Sony’s PlayStation Plus Service Witnessed a Massive Fall In User Count After the Revamp in June

Sony’s online gaming subscription service, PlayStation Plus, has seen massive drops in user count after the revamp. Sony says the reason behind the drop is the underperformance of third-party games and low sales of the PS5 console. 

The online subscription offers attractive services like monthly free games, exclusive discounts, online multiplayer, and many more. The subscription generates around 15% of the total revenue of the company. But ever since the revamp, the user count has seen a drastic fall in numbers. 

According to the recently published subscriber count in the Fiscal Year 2022 Q2 financial results, it is apparent that PS Plus has lost millions of users in the previous months. Despite the loss, Sony is actually generating more revenue from the service than ever.

PlayStation Plus Subscription lost two Million users since June

Sony was expecting a surge in subscribers after the revamp. Instead, the service witnessed a drop in user count in the quarter following the revamp. The user count dropped from 47.3 million to 45.4 million by the end of September 30, 2022.

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However, despite the fall, PlayStation is actually generating more revenue from the service than before. Sony’s Network Service, which included PS plus subscription and advertising is generating 10% more revenue, ¥116 billion compared to ¥106 billion in the previous quarter.

The surge in revenue shows that Sony is making more from each subscriber. The reason is expected to be the newly introduced higher subscription tiers in PS Plus. Sony’s CFO Hiroki Totoki blamed the decline in Third-Party games and the low sales of the system for the fall in the user count.  

What are Sony’s PS sales figures according to the FY2022 Q2 reports?

In the Q2 of the Fiscal year of 2022, Sony’s PlayStation witnessed a 12% hike in revenues, generating around $5 billion. But at the same, the operating profits have seen a 49% drop, declining to $305 million. The reason being the hike in prices in the industry.

But Sony has assured that the upcoming FY2023 will be much better for the company. They have told, “PS5 engagement is quite high, so in Q3 we expect some recovery. We have strong titles from first-party, and we have some seasonal effects. So, in Q3 we can see some recovery from the downturn trend – that’s our expectation.”

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What do you think about the PS Plus Service? Do think it will recover its users? Let us know in the comments below!