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2
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· Posted on
February 21, 2024

Sony's launching a new PlayStation subscription service

It's combining its PlayStation Plus and PlayStation Now offerings into one.

What's the key learning?

  • Sony's launching a new subscription service that combines its two existing platforms under the one name: PlayStation Plus
  • Subscriptions might be a massive success for streaming platforms, but the same success hasn't been seen in gaming companies... yet
  • Despite that, gaming companies are placing big, bold bets that it'll eventually become a crucial part of their businesses going forward.

Background: Sony's PlayStation already has a subscription platform called PlayStation Plus. It's also got PlayStation Now, but that didn't really take off.

What happened: Now, Sony's launching a new subscription service that combines the two platforms under the one name: PlayStation Plus.

What else: It remains to be seen whether gaming subscriptions will actually ever get the same hype that streaming platforms do.

🔔 What's the key learning?

💡Subscriptions might be a massive success for streaming platforms, but the same success hasn't been seen in gaming companies... yet.

💡 Recent data shows gaming subscription services make up just 4% of the total revenue for gaming in North America and Europe. Compare that to streaming services where subscriptions account for 83% of US music industry revenue.

💡Despite that, gaming companies are placing big, bold bets that it'll eventually become a crucial part of their businesses going forward. So, either Sony's being super brave...or super stubborn.

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