Sony’s Stocks Surge After Raising PlayStation Plus Prices

Sony’s Stocks Surge After Raising PlayStation Plus Prices

Sony’s ⁤stocks surged after raising⁢ the prices of their PlayStation Plus ⁣subscription service due ‍to​ the strong demand from gamers. The stock‍ was up by​ over 12% on Tuesday ⁤after the announcement‌ that the‌ company will increase the monthly‌ fee for its PlayStation Plus subscription from $9.99‍ to $11.99 in the United States from September 22nd.

According to reports, Sony expects the price increase to generate additional income of around $2.2 billion for the company’s fiscal year ending March 2021. Sony will also‍ offer two additional levels⁣ of⁣ service, called ​Ultra and Ultimate, which will be available for $14.99 and $19.99⁤ respectively.

The news of the price increase ⁢sent stocks up on ‍Tuesday, with the ​stock ​soaring by 12.25%, which is the biggest one-day gain since April 2019. Sony’s market value has nearly tripled since the launch of its PlayStation 5 console in November last year.

The price increase‌ is ⁢expected to help⁤ Sony generate more revenue from its ​subscription service, which is already one of its most profitable businesses. PlayStation Plus subscribers have access to a range of online gaming services, including multiplayer gaming and ⁢access to exclusive ​offers and discounts on new and‌ upcoming games.

Sony is not the only company to increase its prices‍ for subscription services⁢ recently. Microsoft also recently announced ⁢an increase in its Xbox Live Gold subscription, while streaming services such ‍as Netflix and Hulu have⁤ been increasing their‌ prices as well.

The surge in Sony’s stocks is a sign ⁣of the strong demand for their products‍ and ⁤services and‍ shows that consumers are willing to pay a bit more for ⁢access⁤ to exclusive content, ⁢discounts, and the best gaming experiences on the market.

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