PlayStation Plus Subscribers Decline, But Revenue Increases In Latest Financial Report

Posted on November 3, 2022 by Nick Moreno

Listen to this Article:

For Sony Interactive Entertainment, user engagement is everything when it comes to its PlayStation platform. Came the release of the PlayStation 5, user engagement was at an all-time high compared to any other predecessor before it. So as the generation continued, many were surprised to see the decline for PlayStation Plus subscriptions then. Noted, Sony was not concerned about the change either.

It wasn’t until the summer this year that we understood why that was. In that, Sony Interactive Entertainment revamped PlayStation Plus with its new tier options: Essential, Extra, and Premium. This brought new initiative to be subscribed whilst also countering Xbox Game Pass as its subscription count is at a towering 25 million as of this January.

But in the latest financial results from corporate Sony, PlayStation Plus subscriptions face yet another decline for its second year for the fiscal year. Overall subscriptions dropped from 47.3 million to 45.4 million which is a shot down of 1.9 million users. Despite that, revenue for Network Services – which PlayStation Plus is categorized under – is facing an incline.

This is pointed out by Niko Partners analyst David Ahmad on Twitter. “Depends how you slice it. Are subscribers down? Yep. But despite that, Sony just had its best quarter ever for subscription revenue. ” He continues, “Revenue per subscriber in the PS+ segment is up 21% YoY.” So turnout is in favor of Sony despite where subscriber count stands.

Viewing Network Service closing out Q2 this year recorded at 117,006 million compared to 100,444 million from the same time last year further illustrates that. Elsewhere from Sony’s financial results, it is revealed that PlayStation 5 has sold more than 25 million units. You can read the full report by heading here.

Are you subscribed to PlayStation Plus at all?

Source: Sony

Share Everywhere!