Sony's Revenue Per PlayStation User Jumps 59% Since PS4 Era, Analyst Finds

According to Daniel Ahmad, Director of Research and Insights at Niko Partners, Sony is now earning 59% more revenue per active PlayStation user than during the PS4 generation. This translates to an additional $230 spent by the average active user compared to 2018.

Ahmad's analysis, shared in response to a recent interview with Sony CEO Hiroki Totoki about the company's less aggressive PS5 marketing, revealed that average annual revenue per active user has climbed from 23,580 Yen in FY2018 to 37,485 Yen in FY2025, an increase of approximately $230. He noted that while growth has been flat over the past couple of years, the overall increase is 59%.

Breaking down the drivers, Ahmad explained that FY19 (ending March 2020) saw a boost in active users due to COVID-19. Key factors behind the revenue growth include the shift to higher-tier PS+ subscriptions, increased spending on game software and DLC/microtransactions, and higher hardware prices. Essentially, Ahmad suggests Sony doesn't need to aggressively market the PS5 because it's already generating more revenue from its existing user base, especially given the rising costs of consoles.

Sony continues to face criticism from gamers over its decision to phase out disc-based games by January 2028. Meanwhile, Microsoft is offering Xbox players the chance to digitize their physical game collections as its next-gen Project Helix console/PC hybrid approaches.