31 janvier 2025

Krusell France

Ta dose d'actu digital !

PS5

Sony's results show the rewards of diversification | Opinion

Attentes fortes autour de GTA 6, PlayStation 5 en pâtit-il aujourd’hui ?We start with another compelling figure that is software sales down in unit terms, down almost three million units year-on-year to 53.6 million. Software revenues are up 20%. The drop in unit sales in isolation is not expected to be consistent given the various games that are launched from quarter to quarter, so this change is within the expected margin. However, the implication that Sony is making significantly more money per unit sold is certainly important.Some of the reasons for this are shown in the report, while some are not. One key reason that is not found in these numbers is the complete shift to $70 price points, which has become the default for most major new releases. This move may not be popular, even if it is more than justified by inflation that has occurred since the last time game prices were increased, but at this point it is almost a fact accomplished, and will add a few percentage points to revenues from new games at launch.Another reason for the increase is more evident in the numbers: add-on content sales rose 37% year-on-year. This number covers a wide range of different types of transactions. This diversity makes it a little tricky to pick apart exactly what is happening in that category – it would be very good to know from an analytical perspective how much of that year-on-year increase is due to Shadow of the Erdtree for example. Looked at more broadly, however, the diversity of transaction types within that category is a testament to how broad and robust the business Sony has built on its storefront is.This isn’t just a business that rises and falls depending on whether a big hit game launches in a certain quarter – it is easily capable of weathering a temporary decline in one category or another. Being able to grow software revenues strongly in a quarter when unit sales fell is exactly the kind of performance that this diversification is meant to deliver, with other aspects of the business continuing to provide growth even as one corner has slipped slightly.With the boosts we’re expecting to the PS5 business in the coming year, the hairline fractures in hardware numbers will soon be forgotten. More importantly, Sony is showing that it is capable of growing its headline numbers even in a troublingly low year for PlaySation like 2024 – this only makes sense when considering the totality of this diverse, complex business, rather than just the position of PS5 as a consumer hardware product.It’s the PlayStation business as a whole, not just the chips in a curvy box, that is so well-positioned to tackle any challenges that might come in the coming years.Expectations are high around GTA 6, is PlayStation 5 suffering from it today?

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