Sony see new IP as key

"For me the answer is clear. Simply, we must support new IP creation to survive as an industry. Consumers crave new things. If we want to stay relevant in an increasingly competitive marketplace, we have to continue to produce new experiences," Denny told the gathered industry.

"New IP is truly the lifeblood of the industry and Sony's commitment to producing new IP will continue. We believe we have a promising line up of exclusive new IPs for the year ahead and one that is particularly special to me and reflects a growth of emotional connection and story-telling, is Heavy Rain."

Heavy Rain is due out in 2010.

By Luke Guttridge