Sony Banks on Spider-Man 2 to Boost PS5 Sales as Microsoft's Power Play Shifts Industry Dynamics

Sony Group Corp SONY is betting on Spider-Man to accomplish its PlayStation 5 targets this year.

The Japanese multinational conglomerate will release Marvel's Spider-Man 2, its biggest game of the year, on October 20.

The PS5 battled a supply crisis due to the pandemic in its initial years, prompting Sony to release several major PS5 titles on the PlayStation 4. This strategy might have reduced the immediate need for some gamers to switch to the new console. 

The PS5 has sold about 40 million units, trailing its predecessor's sales, Bloomberg reports

With supply chain challenges addressed, Sony aims to sell 25 million PS5s this fiscal year. They recently introduced sleeker PS5 models to boost holiday sales. 

Spider-Man 2, exclusive to PS5, is expected to drive sales further, especially as it will be available in a bundle with the console.

Sony's Insomniac Games developed Spider-Man 2, the series' third game after 2018's Spider-Man and 2020's Spider-Man: Miles Morales. The series has been a hit, with over 33 million copies sold.

In Spider-Man 2, Peter Parker gets infected by an alien parasite, the "symbiote," enhancing his powers and making him more volatile. This parasite evolves into the antagonist, Venom. 

The PlayStation division is navigating through a period of instability as it prepares to release the new game. Jim Ryan, the head of PlayStation, revealed his retirement plans last month, announcing his departure at the end of this fiscal year. Meanwhile, Microsoft Corp MSFT consummated the acquisition of Activision Blizzard Inc for $69 billion. Activision Blizzard was a key partner of Sony.

Price Action: SONY shares traded higher by 0.59% at $84.60 on the last check Thursday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.