HomePlayStation’s Mixed Bag: Fewer Consoles Sold, More Profits MadeBlogPlayStation’s Mixed Bag: Fewer Consoles Sold, More Profits Made

PlayStation’s Mixed Bag: Fewer Consoles Sold, More Profits Made

Sony announced today that it has sold over 61 million PlayStation 5 consoles, marking a significant milestone. Despite this achievement, hardware sales have experienced a 32% decline year-over-year, reflecting a broader trend in the gaming industry.

In the most recent quarter, Sony sold 2.4 million PS5 units, a decrease from the 3.3 million units sold in the same quarter of 2023. This trend underscores the ongoing challenges in the hardware market, with several factors contributing to the decline, including market saturation and increased competition.

Conversely, Sony’s game revenue increased by 12% year-over-year, leading to a 33% rise in profits. This boost is largely due to an 18% increase in software revenue and a 25% surge in Network Services revenue, driven primarily by PlayStation Plus (PS Plus) subscriptions.

Sony’s PlayStation Network now boasts 116 million monthly active users, up from 108 million the previous year. However, this figure has dropped from 118 million users in the last quarter, reflecting some fluctuations in user engagement.

The decline in hardware sales is contrasted by strong software performance, with higher game prices contributing to increased revenue and profit. The quarter featured major releases like the PS5 exclusive “Stellar Blade,” which sold a million copies by the end of June, as well as “Ghost of Tsushima: Director’s Cut” on PC and “Destiny 2” expansion “The Final Shape.”

In comparison, Nintendo sold 2.1 million Switch consoles in the same period, while Microsoft reported a 42% drop in hardware sales in its previous quarter. This trend suggests a wider industry shift, with companies adapting to changing market dynamics.

For more information, read the full report here.