Sony Group’s shares have now risen following the PS Plus price hike.
Recently, Sony Interactive Entertainment announced that it will raise the PS Plus subscription prices by up to 35 percent starting on September 6, 2023. It is interesting to note that it is only in the US that has a large increase in prices with at least 33 percent for each tier on PS Plus while other countries have it less for some reason.
Now new information shared by Bloomberg revealed that Sony’s shares have gained as much as 3.4 percent in Tokyo, Japan on Friday after the announcement. It is kind of weird since the price hike has been criticized steeply by many fans and PS Plus subscribers. Some are even topping up PS Plus subscription ahead of time before September 6.
According to CLSA Analyst Amit Garg, he stated that the “steep” increases could see Sony reap an additional $688 million of sales and $378 million of operating profit annually and could be a sign of more regular price hikes to come. Yes, there are more price hikes happening.
“This price adjustment will enable us to continue bringing high-quality games and value-added benefits to your PlayStation Plus subscription service,” PlayStation’s director of content acquisition and operations, Adam Michel, recently.
