Extracting details from Sony’s Q1/2024 business performance in the gaming sector:
Hardware:
The PS5 sold 4.5 million units in the past quarter, totaling 59.2 million units sold to date, slightly below the PS4’s record of 60 million units at the same point, despite the PS4 being discounted by $100 at that time. Sony anticipates selling 18 million PS5 units throughout the fiscal year.
Software:
Helldivers achieved tremendous success, selling 12 million units (PS5+PC) within the first 12 weeks, surpassing the previous record held by God of War Ragnarok in 2022. Future games like Destiny 2: The Final Shape (June 4) and Firewalk Studios’ Concord (due in 2024) aim to continue this trend with live service offerings.
Players:
Active PlayStation accounts saw a 9% increase to 118 million, with playtime in March 2024 rising by another 15% from the previous year, marking the second-highest period ever, following only the COVID era. The gaming console market has evolved from emphasizing software sales during the PS3 era to focusing on playtime during the PS4 era, catering to a growing player base and ensuring steady profits for Sony amidst industry changes.
TLDR:
Sony’s Q1/2024 gaming performance showcases strong hardware sales for the PS5, successful software releases, and a player base growth trend that prioritizes playtime and live service offerings for sustained profitability.
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