Last year, Sony implemented a slight price increase across all of its PS Plus subscription tiers. This move proved to be successful for the video game company, as they have reported a significant boost in revenue from their online subscription service.
PS Plus subscription price changes lead to revenue boost
In Sony’s Q2 FY2024 Consolidated Financial Results, they revealed a strong growth in earnings from PS Plus, with an impressive 18% increase. Sony attributes this surge in revenue to the price adjustments made to the service, as well as the introduction of higher tiers of service.
Sony stated, “PS Plus has contributed to a steady stream of earnings, with sales increasing by 18% year-on-year in U.S. dollars. This growth is primarily driven by the rise in ARPU (average revenue per user) resulting from the shift to higher service tiers and the impact of pricing updates.”
PS Plus is not the only success story for PlayStation. Sony also highlighted the success of Team Asobi’s platformer Astro Bot, which has sold over 1.5 million copies since its launch in September. Recognizing the appeal of single-player games, Sony plans to release a “major” single-player title every year, starting with Ghost of Yotei.
For subscribers to PS Plus, there are a range of valuable services available across the three tiers. Those on the Extra or Premium tier for PS5 Pro can access an assortment of enhanced titles through the PS Plus Game Catalog. The Premium tier also offers Game Trials, providing access to popular games like Alan Wake 2 and Baldur’s Gate 3.
In addition, Essential users of PS Plus can now claim a selection of new games for the month of November. Titles such as Hot Wheels Unleashed 2 Turbocharged, Ghostwire: Tokyo, and Death Note Killer Within are currently available for redemption.