PlayStation Plus might be leaking subscribers—but it’s not all that bad

PlayStation is bleeding subscribers as Sony estimates PlayStation Plus has lost around 2 million users since the introduction of its revamp.

Sony just released its second-quarter financial results for the fiscal year of 2022 and at first glance, a loss of 2 million subscribers seems like it’s dire for the subscription service. But, looking at its financial statement, PS Plus revenue has actually gone up and has been at its best yet.

This might be due to the tiered subscription Sony has for consumers. Higher revenue but a lower subscriber base might be an indication of players preferring to pay more for the subscription. So even though the subscription base is lower, it doesn’t mean revenue is falling.

Sony has also beaten its previous quarter’s game sales with a significant number of people buying physical games this quarter compared to the last. Second quarter sales also beat its year over year.

Sony is still doing great. PS5 sales actually went up from 2.4 million last quarter to 3.3 million. Sony’s games segment is still proving to be a behemoth and shows no sign of weakness and might only grow more with the much-awaited release of God of War: Ragnarok.

But Microsoft’s recent moves might make Sony think twice about its position as 2023 is looking to be a heavy year for first-party releases coming to the Xbox. It’ll be interesting to see the interaction between these two giants as Xbox tries to re-establish itself in the market and Sony tries to maintain its position at the top.