Sony Launches PlayStation Subscription Model - InvestingChannel

Sony Launches PlayStation Subscription Model

%Sony ($SONY) plans to launch a new video game subscription service this summer as it aims to drive sales of its %PlayStation console and compete with a similar offering from rival %Microsoft ($MSFT).

Sony says it will roll its existing PlayStation Now service into one single subscription service under the PlayStation Plus moniker. The new %PlayStationPlus subscription service will be available in June of this year and come in three tiers:

1) PS Plus Essential offers players two free games each month and access to online multiplayer games. It costs $10 U.S. a month or $60 U.S. for an annual subscription.

2) PS Plus Extra includes a selection of 400 downloadable PlayStation 4 and PlayStation 5 titles. It’s priced at $15 U.S. monthly or $100 U.S. a year.

3) PS Plus Premium includes 340 more games than the Extra subscription, and lets players stream a selection of PS, PS2, PSP, PS3, PS4 and PS5 games over the internet. PS Plus Premium costs $18 U.S. a month or $120 U.S. per year.

The new subscription model is Sony’s response to Microsoft’s Xbox %GamePass, a subscription service that lets users download and stream a variety of games.

Microsoft is spending big on Game Pass, acquiring massive video game publishers like %Activision ($ATVI) Blizzard and %Bethesda for a combined $76 billion U.S. to bring their popular titles onto the service.

Xbox Game Pass allows users to play video games on their phone, PC or Xbox console via the cloud, erasing the need for expensive hardware.

Sony said its PS Plus Premium service would let users stream games to their PC as well as the PS4 and PS5. Players will also be able to try some games for a limited time before deciding to buy them.

PlayStation games on offer at the launch will include Death Stranding, Marvel’s Spider-Man: Miles Morales and Returnal. Sony said it’s working with third-party developers to include more video game titles going forward.

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