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An extreme price hike has PlayStation fans talking about a Sony (NYSE:SONY) boycott on social media.
During its latest blog post for PlayStation Plus members, Sony revealed that a price hike will see the cost of its subscription service increase starting in September. Here’s the new 12-month price that players will have to pay starting on Sept. 6.
- PlayStation Plus Essential 12-Month Subscription: Increasing from $59.99 to $79.99.
- PlayStation Plus Extra 12-Month Subscription: Increasing from $99.99 to $134.99.
- PlayStation Plus Premium 12-Month Subscription: Increasing from $119.99 to $159.99.
According to Sony, these price hikes are part of the company’s efforts to bring “high-quality games and value-added benefits” to the subscription service. However, PlayStation owners are unhappy with the news and are expressing their anger with the company online.
What the PlayStation Plus Price Hike Means for SONY Stock Investors
Considering the calls to boycott Sony and a high number of users saying they will cancel their subscriptions, investors will want to keep an eye on the company’s subscription data when earnings come out.
Or at least they would if they could. Earlier this month, Sony revealed that it would no longer report PlayStation Plus subscriptions in its earnings calls. The company last reported these subscriber numbers in March 2023 and doesn’t appear to have any plans to discuss them in future conference calls.
SONY stock is up 1% as of Thursday morning and up 8.6% since the start of the year.
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.