An article published by The New York Times revealed that Sucker Punch Production’s Ghost of Tsushima has sold more than five million copies since its debut in July 2020, and Sony Santa Monica Studio’s God of War franchise has sold over 51 million copies since its inception.
Much of the article focuses on Sony’s journey from being the manufacturer behind popular household devices to being recognized for its entertainment business, driven by PlayStation’s success. It contains a lot of interesting tidbits of information, including PlayStation 5 sales forecast.
According to Tokyo-based Citigroup analyst Kota Ezawa, Sony could be making a loss of as much as $100 for each PS5 sold initially. However, the same can be said for Microsoft because it’s normal practice for companies to sell new hardware at a loss until they achieve production efficiency.
Sony’s Chairman, President, and CEO Kenichiro Yoshida has told Wall Street analysts that the company is focused on financial efficiency rather than revenue growth and market share. Sony understandably needs to make money to survive, but Yoshida believes that increasing profit is merely a “target,” not a “purpose.”
“Increasing profit is not our purpose,” said Yoshida, according to a quote provided by the NY Times. “Our purpose as a company is to fill the world with emotions through creativity and technology. Profit is a target. Target is different than purpose.”
Ezawa added that “entertainment, led by gaming, is Sony’s new face” and driver of growth. “There has been a clear statement and direct change in direction by Ken Yoshida to move Sony from a traditional electronics business of selling boxes to a business selling entertainment,” he concluded.
Ampere Analysis’ Piers Harding-Rolls expects the PS5 to sell five million units this year, whereas the Xbox Series X/S is expected to sell 3.9 million units.
The full article is a great read so make sure to check it out.
[Source: NY Times]