Sony is discounting PlayStation Plus for PS4 players ahead of the release of the PS5 in an attempt to persuade users to extend their subscriptions for the next generation of console gaming, however, so far, this offer appears highly selective, or more specifically, only for those that have subscriptions ending imminently and right before the PS5 drops. Of course, PlayStation Plus routinely goes on sale, typically via third-party retailers (currently 51% off on 12-months), but this is a discount coming straight from Sony and may signal that a larger round of discounts from retailers is imminent.
So far, it's unclear what the rhyme or reason is behind this discounted offer, but it appears to be for users with subscriptions ending imminently. Further, the offer seemingly confirms PlayStation will not be increasing PlayStation Plus prices for the PS5, because if it was, it wouldn't be pushing discounted rates of its current offer right now.
As for the offer itself, 25 percent off seems consistent and it looks like it's only available for 3-month and 12-month subscriptions.
At the moment of publishing, Sony has not commented or provided any explanation on this supposed offer, but multiple players are reporting having received emails with said offer enclosed inside. In other words, while it's unclear why this offer is being sent out, and seemingly sent out so selectively, it's pretty clear that it's a legit offer being extended.
If Sony does provide any further clarification or comment, we will be sure to make an update to the story with said clarification or comment. However, with similar offers in the past, Sony has opted to keep things vague and inconclusive by not providing any further context or details, and there's no reason to believe this will change now.
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H/T, Reset Era.