This surge in hardware sales has driven the company’s growth across the board.
Even though the hardware market has been sluggish, the PlayStation 5 is still going strong.
Demand is steady, and Sony has blown past expectations with third-party software sales.
The PlayStation connection also beat expectations, hitting 129 million monthly active users up 10 percent from last year.
PlayStation Plus growth helped to keep recurring revenue from services solid.
The shift to live services and digital games is also helping Sony maintain the lead in the gaming sector.
However, it’s not all about gaming.
Sony Music is doing well, with streaming revenues climbing and some major albums making waves.
Conversely, Sony Pictures took a hit.
The Hollywood strikes in 2023 caused production delays and fewer big releases in FY2024, so revenue dropped.
Thankfully, streaming and licensing deals helped ease the pain.
Sony’s Imaging & Sensing Solutions segment is holding steady.
Looking ahead, Sony is optimistic.
If everything goes according to plan, PlayStation will keep running the show through at least this generation.
