- Sony Group Corp's (NYSE:SONY) Sony Interactive Entertainment disclosed the launch of its all-new PlayStationPlus game subscription service in North and South America, offering more flexibility and value for gaming fans.
- The service has one monthly fee and will incorporate its separate cloud gaming platform, PlayStation Now.
- PlayStation Plus subscribers will migrate to the PlayStation Plus Essential tier with no additional payment and get cloud streaming access until their existing subscription expires.
- Sony will also launch the service in 11 markets in Eastern Europe, covering 30 markets' access to cloud streaming.
- The updated subscription service will likely make PlayStation Plus a better competitor against Microsoft Corp's (NASDAQ:MSFT) Xbox Game Pass, the TechCrunch reports.
- Sony claimed a more extensive game catalog and higher-priced subscription plan would have access to time-limited game trials and more benefits.
- JP Morgan forecasts the gaming-market size to hit $360 billion by 2028 and music streaming to reach $55 billion by 2025.
- JP Morgan expects Apple Inc's (NASDAQ:AAPL) gaming and music offerings to likely jump 36% to $8.2 billion by 2025.
- Price Action: SONY shares closed lower by 4.69% at $83.93 on Monday.
- Photo by Macro Verch via Flickr
