Sony CEO Just Sold over Half His Stock
3 hours ago
- #Stock Sales
- #Physical Media
- #Sony PlayStation
- Sony's PlayStation will stop physical disc manufacturing in 2028, moving to digital-only.
- Sony CEO Hiroki Totoki sold 56% of his stock after the announcement, netting $4.7 million.
- Fans are protesting by canceling PS Plus subscriptions and signing petitions (over 237,000 signatures).
- Developers like Baldur's Gate 3 support physical media despite low profit margins.
- Sony's stock value increased post-announcement, remaining stable despite backlash.
- Experts believe backlash won't significantly impact Sony due to higher profits from digital sales.
- Major upcoming PS5 releases (Marvel's Wolverine and GTA 6) may boost console sales.