PlayStation’s console market took a big hit in 2023
It's known that companies tend to sell their consoles for a loss in hopes that their game sales will recoup those costs - and in many cases, they end up being right. Luckily for PlayStation, Sony has perhaps the biggest collection of industry icons, with Spider-Man, God of War, and The Last Of Us making bank.
This structure appears to have worked in Sony's favour, and as rumours indicate that Xbox games could be coming to the platform, it seems that there's no better time to be working at PlayStation. We say seems for a reason, because PlayStation has quietly readjusted its expectations after a less-than-ideal year.
PlayStation didn't sell as many consoles as it wanted to in 2023
Sony's most recent fiscal year presentation reveals a swathe of details about the company. Not only do we now know that no franchise games will release before 2025, but we've also learned that the console market isn’t working in the way that Sony wants it to.
As reported in the fiscal year call and shared by Video Game reporter Benji Sales on Twitter, PlayStation has revealed that its expectations weren't met during the holiday period of 2023, and it's suggested that it's not going to reach its goals for the fiscal year. The goal of 25 million units has been docked to 21 million.
It's thought that this is a result of a plateau in the home console market around the middle of the generation, with many who want a home console already buying one from either Sony or Microsoft. Equally, as the cost of everything rises, it's no shock that fans can't justify shelling out $600/£550 for a new-gen console.
What's next for PlayStation's console battle?
Click to enlargeOf course, we have the newly redesigned PlayStation 5 console supposedly on the way, which plans to give players the chance to attach and re-attach a disc drive - but can this really dig the company out of its struggles to sell a console?
Chances are it'll make a dent as some players look to upgrade, but we're just going to have to wait and see if PlayStation can recoup. Its goals were lofty to begin with, especially after it stuck to its 25 million sales hopes after a pretty measly Q1, selling only 3.3 million units.
Whatever comes next from Sony, it's going to have to be a product of ingenuity and fast thinking. 21 million is a big number, but with some major first-party exclusives in the bank, let's remember that Sony is a big company.
