Sony lowers forecast for PS5 gaming sales in 2022

At the end of its fiscal year in May, Sony was fairly bullish on gaming sales, forecasting sales of 18 million PlayStation 5s in 2022 after 11.5 million were sold in 2021. The company also expected a “significant” increase in revenue from its gaming division compared to 2021 due to an increase in “all categories.”

However, in its latest earnings slump, the company revised its earnings guidance down 16 percent to 255 billion yen ($1.9 billion) from 305 billion yen ($2.3 billion) in May, “on the back of an expected decline of sales of first-party titles,” it wrote. The company also attributed the drop in revenue to higher spending as it closed its acquisition of Bungie Studios earlier than expected.

Sony hasn’t said anything about its guidance for the PS5 console, but it did sell 2.4 million units this quarter, compared to 2.3 million in the same quarter last year (21.4 million units to date). That means it needs to average over 5 million units over the next three quarters to meet its May guidance — something it’s never done before. However, in May Sony said it will finally be able to ramp up production to meet PS5 demand as supply chain issues ease – although consoles are currently in short supply.

On the software side, things also went awry, as Sony sold just 47.1 million titles, including 6.4 million first-party games, compared to 63.6 million titles and 10.5 million first-party games in the same quarter of 2021 In addition, PlayStation Plus The number of users decreased slightly compared to the fourth quarter (47.3 million instead of 47.4 million), and the monthly active users also decreased from 106 to 102 million. Sony introduced the new higher-priced PS Plus Extra and Premium tiers in June, but the impact of that has yet to be revealed – hopefully we’ll hear more in the next quarter.

Looking ahead, Sony has some big titles on the horizon that could boost software sales, including God of War Ragnarok coming November 9th, and The Last of Us Part I Remake will be released on September 2nd. On the hardware side, PSVR 2 has been unveiled but isn’t expected to release until next year.

The next quarter will be a lot more interesting for Sony’s gaming division, as PS5 sales will show if it’s been able to ramp up production. Game sales will also be notable as this quarter’s steep decline bodes ill for the industry as a whole.

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https://www.engadget.com/sony-significantly-lowers-forecast-for-ps-5-gaming-sales-in-2022-083235505.html?src=rss Sony lowers forecast for PS5 gaming sales in 2022

Russell Falcon

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