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Benzinga
Benzinga
Technology
Anusuya Lahiri

Sony Heightens Microsoft Xbox Rivalry With Latest Move

  • 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
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