According to Sony’s latest (Opens in a new window) financial statement, Playstation Plus lost over 2 million customers between July and September 2022. 47.3 million people were paying subscribers in July, but 45.4 million were doing so in September.
The numbers have decreased since Sony updated PlayStation Plus in June, when it added three additional tiers. The costs for the three tiers—Essential, Extra, and Premium—vary, but Premium customers must pay $119.99 a year.
In addition to having access to a few free games each month, the subscription service enables players to save money. There are huge catalog (Opens in a new window) PlayStation 4 and PlayStation 5 titles available in the Premium level tier.
Despite the significant drop in PlayStation Plus subscribers, overall PS Plus improved (Opens in a new window) revenue increased by 10%, most likely as a result of people upgrading to higher levels. However, Sony CFO Hiroki Totoki stated on an earnings call that since PlayStation Plus’ redesign, VGC reports (Opens in a new window) , “there hasn’t been a fantastic momentum as a whole.”
He alluded to a “decrease” in catalog title sales as well as “sluggish” third-party software purchases as explanations for the delayed uptake, claiming that more people are now spending time outside as the pandemic eases. In fact, with 62.5 million sold in the three months ended September 30, game sales were down 13.9 million from the same period last year.
The future sales patterns, though, have him feeling upbeat: “Against that, PS5 engagement is extremely high, so in Q3 we expect some recovery.”
After selling 3.3 million PlayStation 5 consoles this quarter, Sony claims to have shipped a total of 25 million devices around the world. However, considering that it has only moved 5.7 million units since March, reaching its 18 million objective for this fiscal year, which ends in March 2023, may be difficult, according to the IGN notes (Opens in a new window) rating.
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