Sony’s second-quarter earnings report for 2024 reveals a total hardware sales figure of 61.7 million units for the PS5 console. In the past quarter, Sony sold 2.4 million PS5 units, a slight decrease from the same quarter last year when sales were at 3.3 million units. This decline aligns with Sony’s previous statement indicating a decrease in sales momentum for the PS5. The upcoming release of the rumored PS5 Pro towards the end of 2024 may offer a potential boost to sales, but only time will tell its impact.
Sony is not the only company facing a decline in hardware sales, as evidenced by previous issues with Xbox Series X|S sales and Nintendo’s recent quarterly report showing a 46.3% decrease in Switch sales compared to the previous year. However, despite the drop in hardware sales, software sales for PlayStation (including PS4 and PS5) remain steady at 53.6 million units sold, slightly lower than the 56.5 million units sold in the same quarter last year. Total software sales revenue is also on the rise, driven by income from content-based revenue streams such as live service offerings, reflecting Sony’s strategic shift.
A notable trend is the increasing share of digital game sales, accounting for 80% of total sales, up from 77% in the previous quarter. This suggests a continued decline in physical game sales in the long term. Additionally, the PlayStation Network boasts 116 million monthly active users, a slight decrease from the previous quarter’s 118 million users, yet an increase from the same quarter last year when there were 108 million users.
TLDR: Sony’s second-quarter earnings report shows a slight decline in hardware sales for the PS5, but software sales and revenue are holding steady. The shift towards digital game sales and live service content is driving growth, while the upcoming PS5 Pro release may provide a boost to hardware sales in the future.
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