It is under Eric Lempel’s stewardship that the PlayStation 5 (PS5) launched. It soon ran into serious supply chain problems due to an emerging, worldwide chip shortage. Although all these challenges seemed to swallow the console whole, it went on to be a phenomenal success, selling over 84 million units globally. After three years, the safe supply issues do finally appear to be abating. At the moment, industry insiders and executives are buzzing with what exactly this means for the future of console and what new hardware may come.
Lempel conceded that the PS5 has had a bumpy start, but added that it is “hitting its stride right now.” The supply chain resolution, however, appears to have solidified PlayStation’s dominance of the market. Consequently, it has struggled to catch up to the sales of Microsoft’s Series X and S consoles. Given that major, cutting-edge games are still being released for the platform, this success is nothing short of miraculous.
The PS5, on the other hand, is approaching its fifth birthday. Lempel is well aware that it still hasn’t dropped the big bang for its buck—its top seller. He hinted at exciting developments on the horizon, stating, “I’m not gonna tell you which one, but I think it’s still to come.” The anticipation for these new titles is already incredible. That excitement has only increased since Astro Bot, a PlayStation 2024 exclusive, took home Game of the Year honors at last week’s Game Awards.
As industry expert Christopher Dring explained, the dynamics of game development have changed significantly. He noted that developing worlds this detailed for platforms such as the PS5 is taking more time than ever before. “Games are taking so much longer to make that, in some cases, their development schedules are longer than it takes for new hardware to come out,” he explained. This new reality could help explain why consoles such as the PS5 are sticking around longer than their forebears.
Gamers have proven naysayers wrong time and again, not only in their desire to play other genres and other titles. Dring observed that players are engaging with a broader variety of games, stating, “On average, people are playing 50% more games than they did last generation.” Gamers enjoy playing big blockbuster titles, but they are just as excited to play something different or more niche. They’re getting out of their shells and having new experiences!
Outside of tackling game development timelines and player engagement, Lempel touched upon PlayStation’s constant willingness to pursue innovative avenues. He emphasized that “we’re always about new innovation in the category,” reinforcing the company’s dedication to evolving gaming experiences.
…And meet the PlayStation Portal, Sony’s new device specifically for game streaming on the PS5. As it stands, it doesn’t allow for game downloads directly onto the device. Lempel made it clear that the Portal is “doing really well. In fact, it has most definitely exceeded expectations in the best sort of way—by consumers loving it.
He noted that Nintendo’s new Switch 2 has brought this phenomenon to life, already moving 10 million units in the first few months of its release. That intense competitive landscape has served to heighten the need for continued momentum in hardware sales and third-party game development.
Gamers are playing more diverse types of games. At the same time, PlayStation is poised to introduce some exciting new innovations, setting the stage for a new future of the increasingly popular console. With several high-profile games in development and a strong sales record, the PS5 seems poised to sustain its popularity in a rapidly evolving industry.