Sony Gains Most Since July After PlayStation Gaming Price Hike
- It raised prices for the PS Plus subscription by about a third
- The move may beef up Sony’s bottom line despite user churn
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Sony Group Corp. rose its most in more than a month after hiking the price of its core gaming PlayStation Plus subscription service by roughly a third, potentially shoring up its bottom line.
The gaming and entertainment giant will now charge as much as $159.99 annually for the premium tier of the popular service, required for multiplayer gaming as well as free downloads. That follows main rival Microsoft Corp., which hiked fees for the similar Xbox Game Pass service over the summer. Sony’s shares gained as much as 3.4% in Tokyo on Friday.