Sony just revealed its Q1 FY2022 Consolidated Financial Results. The financial report has revealed some massive information about the sales and numbers the company has obtained during this quarter, and according to Sony’s reputation, they are underwhelming

The most significant drop Sony has experienced this year till now has been in PlayStation software sales. The major thing that has put PlayStation ahead of its competitors has been the PlayStation software. 

But this year, things aren’t looking promising as the software sales have declined by 26%, according to the financial year report. Though Sony has come out with major exclusives this year, including Horizon: Forbidden West, in general, the response from the players doesn’t seem that encouraging. 

sony playstation
Source: Sony

However, Sony believes the software sales will go up as some notable titles from PlayStation software are planned this year. The Last of Us Remake and the most awaited God of War: Ragnarok will drop this year. If there is one game that we can predict will rule the market, that is GoW: Ragnarok.

Sony also revealed that PlayStation 5 sales have increased by 4% compared to the last financial report. They have sold 2.4 million units of PlayStation 5 so far and believe that they will be able to meet the target of 18 million units that they had in the previous report.

Also, according to Sony, the unavailability of the PlayStation 5 issue is more of a supply chain issue than hardware unavailability, and the availability will be better this year. 

playstation games
Source: PlayStation Blog

Sony has also reported the number of active PSN users has declined by 3% and currently stands at 102 million. At the same time, PlayStation Plus subscribers have increased by 2% only despite Sony changing the plan to add more titles. 

Another reason people could be shying away from the games is due to their price tag. The Last of Us Remake has been priced at $70. Considering that the game is only a remake and most people might already have played it, the price doesn’t justify it at all. 

According to the report, Sony has stated that the business has weakened this year due to lesser PlayStation software sales, but it still hopes to get back up and meet the target of 18 million PS5 units sold this year and better software sales for the rest of the year. 

Sony is not only facing this crisis has PC sales previously plummeted historically as well after hitting their peak during the pandemic. We also recently got a financial report from Xbox, which revealed their sales numbers dropped too. We hope we see great content from Xbox and PlayStation in the future so that gamers can regain their interest. Also, better availability of consoles and other components. 

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Abdullah Waseem
News Reporter Abdullah is an avid gamer who primarily plays single-player titles. If you can't find him anywhere, he'll probably be at his desk playing The Witcher 3 for the millionth time. When he isn't playing games, he's either reading or writing about them.