for others to developing original titles, marking a transformative phase in its early-stage startup journey.
Sony’s bold investment in Carry1st, a South African video game studio, unfolds as a strategic foray into Africa’s burgeoning gaming landscape. The partnership, initiated through Sony’s Innovation Fund, explores commercial opportunities in a region poised to generate over $1 billion in gaming revenue by 2024. As the PlayStation giant anticipates record-breaking sales, Carry1st’s role extends beyond game development; it’s a key player in expanding PlayStation’s footprint in Africa. With a focus on digital evolution, from in-store purchases to online experiences, the collaboration aims to tap into Africa’s rising console adoption. Carry1st, riding a ninefold revenue increase, evolves from scaling games for others to developing original titles, marking a transformative phase in its early-stage startup journey.
The CEO and co-founder of Carry1st, Cordel Robbin-Coker, revealed that discussions with the Sony Innovation Fund commenced approximately eight to nine months ago. His pitch to Sony centered around positioning Africa as the next significant market for video game growth. Robbin-Coker emphasized Africa’s potential, stating that as major companies like Sony seek the next billion customers and gamers, Africa stands out as a prime market. He specifically highlighted countries such as Nigeria, Morocco, and Algeria, where console adoption is on the rise.
The move by Sony into the African gaming market is well-timed, considering the explosive growth potential of Sub-Saharan Africa’s gaming industry. Projections indicate that the sector could surpass $1 billion in revenue for the first time in 2024, according to research conducted by Carry1st and venture capital firm Konvoy. Robbin-Coker noted that many gamers in Africa currently acquire consoles through “gray” markets, purchasing from vendors who import consoles from overseas for resale locally.
A key aspect of the partnership between Carry1st and Sony is the ambition to expand PlayStation’s presence in Africa. Sony, aiming to sell a record 25 million PlayStation 5 units in its 2023 fiscal year, sees Africa as a crucial market for driving growth in PS5 sales. Carry1st hopes to assist Sony in this expansion by offering support in go-to-market strategies and digital payments. Robbin-Coker also highlighted the evolving console business model, emphasizing the shift from in-store payments for physical consoles to a more online experience with digital downloads, free-to-play games, and in-app purchases.
Carry1st, specializing in developing social and casual puzzle-based mobile games tailored for an African audience, currently focuses on creating and scaling games for clients like Activision. However, the company is gearing up to develop its original titles, with plans underway for three new games scheduled for release shortly. While details about these original games are scarce, Robbin-Coker expressed confidence in Carry1st’s roadmap and hinted at the launch of their debut first-party game in 2024.
The company’s growth trajectory is impressive, with revenues soaring nearly ninefold between 2021 and 2023. Despite being an early-stage startup, Carry1st has positioned itself as a key player in the industry, working with major entities such as Activision, Supercell, and Riot Games to bring popular Western game franchises like “Call of Duty: Mobile” and “Valorant” to the African market. Some of Carry1st’s mobile game creations include “Mancala Adventures,” “SpongeBob Krusty Cook-Off” in collaboration with Nickelodeon, “Ludo Blitz,” and “Mine Rescue.”
Sony’s investment in Carry1st marks a significant milestone as it represents the first financial commitment of its flagship African venture fund, Sony Innovation Fund: Africa, launched in October 2023. The fund, with an initial allocation of $10 million, aims to invest in early-stage startups within Africa’s entertainment industry. Carry1st’s venture backers include notable names such as Andreessen Horowitz, Bitkraft Ventures, Google, Riot Games, and rapper Nas, who have collectively injected $60 million into the company.
Overall, this transformative venture, Sony’s strategic investment in Carry1st emerges as a pivotal chapter in the evolution of Africa’s gaming industry. Beyond financial infusion, the collaboration symbolizes a commitment to innovation, growth, and accessibility. Africa, often overlooked in the gaming landscape, now stands as a prime market for Sony’s PlayStation ambitions. Carry1st, with its impressive revenue surge and upcoming original titles, cements its role as a catalyst in shaping the continent’s gaming narrative. As the partnership navigates the dynamic landscape of digital payments, online experiences, and evolving console preferences, it holds the promise of not just expanding market share but fostering a robust gaming ecosystem that resonates with Africa’s diverse and enthusiastic gaming community.
