Sony’s video game division is reporting record sales on the back of PlayStation 5
By Bob Garcia
The PS5 has proven to be a monster hit with gamers, propelling Sony to new revenue heights
There is no doubt that the arrival of the Play Station 5 (PS5) was great and highly anticipated news for all video game fans. It was expected that the experience, through improved graphics and many other factors, was going to be special and unparalleled. Based on this great acceptance and the millions of purchases of this console around the world, Sony’s video game division has reached the best financial numbers in its history. Sales of the PS5 are nearing eight million units and it goes without saying that this figure will increase more and more as time goes by.
According to Sony’s report for the fiscal year ending March 31 of this year, sales in the network services and gaming segment increased astronomically. In total, a 34% year-on-year growth was calculated, which represents an amount of around $24.3 billion. Operating revenues, meanwhile, also had a very positive impact, reaching a total of $3.14 billion, an increase of $952.5 million year over year.
Sony said that it is aware that this increase has been due to game software sales, but that it has also been obvious that the arrival of the PS5 late last year was a catapult that pushed those numbers skyward. The company also expressed that those results were “partially offset by a loss resulting from strategic price points for PS5 hardware that were lower than manufacturing costs.”
The first quarter of sales for Sony’s console was undoubtedly the biggest sales quarter, totaling 4.5 million units sold, while the fourth quarter totaled 3.3 million, bringing the total to 7.8 million units sold to date. This had not been achieved even by the Play Station 4, which needed more than six months to reach a similar figure.