Sony Q2 2022 earnings results saw PS Plus subscribers down, but revenue up
Since the PlayStation Plus revamp, Sony lost nearly two million subscribers, but revenue from PS Plus is the best its been in over a year.
PS Plus’s relaunch has been an interesting revamp for the PlayStation subscription ecosystem. You still have your normal PS Plus, but it’s been joined by Extra and Premium tiers that give players access to further features. Sony just launched one of its first quarterly earnings results since the launch of the PS Plus revamp and there’s some good news and bad news involved. The good news is that in Sony’s Q2 2022, it made more revenue off network services than ever. The bad news was that PS Plus subscribers were down nearly 2 million.
This could be seen in Sony’s official Q2 2022 earnings results reporting, which was posted on its investor relations website on November 1, 2022. According to the results, PlayStation Plus dropped in subscribers for the previous quarter, only maintaining about 45.4 million subscribers against the previous quarter of 47.3 million in Q1 2022. It was also down from the previous year in which Sony reported 47.2 million PS Plus subscribers.
That said, PlayStation Plus made more money for Sony than ever. The revamped subscription service was good for 117 billion yen (about $793 million USD). This was up from Q1 2022 at 106.5 billion yen and up year-over-year against Q2 2021, which posted 100.4 billion yen. This could be seen as a mixed bag for Sony. The company claims customers returning to regular activity is part of the drop in subscribers, but clearly the change to PS Plus has gone on to offset the loss in subscribers substantially.
With an interesting quarter in the books for PS Plus subscribers and revenue, it will be interesting to see where Sony goes from here with its revamped subscription system. Stay tuned as we continue to report on further earnings results from tech companies as their fiscal quarters close.
TJ Denzer posted a new article, Sony Q2 2022 earnings results saw PS Plus subscribers down, but revenue up