Ryan says that more acquisitions are possible, but he was eager to remind us that Sony's existing studios have grown considerably over the last generation.
"It's probably not widely appreciated or understood, to what extent that we have grown our own game development capability organically over the course of this generation," he says. "Obviously, it's been helped by the acquisition of Insomniac, and it's wonderful to have them as part of the family. I would just invite anybody to look at the launch window line-up of the PS4 generation, or PS3 generation, and compare it to what we are going to bring in the equivalent phase of PS5. There's just no comparison.
"That is the fruit of not massive spending sprees, but of very, very steadily, carefully planned organic growth. Probably the best example I give... I could obviously talk about Naughty Dog, but they've always been making great games. But let's talk about Ghost of Tsushima, which has been a critical delight and certainly a commercial delight to an extent that we didn't think it would be. That speaks volumes to the work that Sucker Punch has done to build on their previous canon of work.
"We are lucky enough to have five or six studios who fall into that category... But it isn't luck, because we've been working on this for years and years. Very quietly, in a very PlayStation way, we've been building something quite special with these studios. You can do it with frenzied acquisition, or measured acquisition, or you can do it organically."