A senior Sony executive said the company is seeing growing momentum for its Playstation 5 console, after the tech giant recorded its most successful Black Friday ever for the hardware.
The sought-after four-year-old Sony Playstation 5 console recently reported lifetime sales exceeding 50 million units.
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“Given the momentum we have had in November and a lot of what we are seeing in December, just in general we are feeling very good about sales overall,” said Eric Lempel, senior vice-president for global marketing, sales and business operations at Sony Interactive Entertainment.
Sales in Sony’s gaming sector were the second-biggest contributor to its overall operating profit last financial year, falling just below music.
Lempel claimed the company has done “fewer promotions at this stage of the life cycle than we ever have in the history of the company”.
The gaming software market was worth $197bn in 2021 and will become a $470bn industry by 2030, according to GlobalData estimates.
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By GlobalDataMobile gaming will be the dominant segment, accounting for more than 50% of global gaming software revenues by 2030.
Video games will likely see robust mergers and acquisitions activity in the next five years, according to GlobalData’s Video Games (2022) report.
Key drivers will be the growing need for game publishers to expand their user bases, improve user engagement, create content by incorporating technologies such as AR (augmented reality) and diversify monetisation strategies, according to the report.
