PS Plus Is Down Year-Over-Year, But Making More Money

There’s no doubt that PS Plus plateaued during the pandemic, and Sony has struggled to grow the service beyond 50 million active subscribers. That ceiling has meant the platform holder has turned its attention to extracting more revenue from each individual member, and the strategy appears to be working with the implementation of the various new tiers.

PS Plus did rebound slightly in the quarter ending 31st December, registering 46.4 million subscribers, up from 45.4 the quarter prior. However, year-over-year, the trajectory is still trending downwards: for the same quarter in 2021, the manufacturer had 47.4 million subscribers. That number, itself, was down 600k compared to the quarter before it.

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So while it isn’t an enormous drop-off, there are generally less PS Plus subscribers now than there has been previously. But one reason for optimism is that Sony is making more money per user: its network services segment generated a record ¥122.2 billion (~$952 million) in the most recent quarter, owing mainly to exchange rates but also to the new PS Plus tiers.

Sony will be hoping that, even if PS Plus does continue to decline, it can convert more of its active subscribers to PS Plus Extra and PS Plus Premium, thus increasing the overall income each user is creating. There’s still good room for growth in this department, so we feel positive about its outlook – and at the end of the day, it all means better incentives for existing members as the firm tries to improve its numbers.