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Sony Q4 FY3/2024 Financial Results (Jan- Mar 2024) | PS5 HW 4.5m, SW at 72.6m | FY- GN&S sales up by 17% YoY, OI up by 16%

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Q4 sales

Hardware - 4.5M
(-28.6% YoY)
Software - 72.6M (+6.8% YoY)

Q1-Q4 Cumulative sales

Hardware - 20.8M
(+8.9% YoY)
Software - 286.4M (+8.4% YoY)

Other mods feel free to edit if/what I'm missing.
 
Well, the people who didn't upgrade yet are most likely the more price councious players, so the system sellers 3rd party games like GTA and COD finally moving from crossgen should be the time for the Series S to shine at sub $300.

But you can always count on Xbox to find a way to screw themselves up, so who knows.


They have 123M monthly active users and shipped 59M PS5s. I don't know if that counts PC players and multiple accounts using the same PS5 can push it betond 60M there, but I think it's safe to say there are dozens of millions still active on their PS4.
Yeah, I do think there's a major opp here for Series S. But -- I think it's really unlikely they get PS4 players to shift to Series S since we just haven't seen that dynamic play out. Maybe with cross-progression on the black hole games starts to make this less of an issue, but that's a real gamble.

So the profit dynamics of "you sold a console at a loss to one of your current users, but at least you've got them locked in for another 5 years" remain.
 
Great quarter and good year, but the most interesting data will be on the business meeting at the end of the month.
 
Also, I'd be cautious about saying Sony's GAAS push is a success or a disaster.

Success: Helldivers 2 was enormously successful and Destiny 2 seems to be in a less precarious position (tho who knows).

Failure:
1. Multiple projects have been cancelled after significant investment
2. We know major GAAS attempts (ETA: across the industry) have flopped in part because people are locked into existing GAAS games from years ago (not just Fortnite, Roblox -- but Elder Scrolls Online, Sea of Thieves, Fallout 76, etc.)
3. Their announced bets are all in the very crowded shooter GAAS space.
4. They haven't shown anything from their GAAS plays yet. I'm shocked they're still saying Concord's this year tbh.
 
Also, I'd be cautious about saying Sony's GAAS push is a success or a disaster.

Success: Helldivers 2 was enormously successful and Destiny 2 seems to be in a less precarious position (tho who knows).
While HD2 is a surprising success that nobody was counting on, I feel they are resting on their laurels. The game is slowly but surely losing its player base. They needed battle passes/seasons yesterday, and yeah, even Arrowhead was blindsided by its success... but their battle passes have not stopped the decline.

If they want this to be successful for a long time, they have to invest in creating constant content.
 
While HD2 is a surprising success that nobody was counting on, I feel they are resting on their laurels. The game is slowly but surely losing its player base. They needed battle passes/seasons yesterday, and yeah, even Arrowhead was blindsided by its success... but their battle passes have not stopped the decline.

If they want this to be successful for a long time, they have to invest in creating constant content.
I don't play Helldivers 2, but I'm not surprised that a small studio is having trouble holding onto their userbase. We see this time and time again with any of these breakout hits. It's extremely rare that someone is able to capitalize on it like Apex Legends or Sea of Thieves or Fortnite.

That being said, them still having 90k CCU a day on steam is better than I'd expect months after release and they may still turn it around.
 
Sony's GAAS strategy will really be a massive gamble, if they have more Helldivers style hits coming it will increase their revenue and profit margins enormously, but if they make some costly GAAS bombs then their profit margins will be even thinner in the future.
 
I just can't see Sony doing 18m without price cuts if they barely did 21m this year with all the crazy discounts and bundles, huge 1st party games (that this FY won't have), pent up demand from pandemic years, and the fact that it was a younger machine. What is their plan? Can the Pro really do all the heavy lifting being as expensive as it will be? I really doubt it. Wonder if they will miss or lower their forecast.
 
I just can't see Sony doing 18m without price cuts if they barely did 21m this year with all the crazy discounts and bundles, huge 1st party games (that this FY won't have), pent up demand from pandemic years, and the fact that it was a younger machine. What is their plan? Can the Pro really do all the heavy lifting being as expensive as it will be? I really doubt it. Wonder if they will miss or lower their forecast.
I think their predictions is based on Xbox continued collapse, Microsoft games coming more and more to PS5 and GTA 6 coming out on PS5 leading to continued high demand for PS5 this coming fiscal year. They also don't seem to think Switch 2 release will lead to Nintendo taking any customers from Sony the coming FY, which makes sense as hardcore Nintendo fans will be the ones jumping in first when it comes to buying Switch 2.
 
I just can't see Sony doing 18m without price cuts if they barely did 21m this year with all the crazy discounts and bundles, huge 1st party games (that this FY won't have), pent up demand from pandemic years, and the fact that it was a younger machine. What is their plan? Can the Pro really do all the heavy lifting being as expensive as it will be? I really doubt it. Wonder if they will miss or lower their forecast.
They might be factoring in macroeconomic recovery since this would go through the first 3 months of calendar year 2025.
 
I think their predictions is based on Xbox continued collapse, Microsoft games coming more and more to PS5 and GTA 6 coming out on PS5 leading to continued high demand for PS5 this coming fiscal year. They also don't seem to think Switch 2 release will lead to Nintendo taking any customers from Sony the coming FY, which makes sense as hardcore Nintendo fans will be the ones jumping in first when it comes to buying Switch 2.
There is no way GTA 6 comes out this FY, and I doubt Sony would rely on third party games (be it Microsoft or Rockstar) to make their hardware forecast. Switch 2 is also next FY, so I'm not sure how that would be relevant for now.

If their forecast is so reliant on Microsoft, Rockstar and Nintendo... well, good luck for them.
 
I think their predictions is based on Xbox continued collapse, Microsoft games coming more and more to PS5 and GTA 6 coming out on PS5 leading to continued high demand for PS5 this coming fiscal year. They also don't seem to think Switch 2 release will lead to Nintendo taking any customers from Sony the coming FY, which makes sense as hardcore Nintendo fans will be the ones jumping in first when it comes to buying Switch 2.
They can always just update their forecast just like have done this FY where they went from 25 to 20. Hardware trends are not really different for every platform holder. And Switch is not coming in their FY24, unless Nintendo opens pre-orders.

There is no way GTA 6 comes out this FY, and I doubt Sony would rely on third party games (be it Microsoft or Rockstar) to make their hardware forecast. Switch 2 is also next FY, so I'm not sure how that would be relevant for now
Well, reveal of GTA6 gameplay will for sure drive hardware up.
 
That huge focus on GAAS really back fired. Let this be a lesson.
Has it truly backfired when only one GAAS has been released so far and it was an enormous success? Not to say that each following game is going to be as popular, but I find this claim to be a bit disingenuous.
Rise of the Ronin and Stellar Blade aren't big AAA system sellers, but they've been enjoying decent sales so far, much especially in Asia.
 
It backfired in the way that it greatly slowed their development pipeline from some of their core studios, notably Naughty Dog.

Most of the Live Service games have been through new studios though. HD2 pretty much saved them this past quarter though, so even a moderately successful, reduced priced Live Service game without a ton of MTX is enough to turn the tides for them. More so than some of their big single player games

I wouldn’t call that a waste
 
Quoted by: PS2
It backfired in the way that it greatly slowed their development pipeline from some of their core studios, notably Naughty Dog.

Most of the Live Service games have been through new studios though. HD2 pretty much saved them this past quarter though, so even a moderately successful, reduced priced Live Service game without a ton of MTX is enough to turn the tides for them. More so than some of their big single player games

I wouldn’t call that a waste
From which ones, though? Naughty Dog is pretty much the only one (and even that is arguable, I want to know first when their next title is coming out, then we can talk), and you can't really blame the whole initiative on such particular example.
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There is no way GTA 6 comes out this FY, and I doubt Sony would rely on third party games (be it Microsoft or Rockstar) to make their hardware forecast. Switch 2 is also next FY, so I'm not sure how that would be relevant for now.

If their forecast is so reliant on Microsoft, Rockstar and Nintendo... well, good luck for them.
Beyond the last-few-months rumours that are pointing at a March 2025 target for the platform, therefore right at the end of the current Fiscal Year, there has been no indication in either direction from Nintendo / Furukawa about the system's release window.
 
From which ones, though? Naughty Dog is pretty much the only one (and even that is arguable, I want to know first when their next title is coming out, then we can talk), and you can't really blame the whole initiative on such a particular example.
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From which ones, though? Naughty Dog is pretty much the only one (and even that is arguable, I want to know first when their next title is coming out, then we can talk), and you can't really blame the whole initiative on such a particular example.

From their internal or older studios?

  • London Studio - cancelled (closed)
  • Guerrilla - working on two multiplayer games, one assisting NCSoft
  • Naughty Dog - Factions which was cancelled
  • Firesprite - Twisted Metal Cancelled
  • Insomniac - Spider-verse multiplayer game cancelled
  • Bend Studio is working on a multiplayer game
 
Beyond the last-few-months rumours that are pointing at a March 2025 target for the platform, therefore right at the end of the current Fiscal Year, there has been no indication in either direction from Nintendo / Furukawa about the system's release window.
Not sure how this adds to the conversation but go off. We all know the console doesn't have a release date.

Switch 2 is (probably*) [releasing] next FY.

Like that helps PS5 reach 18M. My point still stands.
 
I think it is very unlikely that sports titles will ever go fully next gen since they are making a ton on PS4 and XB1...and we know the Switch 2 / Steamdeck are about at PS4 and PS4 Pro level capability. So, why ever migrate above that esp when you can always scale the graphics higher.
 
From their internal or older studios?

  • London Studio - cancelled (closed)
  • Guerrilla - working on two multiplayer games, one assisting NCSoft
  • Naughty Dog - Factions which was cancelled
  • Firesprite - Twisted Metal Cancelled
  • Insomniac - Spider-verse multiplayer game cancelled
  • Bend Studio is working on a multiplayer game

GG - is working on Horizon Online with the R6 Siege director. Its not their SP Horizon team.
ND - its been said many times, ND has always had a MP team people tend to forget. Factions was largely their MP team. Besides that they have 2 SP teams now and I wouldn't jump to conclusions on it delaying those titles, till one gets announced. ND specifically said they would announce their titles far closer to release now.
Bend - is working on a SP title with MP aspects. Something like Ghost or Elden Ring can fit such a description.
Insomniac - Their SM MP game never went into production, it was a concept phase that did not take much resources.
 
The year is 2024 and they still insist on showing a CGI trailer. Assassin's Creed needs something big to attract attention, not a damn trailer with no gameplay.

2.4M with 5 hours on that video, I don't think they need help to attract attention.
Their cinematic trailer into gameplay trailer shortly after has always worked out for them.
 
GG - is working on Horizon Online with the R6 Siege director. Its not their SP Horizon team.
ND - its been said many times, ND has always had a MP team people tend to forget. Factions was largely their MP team. Besides that they have 2 SP teams now and I wouldn't jump to conclusions on it delaying those titles, till one gets announced. ND specifically said they would announce their titles far closer to release now.
Bend - is working on a SP title with MP aspects. Something like Ghost or Elden Ring can fit such a description.
Insomniac - Their SM MP game never went into production, it was a concept phase that did not take much resources.

All that stuff still takes resources. Naughty Dog specifically said they couldn’t progress with their multiplayer game because it would have robbed the studio of too many resources to continue their single player pipeline the way its set up now.

No matter what multiplayer/live service requires a lot of support to keep it going.
 
When do sports titles typicall transition, the last couple of years into the current gen?

2025 will be last year for PS4/XBOne ports of sports games. For COD, 2024 will be last time it get ported to PS4.

All that stuff still takes resources. Naughty Dog specifically said they couldn’t progress with their multiplayer game because it would have robbed the studio of too many resources to continue their single player pipeline the way its set up now.

No matter what multiplayer/live service requires a lot of support to keep it going.

I don't buy that excuse. Maybe what ever they were working on didn't come through or pass Bungie test.
 
2025 will be last year for PS4/XBOne ports of sports games. For COD, 2024 will be last time it get ported to PS4.



I don't buy that excuse. Maybe what ever they were working on didn't come through or pass Bungie test.

How many studios of ND’s size currently have both a successful on-going live service title and are still releasing AAA games? I honestly can’t think of any, especially none of the level of ND budgets

Rockstar put out Red Dead Redemption 2 but their single player games are pretty much dead outside of that and GTA. Also, Rockstar is like 4-5x’s the size of ND
 
From their internal or older studios?

  • London Studio - cancelled (closed)
  • Guerrilla - working on two multiplayer games, one assisting NCSoft
  • Naughty Dog - Factions which was cancelled
  • Firesprite - Twisted Metal Cancelled
  • Insomniac - Spider-verse multiplayer game cancelled
  • Bend Studio is working on a multiplayer game
London, Firesprite and Bend are not core studios, Guerrila hasn't had any pipeline issues so far (MP game started development around 2019 and they still managed to get HFW out in a reasonable timeframe considering pandemic slowdown; NCSoft project or DS2 for that matter aren't affecting any of their resources, time and expertise, both are handled by SIEJ), and Insomniac cancelled a GAAS and yet they still had a pretty optimistic roadmap.
It has not gone as smoothly as one could have hoped, but it didn't backfire at all.
 
When do sports titles typicall transition, the last couple of years into the current gen?
2025 will be last year for PS4/XBOne ports of sports games. For COD, 2024 will be last time it get ported to PS4.
The last FIFA on PS2 was FIFA 14 in 2013 and
The last FIFA on PS3/360 was FIFA 19 in 2018.
Given that PS4 is much more resilient than PS3 I think FIFA/EA Sports FC can last longer than on PS3.

The last COD on PS3/360 was Black Ops III in 2015.
So if COD 2024 have still PS4/XB1 skus it will have last 2 years longer.

For Assassin's Creed the last one on PS3/360 was Assassin's Creed Rogue in 2014.
So this franchise drop old gen faster than COD/FIFA.
 
The last FIFA on PS2 was FIFA 14 in 2013 and
The last FIFA on PS3/360 was FIFA 19 in 2018.
Given that PS4 is much more resilient than PS3 I think FIFA/EA Sports FC can last longer than on PS3.

The last COD on PS3/360 was Black Ops III in 2015.
So if COD 2024 have still PS4/XB1 skus it will have last 2 years longer.

For Assassin's Creed the last one on PS3/360 was Assassin's Creed Rogue in 2014.
So this franchise drop old gen faster than COD/FIFA.

I don't know the status of the sales for PS4 and xbox sports but with how healthy EA Sports FC are on the Switch I would assume that there is a chance for FC to hang around for a while on PS4.
 
I don't know the status of the sales for PS4 and xbox sports but with how healthy EA Sports FC are on the Switch I would assume that there is a chance for FC to hang around for a while on PS4.
https://store.playstation.com/en-us/pages/browse/1?PS4=targetPlatforms

Four best-selling PS4 games right now are Call of Duty, FC, The Show, and Madden. Can't easily separate out platforms on Xbox's most played list, but Madden (XB1), The Show (XB1) and FC (XB1) are all on there.

We also know both platforms are at engagement highs and given neither current-gen platform has replaced last-gen fully...they must be material amounts of players. Now maybe all those players aren't spending (which would seem unlikely), but especially in the midst of economic uncertainty and even 1st party explicitly talking about how to go to multiple platforms and get more audiences...would be extremely surprising to me that EA or Activision would cut off players.

This is all doubly so when we know that portable platforms are not (and in case of Nintendo, highly likely not) meaningfully above last-gen performance. In fact, it seems highly likely the Jedi Survivor port back to XB1 and PS4 is teeing up a Switch 2 port.

So, why cut off potentially tens of millions of players right now esp. when you know there's another audience coming online at similarish hardware levels?

ETA:
"Earlier this week, Sony made headlines for PS5 reaching 59 million units sold. Good number!Sony says PS5 is in the 2nd half of its lifecycleSony also said PlayStation has 118 million monthly active users--half still on PS4Get that? HALF of PS players aren't on current gen.

Quote from Sony president Hiroki Totoki from Tues. (via Sony translator): 'Cumulative [PS5] sales is 59 million units or plus. Compared to MAU, still, about half of the people are playing on PS4. So, console generation overlap will be handled well and MAU will steadily increase'"

ETA: I also bet Xbox is kicking themselves that Sea of Thieves isn't on PS4 esp. if that means it might not be on Switch 2...
 
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https://store.playstation.com/en-us/pages/browse/1?PS4=targetPlatforms

Four best-selling PS4 games right now are Call of Duty, FC, The Show, and Madden. Can't easily separate out platforms on Xbox's most played list, but Madden (XB1), The Show (XB1) and FC (XB1) are all on there.

We also know both platforms are at engagement highs and given neither current-gen platform has replaced last-gen fully...they must be material amounts of players. Now maybe all those players aren't spending (which would seem unlikely), but especially in the midst of economic uncertainty and even 1st party explicitly talking about how to go to multiple platforms and get more audiences...would be extremely surprising to me that EA or Activision would cut off players.

This is all doubly so when we know that portable platforms are not (and in case of Nintendo, highly likely not) meaningfully above last-gen performance. In fact, it seems highly likely the Jedi Survivor port back to XB1 and PS4 is teeing up a Switch 2 port.

So, why cut off potentially tens of millions of players right now esp. when you know there's another audience coming online at similarish hardware levels?

ETA:
"Earlier this week, Sony made headlines for PS5 reaching 59 million units sold. Good number!Sony says PS5 is in the 2nd half of its lifecycleSony also said PlayStation has 118 million monthly active users--half still on PS4Get that? HALF of PS players aren't on current gen.

Quote from Sony president Hiroki Totoki from Tues. (via Sony translator): 'Cumulative [PS5] sales is 59 million units or plus. Compared to MAU, still, about half of the people are playing on PS4. So, console generation overlap will be handled well and MAU will steadily increase'"

ETA: I also bet Xbox is kicking themselves that Sea of Thieves isn't on PS4 esp. if that means it might not be on Switch 2...


Thanks for the information. I think what I tried to say is that there is also plenty of active Switch users. Many of them will not make a quick transfer to Switch 2 (whenever that is launched). If EA can do a Switch edition a PS4 edition most be quite easy? Meaning even if the active base for PS4 would much smaller it would make sense to make a PS4 version
 
Thanks for the information. I think what I tried to say is that there is also plenty of active Switch users. Many of them will not make a quick transfer to Switch 2 (whenever that is launched). If EA can do a Switch edition a PS4 edition most be quite easy? Meaning even if the active base for PS4 would much smaller it would make sense to make a PS4 version
Ah gotcha. We're aligned then that continuing to support PS4 makes a ton of sense for the foreseeable future.

To my understanding, the Switch 1 version of FC is a fully different codebase...basically just the old 360 code with a roster change each year? Not sure as I don't play much on Switch these days and never played FIFA / FC.

But your and my point still stands: Everyone's searching for more players and there is tons of evidence that
1. Significant portion of the playerbase is on last-gen
2. Significant portion of the PC and console market wants lower-end hardware that's portable
3. And globally, there's still a lot of PCs that aren't super cutting edge

So especially for live service (the vast majority of $ and player time), there's no reason to cut off platforms.
 
https://store.playstation.com/en-us/pages/browse/1?PS4=targetPlatforms

Four best-selling PS4 games right now are Call of Duty, FC, The Show, and Madden. Can't easily separate out platforms on Xbox's most played list, but Madden (XB1), The Show (XB1) and FC (XB1) are all on there.

We also know both platforms are at engagement highs and given neither current-gen platform has replaced last-gen fully...they must be material amounts of players. Now maybe all those players aren't spending (which would seem unlikely), but especially in the midst of economic uncertainty and even 1st party explicitly talking about how to go to multiple platforms and get more audiences...would be extremely surprising to me that EA or Activision would cut off players.

This is all doubly so when we know that portable platforms are not (and in case of Nintendo, highly likely not) meaningfully above last-gen performance. In fact, it seems highly likely the Jedi Survivor port back to XB1 and PS4 is teeing up a Switch 2 port.

So, why cut off potentially tens of millions of players right now esp. when you know there's another audience coming online at similarish hardware levels?

ETA:
"Earlier this week, Sony made headlines for PS5 reaching 59 million units sold. Good number!Sony says PS5 is in the 2nd half of its lifecycleSony also said PlayStation has 118 million monthly active users--half still on PS4Get that? HALF of PS players aren't on current gen.

Quote from Sony president Hiroki Totoki from Tues. (via Sony translator): 'Cumulative [PS5] sales is 59 million units or plus. Compared to MAU, still, about half of the people are playing on PS4. So, console generation overlap will be handled well and MAU will steadily increase'"

ETA: I also bet Xbox is kicking themselves that Sea of Thieves isn't on PS4 esp. if that means it might not be on Switch 2...

Comparing MAU to console sales makes no sense. For example, I have my Uruguayan account I play games on, and an US account I use to buy games; that's 2 MAU but 1 console sale. There's also all the people who share their console with their family or friends.
 
To my understanding, the Switch 1 version of FC is a fully different codebase...basically just the old 360 code with a roster change each year?
This was the case up until last year's EA Sports FC24 when the Swutch version was upgraded to be the same as the PS4/XBO versions, albeit with lower resolution/frame rate.
 
This was the case up until last year's EA Sports FC24 when the Swutch version was upgraded to be the same as the PS4/XBO versions, albeit with lower resolution/frame rate.

Which is why I brought Switch up. I would assume that if you have a code base that works on Switch it would not be that hard to support PS4 if the users is still somewhat active.
 
Comparing MAU to console sales makes no sense. For example, I have my Uruguayan account I play games on, and an US account I use to buy games; that's 2 MAU but 1 console sale. There's also all the people who share their console with their family or friends.
Yeah, but I think it is like 10 percent at best
 
Which is why I brought Switch up. I would assume that if you have a code base that works on Switch it would not be that hard to support PS4 if the users is still somewhat active.
Irregardless of the existence of the Switch version, EAFC/FIFA still makes a ton of money on PS4 and will therefore will continue to release on PS4 until that's no longer the case.
 
Sony themselves are still supporting last gen sports with MLB, despite the rest of their studios moving to current gen only last year.

Looking at past MLB games PS1 support went though 2005, PS2 went through 2011 and PS3 went through 2016.
 
Quoted by: PS2
I don't know the status of the sales for PS4 and xbox sports but with how healthy EA Sports FC are on the Switch I would assume that there is a chance for FC to hang around for a while on PS4.

Last year in France EA Sports FC 24 sold 241k on PS4 (retail only).
In 2016 FIFA 17 only sold 156k on PS3.

In Spain maybe the gap between EA Sports FC 24 PS4 and FIFA 17 PS3 is even bigger.
 
I keep reading doom about the PS5 tracking slightly behind PS4 launch aligned... but honestly, I see it as quite remarkable for them to keep up the pace with a time when they were basically playing alone in the console space.

For them to be so close when the Switch is in the picture is very impressive.
 
I keep reading doom about the PS5 tracking slightly behind PS4 launch aligned... but honestly, I see it as quite remarkable for them to keep up the pace with a time when they were basically playing alone in the console space.

For them to be so close when the Switch is in the picture is very impressive.

Well the PS5 is making more money than the PS4 so thats probably what they really care about
 
GTA6 is fall 2025. 18m might be tougher than expected for this FY.


"Our outlook reflects a narrowing of Rockstar Games' previously established window of Calendar 2025 to Fall of Calendar 2025 for Grand Theft Auto VI."- Take Two Call
 
GTA6 is fall 2025. 18m might be tougher than expected for this FY.


Between the Switch 2 and GTA VI, FY26 is going to be insane. It, as well as CY2025, will be hailed as the year that saves gaming by many. Well, as long as Rockstar actually commits to the date and doesn't delay it like they normally do.

Just gotta get through 2024.
 
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