Since releasing the first PlayStation in 1994, Sony has grown into a titan of console gaming with Microsoft's Xbox emerging as its main challenger.
Revenue from subscriptions has grown with the growing trend of video games being played online with content and features routinely updated.
Sales from Xbox content and services was up 61 percent in the final three months of last year, driven mostly by Microsoft's acquisition of "Call of Duty" maker Activision Blizzard, according to quarterly earnings figures.
Microsoft launched its blockbuster takeover in January 2022, an acquisition that made it the world's third-largest gaming company by revenue.
Microsoft is laying off 1,900 people, or eight percent of staff, from its gaming division as it consolidates the blockbuster buyout, the tech giant announced in January.
Spencer, said in a memo to employees that the company was committed to finding a "sustainable cost structure" to grow the gaming business.
Source: AFP
