An extreme PS Plus price hike has PlayStation fans talking about a Sony (NYSE:SONY) boycott on social media!
During its latest blog post for PS Plus members, Sony revealed that a price hike will see the cost of its subscription service increase starting in September. Here’s the new 12-month PS Plus price players will have to pay starting on Sept. 6.
- PlayStation Plus Essential 12-Month Subscription — Increasing from $59.99 to $79.99.
- PlayStation Plus Extra 12-Month Subscription — Increasing from $99.99 to $134.99.
- PlayStation Plus Premium 12-Month Subscription — Increasing from $119.99 to $159.99.
According to Sony, these price hikes are part of the company’s efforts to bring “high-quality games and value-added benefits,” to PS Plus. However, PlayStation owners are unhappy with the news and are expressing their anger with the company online.
What The PS Plus Price Hike Means For SONY Investors
Considering the calls to boycott Sony and a high number of users saying they will cancel their subscriptions, investors will want to keep an eye on the company’s subscription data when earnings come out.
Or at least they would, but Sony revealed earlier this month that it would no longer report PS Plus subscriptions in its earnings calls. The company last reported PS Plus subscriber numbers in March 2023 and doesn’t appear to have any plans to discuss them in future conference calls.
SONY stock is up 1% as of Thursday morning and is up 8.6% since the start of the year.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
