Playstation going beyond its frontiers 2023

Abstract

Sony PlayStation is recognized as a global leader and digital entertainment company owned by the Japanese multinational Sony. It has delivered innovation through time in the console gaming sector industry since the launch of the original PlayStation in 1994, with a market share of the console gaming industry of 45%, hitting 30 million PS5 sales in 2022. however, it exists in the post-pandemic year 2022-2023, a worldwide downtrend in the console gaming market consumer behavior that makes PlayStation lose game sales and has unstable subscribers, and it is estimated to persist on time for different reasons such as supply chain issues, intense competition, strategies through Merger and acquisitions offering more attractive games in diverse platforms (M&A) this pattern has created new challenges and threats to Jim Ryan Sony interactive entertainment (SIE) CEO, despite its continue to dominated the console market, secondary data shows that the company is decreasing the sales of its games during the fiscal year 2022 of 264.2 million a drop of 39 million compared to the previous year and even its main competition Microsoft has taking it some market share, making the console video game market trending downward and upward the PC and mobile games.Therefore, as a strategic plan, CEO Jim Ryan December 2022 has created a future strategic plan to capture more customers and expand its ecosystem in the cross-platform sector; it has decided to develop more computer and mobile games content projects since the market trend is becoming more popular in these markets the main question is, it is a proper strategy to PlayStation shift its resources on these markets, or it must concentrate its resources in developing more PS5 games? What other alternative can Sony do? It is reasonable for Sony to compete in the mobile market.

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