August 9th 2024.
The PS5 may be an incredibly fast console, but it's not quite matching up to its predecessors in terms of sales. Sony's latest gaming system has taken the UK by storm, becoming one of the fastest-selling consoles in the country. However, it still falls behind the impressive sales of the PS4 and Wii.
While the PS5 continues to outsell its competitor, the Xbox Series S/X, its sales have started to decline in recent months. Sony reported a total of 61.7 million consoles sold, but only 2.4 million were sold in the last quarter compared to 3.3 million in the same period last year. This may seem like a drop, but it's important to note that the PS5 has now reached a major milestone in the UK, with 4 million units sold.
It's worth mentioning that the PS5 took longer to reach this milestone compared to its predecessors. According to Gfk data, it took 192 weeks for the PS5 to hit 4 million sales, placing it as the fifth-fastest selling console in the UK. The top spots are held by the Wii, PlayStation 2, PS4, and the original PlayStation.
Interestingly, the PS5 has surpassed the sales pace of the Xbox 360 and Nintendo Switch, which took 193 weeks and 203 weeks, respectively. This is a noteworthy achievement, especially considering that the PS5 is priced at £479.99, making it more expensive than the other consoles listed. For comparison, the original PlayStation was under £100 when it reached 4 million sales, and the PS4 was priced at £349 at launch.
According to GamesIndustry.biz, the PS5 has generated a whopping £1.85 billion in revenue, making it the most profitable console for Sony at this point. This is largely due to its higher price point. However, it's important to note that the majority of PlayStation's profits come from software and subscription sales, as well as licensing third-party titles.
It's worth acknowledging that the PS5 has faced some challenges, such as stock shortages due to the pandemic and a limited selection of exclusives. Despite these obstacles, the console has managed to reach impressive sales numbers. However, the lack of first-party exclusives may have contributed to the slowdown in sales over the past year, with only Astro Bot and Death Stranding 2: On The Beach on the horizon, following this month's release of Concord.
Many believe that the lack of first-party exclusives is the main reason for the decline in sales. The only other announced game from Sony is Wolverine, leaving fans eagerly anticipating more exclusive titles. Astro Bot is set to release in September, and readers can stay updated on all the latest gaming news by following us on Twitter, signing up for our newsletter, or leaving a comment below.
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