Sony Group shares soared after Sony Interactive Entertainment said it will increase the prices of PlayStation Plus subscriptions up to 35%, starting September 6th.
According to Bloomberg, Friday in Tokyo le shares of Sony have earned up to 3.4% – the highest for over a month – following the announcement.
Amit Garg, analyst at CLSA extensionsaid the hikes could allow Sony to garner $688 million more in sales and $378 million more in operating profit annually, and could signal more regular price increases in the future.
“This price adjustment will allow us to continue to offer high-quality games and value-added benefits to the PlayStation Plus subscription service,” it said Wednesday. Adam Michel, director of content acquisition and operations at PlayStation. However, no “added value” that the company will offer to subscribers has been disclosed.
Not only PS Plus increases in price
It’s not just PS Plus that’s increasing in price this year. Many other subscription services – and not just gaming ones – have seen price increases and reformulations. Xbox Game Pass added the Core tier which replaces Live Gold and raised the prices.
Netflix has revised the costs of its subscriptions and added versions with advertising. Disney Plus has also increased its prices and added more subscription tiers.
#increases #price #Sonys #shares #rise #analysts #expect #price #increases