A recent data deep dive showed a slump in the sales of PlayStation first-party titles from FY2020 to FY2024. The company experienced a peak in first-party software sales around 2020, when it hit 58.4 million within 12 months. What followed was a steady decline.
Between 2020 and 2024, PlayStation’s first-party title sales slumped by 30 million copies. In FY2024, the company only sold around 29 million first-party titles. This decline is blamed on a poor release slate and massively underperforming games like Concord.
A study published by Stephen Totilo on Game File showed the financial performance of PlayStation’s first-party titles in the last six years. The number of first-party titles sold from 2018 to 2025, as culled from the graph in the report, is as follows:
- FY2025: 32.1 million
- FY2024: 28.9 million
- FY2023: 39.7 million
- FY2022: 43.5 million
- FY2021: 43.9 million
- FY2020: 58.4 million
- FY2019: 49.2 million
- FY2018: 54.1 million
One thing is clear from the studies: for PlayStation to keep selling over 40+ million copies of first-party titles in each financial year, it must aim to release between 3 and 4 titles. For example, the spike in FY2020 was mostly driven by the launch of the PS5 console, alongside the release of Spider-Man: Miles Morales, The Last of Us Part II, and Ghost of Tsushima.
Another unlikely factor that might have contributed to the all-time-high numbers recorded in FY2020 is COVID-19. The global lockdown that followed confined people to their homes, leading to a spike in entertainment consumption.
The cause of the sharp decline in PlayStation sales in FY2024
PlayStation president and CFO Hiroki Totoki
The massive dip in first-party software sales recorded in FY2024 is not unconnected to the statement made by PlayStation president and CFO Hiroki Totoki on February 14, 2024. During an earnings call, Totoki said that Sony had no plans to release any “major existing franchise titles” (such as God of War or Spider-Man) before April 2025.
The statement, combined with a cut in PlayStation 5 sales forecasts, caused Sony’s stock to shed around $10 billion. The 28.9 million copies of first-party title sales, which is roughly a 50% dip compared to the FY2020 high, is the direct outcome of those events.
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The numbers recovered slightly in FY2025, following the release of Death Stranding 2 and Ghost of Yotei. In recent years, PlayStation has acquired several studios in an attempt to break into the live-service scene. Most of the investments have not materialized, and have cost the company millions—if not billions—of dollars.
For example, Sony acquired Bungie in 2022 for $3.7 billion. The company’s financials in May revealed that the Bungie buyout led to an impairment loss of around $765 million. Last month, Bungie revealed that Destiny 2 will get its final update on June 9, so that the studio will focus on Marathon. However, Marathon is not doing well either.
All eyes are fixed on the PlayStation State of Play today to see what else the giant has in store besides Wolverine. Sony needs a strong lineup to drive sales back up, which makes today’s State of Play feel more like a make-or-break event.
