Sony Looks To Add More Value To PS Plus And Adjust Prices According To Maximise Profitability

HIdeaki Nishino, President and CEO of Sony Interactive Entertainment, has revealed during the electronics giant’s latest business segment meeting that it will continue to adjust the price of PlayStation Plus, noting that consumers are happy to pay for more expensive tiers despite the price hikes.

A slide presented during the meeting revealed that during FY2022, 17% of PS Plus subscribers opted for PS Plus Premium while 13% deleted PS Plus Extra. However, for FY2024, this figure had increased to 22% and 16%, respectively.

Subscribers are increasingly choosing our Premium and Extra tiers, which now represent approximately 38% of total subscribers. PlayStation Plus is highly valued by our players and continues to drive engagement,. We’ve already seen a trend toward the option of higher tiers within our service, as evidenced by the subscriber mix we achieved in FY2024, where approximately 38% of players are now subscribed to PlayStation Plus Premium or Extra tiers.

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This is even after the global price increases we implemented in FY2023, and more recently, the local price increases in selected countries, to improve our pricing strategy across certain market clusters, and also to account for [foreign exchange] movements.

These price increases were partly a result of increasing value we bring to the players, through the quality and diversity of content we continue to add, as well as investment in the features to improve the service further, such as player personalisation and enhanced content discovery. The PlayStation Plus service offers great value for our players, and we will continue to add more value and adjust our pricing strategy in a dynamic way to maximise profitability.

Elsewhere, Nishino also touched on the release of the Nintendo Switch 2, specifically whether its increased power could prove extra competition for PlayStation formats. In response, the executive noted that Sony believes ‘PS5-level performance is required to achieve a great experience on big screens.’

Sony also touched base on the PS6 briefly during the business segment, with Nishino saying that the company is aware there is a lot of interest in its next-generation console plans.

[Source – VGC]