PlayStation 5 sales cross 21.7 million but gaming revenue is down

The Japanese tech giant shared its financial results for Q1 of the fiscal year 2022.
PlayStation 5 and controller

PlayStation’s owner Sony released its financial report for the three-month period that ends on June 30, 2022, and announced that it has shipped 2.4 million PlayStation 5 consoles in this quarter, meaning Big Tech company shipped a total of 21.7 million PlayStation 5 units worldwide.

The number of shipped units is only up by 0.1 million —from 2.3 million— compared to the same quarter of the previous fiscal year. Playstation 5 sales reached 20 million earlier in June 2022, but Sony has been facing several issues delivering the next-gen console to the fans, the main problem being the chip shortage due to coronavirus related lockdowns.

Veronica Rogers the head of global sales and operations at SIE promised that Sony will pick up the pace and ramp up PS5 production for the rest of 2022 back in June, but it’s still nearly impossible to find the latest PlayStation console at retailers or online unless you’re willing to pay the extra buck to scalpers.

The lack of big PlayStation titles hurt the software sales

Sony PlayStation titles lined up

Sony managed to keep its hardware sales stable, and even improved it slightly year over year, but this quarter has seen no major first-party releases on PlayStation 5 so far. Horizon Forbidden West and Gran Turismo 7 are the last first-party titles the gaming giant pushed out and these titles were released in February and March, respectively.

Sony’s game sales went down from 63.6 million to 47.1 million year-over-year, and the PlayStation Plus rework didn’t improve the subscriber number, in fact, it also went down, from 47.4 million to 47.3 million.

The company puts the blame on having fewer active players on the PlayStation Network, which fell from 105 million to 102 million. Sony also believes the number of third-party games and expansions are part of the main problem.

The tech giant has been investing in the PC market for the last two years and seeing positive results so far. Sony aims to make $300 million from PC games this year and it doesn’t seem like an impossible goal after closing Bungie’s acquisition for good.

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