GIVEAWAY: TEAMGROUP T-Force VULCAN Z SATA III SLC 2TB SSD, two up for grabs!

Despite massive PlayStation Plus loss, Sony's network services are stable

Despite the largest PlayStation Plus subscriber loss since 2014, Network Services game revenues are stable, indicating wider adoption to new PS Plus subs.

Despite massive PlayStation Plus loss, Sony's network services are stable
Published Nov 5, 2022 1:52 PM CDT   |   Updated Tue, Nov 29 2022 1:04 AM CST
1 minute & 50 seconds read time

Sony was just hit with the largest PlayStation Plus subscriber loss across the PS4 and PS5 generation, but its Network Services revenues are are stable.

Despite massive PlayStation Plus loss, Sony's network services are stable 42

PlayStation's major metrics are have slid downward throughout Q2 as pandemic highs start to ease. PlayStation's total monthly active users are down to 102 million, the lowest Q2 since 2019, microtransaction revenues are down 20% to $1.36 billion, total revenues dropped by 11% to $5.2 billion, operating income slide 59% to $304 million, and overall game unit sales and total video game revenues were down 18% and 14% respectively.

Despite massive PlayStation Plus loss, Sony's network services are stable 30

On the subscription front, Sony lost 1.9 million PlayStation Plus subscribers throughout July - September 2022. This is the largest loss in many years, but data shows that spending is still high among the current subscribers.

Despite massive PlayStation Plus loss, Sony's network services are stable 25

Network services revenues remain stable when converted to USD, maintaining strong earnings of $847 million (up nearly 3%, or $24 million quarter-over-quarter) even as subscribers slip by almost 2 million. These earnings are up to record Q2 levels in yen, which indicates that Sony is successfully converting existing PS Plus subscribers over to the more expensive Extra and Premium subscription tiers while also attracting new sign-ups.

Despite massive PlayStation Plus loss, Sony's network services are stable 242

Ideally, Sony would like to grow the PlayStation Plus subscriber count while also moving users over to the more expensive tiers, but like any service, there will be churn as consumers let subscriptions lapse and move on to other content.

Buy at Amazon

PS5 God of War Ragnarok Launch Edition

TodayYesterday7 days ago30 days ago
$69.99$69.99$69.99
* Prices last scanned on 12/7/2022 at 6:50 am CST - prices may not be accurate, click links above for the latest price. We may earn an affiliate commission.
NEWS SOURCE:sony.com

Derek joined the TweakTown team in 2015 and has since reviewed and played 1000s of hours of new games. Derek is absorbed with the intersection of technology and gaming, and is always looking forward to new advancements. With over six years in games journalism under his belt, Derek aims to further engage the gaming sector while taking a peek under the tech that powers it. He hopes to one day explore the stars in No Man's Sky with the magic of VR.

Newsletter Subscription

    Related Tags

    Newsletter Subscription
    Latest News
    View More News
    Latest Reviews
    View More Reviews
    Latest Articles
    View More Articles