Sony planning to sell off PlayStation Vue TV streaming service for losing money

The PlayStation Vue TV streaming service had hiked the subscription prices by $5 in July this year.

Sony is considering to sell off its PlayStation Vue TV streaming service. It was one of the first subscription TV services to launch and currently, it has about 500,000 subscribers.

 Sony planning to sell off PlayStation Vue TV streaming service for losing money

Journalists wait for Sony Corp's President and Chief Executive Officer Kenichiro Yoshida. Image: Reuters

The Information came out with a report stating that Sony is losing money on the service to keep its underlying technology running. It hasn’t been able to turn a profit since it launched in March 2015. Compared to rival streaming services, PlayStation Vue doesn’t have a vast or unique content library to retain or bring in new subscribers.

The Verge reported that PlayStation Vue comes with some unique features such as watching four streams simultaneously on a single screen. However, this is only possible on the Apple TV and trying to do the same on the PlayStation 4 reduces the limit to three streams.

Things will heat up in the video streaming service market as more big players launch their own services next month including Disney+ and Apple TV+. HBO Max is also set to launch next year bringing all of the properties under AT&T including HBO, DC Entertainment, Warner Bros. and many more under one service.

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