Sony has hit a new PS5 sales milestone. The company reports that it has managed to sell 54.7 million PS5 consoles since its launch back in 2020. However, it has also lowered its sales forecast for the year ahead after falling short of its initial hardware target ending in March 2024.
Sony originally forecast that it would sell 25 million consoles by the end of March 2024. The company only reported selling 8.2 million in the last quarter totalling 16.4 million during its 2023 fiscal year. The company expects to only reach 21 million of its forecasted 25 million by the end of March 2024.
According to the latest financial earnings report, Sony also expected to report a 5% decrease in revenue from its Games & Network Services segment. The company says this decrease is due to the drop in sales and an increase in losses from hardware due to promotions. However, the company says it expects ¥210 billion.
Sony president, COO and CFO Hikoi Totoki says as PS5 enters its fifth year, the company does expect console sales to slow down.
“Regarding PS5 hardware, which will enter its fifth year since launch. Partially due to entering the latter half of the console cycle, we’re aiming to optimise sales with a greater emphasis on balance with profits. So we expect a gradual decline in unit sales from next fiscal year onwards.”
When discussing the PS5 lineup for the year ahead, Totoki says PlayStation is focusing on high-quality productions and producing live-service games. However, the company won’t release any new major existing franchises until next year.
“Regarding first-party software, we aim to continue to focus on producing high-quality productions and producing live service games. 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 Spider-Man 2.”
Sony reported some strong game sales as well as an increase in subscription revenue. Marvel’s Spider-Man 2 has now sold 10 million copies. The Marvel’s Spider-Man series has surpassed 50 million units across PS4, PS5 and PC. Sony has sold 89.7 million games during the past financial year too. An increase of 3.2 million.
Sony’s Network services revenue (PlayStation Plus) increased year-on-year from ¥122.2 billion to ¥137.10 billion. PlayStation Plus subscribers have reached a record high of 123 million, up 11 million from 2023.
Despite no major existing franchises on their way this year, Sony does have a strong lineup of games on the horizon. Stellar Blade and Rise of the Ronin are expected in the coming months. The company also just launched Helldivers 2.
Reports claim that Sony is also expected to launch the PS5 Pro later this year. The super-powered console will feature DLSS-like AI upscaling and improved performance.
