Sony hikes PlayStation Plus fees by a quarter

Otis Hoffman
August 2, 2017

Sony said the big drop off was mostly due to a tough comparison to a year ago, when the company had a "highly profitable first-party title", which is likely a reference to Uncharted 4.

During the company's recent earnings call for the first quarter of the current fiscal year, the company revealed that it has shipped 63.3 million PS4 units till June 30, 2017.

Sony has confirmed that it is raising the price of PlayStation Plus, its subscription programme which enables PlayStation 4 online multiplayer access, cloud save storage and offers free-to-download games each month, with the annual membership fee jumping a quarter to £49.99 in the UK. Income decreased significantly due to the lack of any highly profitable first party game launched during the quarter. Sony even took a almost $1 billion writedown at its movie unit previous year.

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- Physical's growth meant that it increased to 33.6 percent of all recorded music revenue, up from 32.2 percent of revenue.

In April-June this year, camera sales also rose.

- Other revenue was down slightly to 14.9 percent of revenue (down from 15.1 percent).

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The company said noteworthy projects to watch during the summer are include Arcade Fire's Everything Now, Foo Fighters' Concrete and Gold, Foster the People's Sacred Hearts Club, French Montana's Jungle Rules, Kesha's Rainbow, LCD Soundsystem's American Dream, Old Dominion's Happy Endings, Laurent Voulzy's Belem and albums from David Gilmour and Indochine. Television Productions sales increased significantly, primarily due to higher licensing revenue for US series such as The Last Tycoon and Better Call Saul.

Sony kept its net profit forecast at 255 billion yen, more than triple that from a year earlier, and said it expects its operating profit to leap 73.2 percent to 500 billion yen, which will be the highest in nearly 20 years.

Further, for fiscal 2018, the company continues to expect attributable net income of 255 billion yen, and operating income of 500 billion yen.

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Streaming generated $346 million (38.44 billion yen), an increase of 25.4%, while physical sales grew to $301.8 million, up 16.2%.

Other reports by Info About Network

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