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Sony forecasts 2% decrease in FY 2024 Game & Network Services revenue

The slim decrease in revenue for the segment has been attributed to lower hardware unit sales.

Sam Chandler

May 14, 2024 12:35 AM

Sony

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Earnings report season continues with Sony today forecasting a decrease in its Game & Network Services revenue for its next operating year. The company behind PlayStation 5 predicts a 2 percent decrease in revenue for this sector, though it does anticipate more non-first party sales.

Sony has released its FY 2024 earnings report on May 14, 2024, and within it the company forecasts a decrease in its Game & Network Services revenue. Though it is only a 2 percent decrease, it is a decrease nonetheless. Sony states a “decrease in sales of hardware resulting from lower unit sales” as an element in this decrease. However, the company does not a positive increase in sales of non-first party titles.

This 2 percent decrease is the second decrease Sony has made to its forecast in this area. In its Q3 FY2023 report, it forecast a 5 percent decrease for the rest of its fiscal year. This forecast might also have something to do with the fact that Sony isn’t planning to release any major existing franchise games before April next year. This is quite a large chunk of time without any first-party releases, especially as it covers the holiday period. Despite this, Sony anticipates more third-party sales.

Today’s earnings report also highlighted how the PlayStation 5 has performed. Sony managed to sell another 4.5 million units in Q4 2023, which brings the PS5 lifetime sales to over 59 million units. Sony is apparently also testing PC support for PS VR2, with the feature planned for release this year.

So while Game & Network Services revenue is forecast to decrease next year, there are still plenty of consumers out there picking up a PlayStation 5, and PC gamers getting their hands on PS5 titles. Read over our Sony page for more information on its FY2023 earnings report.

Sam Chandler

Guides Editor

Hailing from the land down under, Sam Chandler brings a bit of the southern hemisphere flair to his work. After bouncing round a few universities, securing a bachelor degree, and entering the video game industry, he's found his new family here at Shacknews as a Guides Editor. There's nothing he loves more than crafting a guide that will help someone. If you need help with a guide, or notice something not quite right, you can message him on X: @SamuelChandler