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Vue started in 2015, offering a subscription in exchange for internet access to TV channels. Sony positioned the service as an alternative to traditional cable. However, competitors like Netflix and YouTube TV have proved to be more popular options.
“Unfortunately, the highly competitive Pay TV industry, with expensive content and network deals, has been slower to change than we expected,” Sony notes. “Because of this, we have decided to remain focused on our core gaming business.”
Vue may not have worked out, but Sony’s gaming division is doing great. The PlayStation 4 has sold over 100 million machines, and the company is now getting ready for the launch of the PlayStation 5 later next year. In other words, now is not the time to devote resources to Pay TV.
Three top investment pros open up about what it takes to get your video game funded.
“We are very proud of what PlayStation Vue was able to accomplish,” Sony continued. We had ambitious goals for how our service could change how people watch TV, showcasing PlayStation’s ability to innovate in a brand-new category within the Pay TV industry. We want to thank all of our customers, some of whom have been with us since PlayStation Vue’s launch in 2015.”
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