In a world where disruption is becoming the norm, the streaming wars have seen many competitors enter into the fray. Now an announcement has been made by Sony Interactive Entertainment that the company will discontinue its PlayStation Vue service on January 30, 2020. Sony has decided, as competition is about to heat up even further, that it will focus on its core gaming business.
According to Sony’s announcement, new trial and paid subscriber sign-ups will be deactivated in the near future. The discontinuation notice said that its active paid subscribers will receive their final charge for PlayStation Vue in December 2019 if they have not cancelled their service prior to their billing date. Sony also noted that its active subscribers will receive access to the Vue service through January 30th, 2020.
The move toward cord-cutting has been more than a decade in the making, and in recent years the internet speeds have finally caught up to where all those media conversion conversations of the late-1990s was possible.
The PlayStation Vue service did not require an actual console, but service plans currently offered were starting at $49.99 per month. The ‘Core plan’ cost $54.99 per month and the service could add in Epix and FX for the ‘Elite’ service at $64.99 and the ‘Ultra’ service would add in channels like HBO and Showtime for a total of $84.99 per month.
This service was launched in March of 2015, but it appears to have peaked at well under the 1 million subscriber mark and more recent figures have not been seen in some time.
At a time when Netflix is about to duke it out with the upcoming Disney+ service and the Apple launch, along with about a dozen other over-the-top in-home media offerings, this just clears out one more player from the pack.
The move has had very little impact on Sony shares, with its New York-listed ADSs closing up 0.3% at $59.26 on Tuesday. Sony still has close to a $73 billion market value.