2024 is a historic year for Sony with the success of the PlayStation 5 (PS5) setting the highest sales record in the history of its latest generation console. According to Sony's latest financial report, the PS5 managed to sell 9.5 million units in the last quarter of 2024 (October–December), exceeding market expectations and recording a 37% growth in Sony's gaming business compared to the same period the previous year. Total PS5 sales until the end of December 2024 reached 75 million units , approaching the sales record of its predecessor, the PS4, which sold 76.5 million units in the same life cycle phase. This article will review the driving factors for this success, its impact on the gaming industry, and the future prospects of the PS5.
PS5 Sales Record, Amazing Numbers
In the last quarter of 2024, Sony recorded 9.5 million PS5 units sold , making it the best quarter since the console's launch in 2020. This figure is even higher than the third quarter of 2023 which only reached 8.2 million units. This spike was also driven by the launch of the PS5 Pro in November 2024, although Sony did not reveal sales details for the upgraded model.
Interestingly, 42% of PS5 buyers in the quarter were new users who had never joined the PlayStation Network (PSN) before. This shows Sony's market expansion to a wider audience, including players who previously used competing consoles or were even new to gaming.
PS5 Success Boosting Factors
Some of the key factors that keep the PS5 a favorite in the market are:
- PS5 Pro Release : Despite its higher price tag (around $750), the PS5 Pro offers an option for gamers who want higher performance. While Sony doesn’t break out its sales figures, analysts believe the model contributed significantly to the 9.5 million total.
- Holiday Season : The October–December period has always been a golden moment for console sales due to the end-of-year holiday momentum. Sony takes advantage of this with bundling promotions and discounts.
- Active User Increase : PlayStation Network monthly active users (MAUs) jumped 5% to 129 million , with half of them still on PS4. PS4 player migration to PS5 also increased as exclusive games became available.
- Exclusive Game Performance : Astro Bot , the PS5 exclusive that won the 2024 Game of the Year award, sold 1.5 million copies. Meanwhile, Helldivers 2 successfully attracted live-service gamers.
Economic Impact and Sony's Position in the Gaming Market
The success of the PS5 has brought a breath of fresh air to Sony's business. The Game & Network Services (G&NS) segment recorded revenue of ¥1.68 trillion (up 16% from the previous year) and contributed to a 37% increase in operating profit. Sony even raised its annual profit projection by 2% .
On the competitive side, the PS5 now outsells the Xbox Series X|S, which has sold just 28.3 million units . Sony's dominance is further evident with the increase in digital game sales (74% of total software sales) and PlayStation Plus subscriptions rising 20% .
Challenges and Haunting Incidents
Despite its success, 2024 was not entirely smooth sailing for Sony. Some of the challenges faced include:
- PlayStation Network Outage : In January 2025, the PSN service experienced an outage for nearly 24 hours, which Sony called an "operational issue". They provided an extra 5 days of compensation for PlayStation Plus members.
- PS5 Pro Price Criticism : The PS5 Pro's high price is considered less affordable for the general market, although Sony has not revealed whether this has affected sales.
- Reliance on Third-Party Games : Despite the success of exclusive games like Astro Bot , Sony is still dependent on third-party game sales (95.9 million units sold in the quarter).
The Future of PS5, Exclusive Game Releases and Long-Term Strategy
Sony has lined up a number of exclusive games to keep the PS5 momentum going into 2025, including:
- Death Stranding 2: On the Beach
- Ghost of Yotei
- Days Gone Remastered .
In addition, Sony is focusing on developing live-service games and expanding into cloud gaming. The February 2025 State of Play event also announced new games such as Housemarque's Saros , which is scheduled for release in 2026.
With total sales predicted to reach 18 million units by March 2025, the PS5 is expected to surpass the PS4's record in the near future.
Conclusion
The success of the PS5 in late 2024 proves that this console is still the king of the gaming industry. The combination of marketing strategies, exclusive games, and hardware innovations such as the PS5 Pro are the main keys for Sony to maintain its dominance. Despite facing challenges such as competition with the Nintendo Switch 2 and the PSN service crisis, the PS5's prospects remain bright with an interesting game lineup in 2025. For gamers, this is the golden era of PlayStation!
