Sony hosted its 2022 Business Segment Briefings this week, and according to a presentation by Sony Interactive Entertainment CEO Jim Ryan, shortages of the in-demand PlayStation 5 console are expected to end in 2024.
Per the presentation, when the PlayStation 4 launched, it sold at a rate of roughly six units per minute, taking nine days to reach 80,000 units sold. By contrast, the PS5 sold at a rate of nearly 1,000 per minute, which meant it hit the 80,000 unit threshold in only 82 minutes. However, supply constraints in the console’s second year caused sales of the PS5 to dip below PS4 levels for the equivalent timeframe. Sony now expects that the PS5 will close the cap on its predecessor in year three and surpass it in 2024.
The presentation details several reasons for the supply constraints, including the COVID-19 pandemic’s impact on parts inventory and Russia’s war in Ukraine. To combat these shortages, the company states that it will begin sourcing multiple suppliers for “greater agility in unstable market conditions.” It also has plans for “ongoing logistical negotiations to maintain optimal PS5 delivery routes.”
Although Sony had previously stated that it intended to ship nearly 15 million PlayStation 5 units in FY2022, the company fell about 3 million units short of that goal. However, demand for the PS5 remains high, with most units selling out soon after they become available.
In addition to PS5 sales numbers, the presentation details Sony’s plans for increasing focus on live-service games. Currently, the company’s first-party catalog is comprised primarily of single-player titles (such as Horizon Forbidden West and God of War Ragnarok), while its only live-service game is MLB The Show 22. By FY2025, the company wants to increase its live-service lineup to 12 games. Two of those titles are expected to launch this fiscal year.