What's going on?

On Tuesday, Japanese technology giant Sony announced its intention to acquire the majority of music publisher EMI Music Publishing for a chart-topping $2 billion.

What does this mean?

A new CEO took over in April, as his predecessor (who spearheaded the company�s 2016 “smart” tech strategy � which aimed to offer new products that harnessed artificial intelligence) moved into the role of chairman. Sony�s now on a journey to become a major content player in games (via its PlayStation platform) and entertainment. Last week it took a stake in the Canadian company that produces the Charlie Brown cartoon, Peanuts. Acquiring EMI Music Publishing � which owns the rights to 4.4 million songs, including the dulcet tones of Alicia Keys � adds to Sony Music�s stable of artists that includes Justin Timberlake and Elvis.

Why should I care?

For markets: Sony�s changing its tune.

Sony�s shedding its historical image as a maker of machines and plans to focus on growing the �recurring revenue� parts of its business � like its PlayStation Network, which has 80 million gamers paying for subscriptions and to download games. Last year, Sony reported its highest-ever annual profit despite selling less hardware than in the prior year. Apple�s been doing the same thing � using its ecosystem that includes digital content like Apple Music, Apple Pay and Apple TV to lock in customers and generate predictable income.

The bigger picture: The B-side: Content wars.

While Netflix, Amazon and � starting next year � Disney are fighting it out for leadership in streaming television shows and movies, there�s a battle brewing in music as record labels try to own as many hits as possible. Some analysts predict the music streaming business will grow by a whopping $30 billion per year for the next decade, with music owners set to make a pretty penny by letting the likes of Spotify and the newly-revamped YouTube Music stream their tunes.