While many entertainment companies are working their way into the streaming industry to provide their own streaming services, it appears as though Sony may be looking to offload its PlayStation Vue service. A new report from The Information said people familiar with the matter have informed the outlet that Sony is exploring a potential sale of PlayStation Vue and has taken steps to do so such as speaking to other companies with streaming services.
The Information reported on the possible sale of PlayStation Vue while saying that Sony has been in contact with Bank of America Merrill Lynch who’s been assisting them in exploring a sale. This potential sale would include the company’s technology as well as its subscriber list, a list that’s said to include around 500,000 households. One of the companies that Sony has talked to about selling PlayStation Vue is supposedly FuboTV, a streaming service geared towards sports, but The Information said those reports haven’t gone anywhere.
PlayStation Vue is Sony’s TV service that allows its users to stream different shows and live channels for cable-like bundles. It has more expensive versions with add-ons like HBO and Showtime similar to how other streaming services work, but it doesn’t have a focus on original content like Hulu and Netflix do. You also don’t need a PlayStation 4 to use PlayStation Vue since it can be accessed through multiple devices.
But with so many other companies joining the streaming race in recent years, Sony’s PlayStation Vue seems to have fallen behind. The goal of PlayStation Vue was to give its users a compact bundle of channels to watch their favorite shows on, but many other streaming services now offer the same thing along with on-demand and original content. Eric Haggstrom, a forecasting analyst at eMarketer, told The Information that Sony hasn’t been actively marketing PlayStation Vue in recent years which should serve as an indication that the company isn’t focused on the service.
To sign up for PlayStation Vue currently, the cheapest option is the “Access” package which costs $49.99 and comes with 50 different channels. Above that is the “Core” plan for $54.99, and beyond those two are the “Elite” and “Ultra” options that come with more channels and premium ones like HBO. These current prices followed an announcement from July when Sony said it would be increasing the cost of PlayStation Vue by $5 for each of the packages.