Sony Interactive Entertainment Names New CEOs; FY2023 and Q4 Results Detailed
With Jim Ryan now out of the Sony Interactive Entertainment (SIE) CEO seat, Sony has now named two CEOs that will handle the reins of the PlayStation division, and they are Hideaki Nishino, the CEO of SIE’s Platform Business Group, and Hermen Hulst, the CEO of SIE’s Studio Business Group.
The appointing was announced today as part of Sony’s quarterly financial report, and the two new CEOs will take their seat effective June 1, 2024. Hiroki Totoki, the current interim CEO of Sony Interactive Entertainment, will server as chairman of SIE in addition to his role as president, Chief Operating Officer and Chief Financial Officer of Sony Group Corp. Both Nishino and Hulst will be reporting directly to Totoki.
Read on for the press release statements about both the two new CEOs.
Hidaeki Nishino
Nishino is currently senior vice president, Platform Experience Group, and leads the team responsible for developing the experiences and technology within PlayStation products and services. The Platform Experience Group pushes the boundaries of play in many ways, including the innovations in PlayStation 5, the immersiveness of PlayStation VR2, and connecting millions of people on PlayStation Network. In his new capacity as CEO of the Platform Business Group, Nishino will continue to be responsible for technology, products, services, and platform experience. He will also oversee third-party publisher and developer relations and commercial operations, including sales and marketing of hardware, services, and peripherals.
“We will continue to connect players and creators through world-class products, services, and technology,” said Sony Interactive Entertainment senior vice president, Platform Experience Group, Hideaki Nishino. “We always strive to grow our community even bigger with innovation in every area at Sony Interactive Entertainment. I am honored to be appointed such an important role alongside Hermen. By working more closely together, we will be positioned to build incredible experiences for an ever-expanding audience now and in the future.”
Hermen Hulst
Hulst is currently serving as senior vice president and head of PlayStation Studios, and responsible for developing content across many devices including PlayStation consoles and PCs and bringing video game intellectual property to new mediums such as film and television through PlayStation Productions. The PlayStation Productions team is working on several game adaptations and developed the Emmy award winning television series, The Last of Us, an adaptation from an award winning game. In his new role as CEO of the Studio Business Group, Hulst will be responsible for the development, publishing, and business operations of Sony Interactive Entertainment’s first party-content.
“I am thrilled to lead the studio business group and continue to build on our success with PlayStation 5, while preparing for the future,” said PlayStation Studios senior vice president and head Hermen Hulst. “The video game industry is one of the largest entertainment industries in the world and has been built on the marriage of content and technology, and I look forward to continuing to push the boundaries of play and entertainment.”
Aside from the announcement of two new CEOs, Sony has also released their data on the fourth quarter FY2023 results.
▪️Annual revenue was up +17% to record $29.8B
▪️Software sales were up +24% at $14.1B
▪️4.5M PS5s sold in Q4 (-29% from PlayStation’s all-time Q4 record of 6.3M the previous year)
▪️20.8M PS5s sold during FY23 (up +9% over FY22)
▪️It’s a narrow miss on the revised 21M forecast, but a record year for PS5
▪️Lifetime PS5 sales are now at 59.3M, nearly equal to PS4 launch aligned (800K less)
▪️Profits rose, with operating income +$868M in Q4 (up +172% over Q4 FY22)
▪️Operating income was at +$2B in FY23 (+16% increase over FY22)
▪️118 million monthly active PSN users as of March 31, 2024 (up +9.25% over FY22)
▪️Forecasting 18M PS5 console sales for FY24, with higher operating profit (ending April 2025)
▪️They don’t expect sales increase from first party in FY24, but do for FY25/26, meaning expect major first party titles to launch from April 2025 onwards
▪️Sony says they will invest the most into the Music segment, followed by PlayStation
▪️Sony Group has also set aside $11.5B for investment/acquisitions over next few years (read: for the company)
In related PlayStation news, Sony has teased that an event is incoming later this month where we will learn more about the “long-term” vision of the PlayStation division. Also part of today’s financials report, Sony has confirmed that Helldivers 2 has now reached over 12 million unit in sales across PS5 and PC.
[Source: Sony (thanks, Shinobi!)]
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