Due to lackluster PlayStation 5 sales, it seems that Sony is already considering this console in its the latter stage of its life cycle and will withhold major, existing franchise titles until Spring 2025.
The PlayStation 5 launched November 2020 and has sold 54.7 million units thus far. After a slow 2023 holiday, Sony revised their current fiscal year expectations of hardware sales from 25 million down to 21 million consoles. Putting these numbers into perspective, only 8.2 million PlayStation 5 consoles sold during the third quarter of 2023.
Despite major factors impacting sales such as the COVID-19 pandemic and chip shortage, Sony is adjusting their stance and vision for the near future–and this future means a next-gen console.
“Looking ahead, PS5 will enter the latter stage of its life cycle…As such, we will put more emphasis on the balance between profitability and sales. For this reason, we expect the annual sales pace of PS5 hardware will start falling from the next fiscal year.”
-Matsuoka (Bloomberg)
In addition to viewing the PlayStation 5 as entering the latter stage of its life cycle, Sony also commented on how this impacts their game development and release dates. Sony intends to withhold releasing major franchises until April 2025.
“But while major projects are currently under development, we do not plan to release any new major existing franchise titles next fiscal year like God of War Ragnarok and Marvel’s Spider-Man 2.”
-Hiroki Totoki
Totoki, Chief Operating Officer of Sony Group, has been visiting gaming studios while trying to be transparent about the existing business challenges of growth and financial sustainability.
See below on Sony’s outlook as they enter a new fiscal year:
While Sony has seen some success in software sales and a healthy number of players in their PlayStation Network (reaching 123 million monthly active users), it’s clear that leadership is seeking to adjust their sales and act quickly to ensure a successful future.
What are your thoughts on Sony’s statements and numbers? Please share your thoughts with us on our Boss Rush Facebook Group or our Boss Rush Discord.
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Sources: IGN, Bloomberg, VGC, Gematsu
Featured Image Source: Sony PlayStation
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