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PlayStation 5 marks five years as Sony delays next-generation console
Sony's PlayStation 5 has reached its fifth anniversary with no immediate successor on the horizon, as the company emphasizes the console's continued market strength and upcoming exclusive titles, a senior executive told the BBC.
Supply struggles and sales milestones
The PS5 launched in November 2020 amid global chip shortages that constrained supply for nearly three years. Despite early challenges, the console has since sold over 84 million units worldwide, according to Eric Lempel, head of PlayStation's business operations. Speaking to the BBC, Lempel dismissed speculation about a PlayStation 6, asserting the PS5 still has "a lot of great content" ahead.
"We're really hitting our stride now," he said, noting that the console's best-selling title has yet to release. "I'm not going to tell you which one, but I think it's still to come."
Shifting industry dynamics slow console cycles
Historically, gaming consoles followed a five-to-six-year replacement cycle, with each generation introducing dramatic leaps in graphics and performance. Today, however, technological advancements are "more technical and less immediately striking," said Steve Cottam, CEO of game streaming service Antstream Arcade. This incremental progress, combined with lengthier game development timelines, has extended the lifespan of current hardware.
Christopher Dring, an industry analyst, pointed to Naughty Dog's output as illustrative of the trend: the studio released four games during the PS3 era but only three in the PS4 generation-and none yet for the PS5. "Grand Theft Auto 6," he noted, "was recently delayed to November 2026," reflecting broader industry delays.
Gamers embrace variety as consoles age
Dring also highlighted a shift in player behavior, with gamers now sampling "50% more games" than in previous generations, including indie and niche titles alongside blockbusters. Rachel Howie, a Twitch content creator known as DontRachQuit, welcomed the slower pace: "When the jumps in quality are bigger, they feel more worthwhile," she told the BBC, criticizing the past practice of iterative "slimmer versions" with minimal upgrades.
Cross-generation play and handheld competition
Many of today's top titles-like Fortnite, Roblox, and Call of Duty: Warzone-remain playable on older consoles, reducing urgency for hardware upgrades. Dring speculated that even if a PS6 arrives in 2027, most launch games would likely support PS5 compatibility.
Meanwhile, Sony faces stiff competition in the handheld market. Nintendo's Switch 2, released in June 2025, sold 10 million units in its first months, building on the original Switch's status as the third-best-selling console ever. Sony's response, the PlayStation Portal-a PS5 streaming device-has "exceeded our expectations," Lempel said, though he declined to share sales figures.
Upcoming exclusives and multimedia expansion
Sony's first-party lineup includes Marvel's Wolverine (2026), developed by the team behind the Spider-Man series, and Intergalactic, a new project from Naughty Dog. The company is also leveraging its franchises in film and TV, with The Last of Us Season 3 and adaptations of God of War and Ghost of Tsushima in development. Lempel singled out 2002's Sly Cooper as his top pick for a potential screen adaptation, envisioning it as "an Ocean's 11-type thing."
"Some people discover these characters and worlds and want more. If you look at something like The Last of Us, they want to know what happens next."
Eric Lempel, PlayStation business chief
Market dominance amid evolving player habits
Despite Nintendo's handheld success, the PS5 maintains its lead in the home console sector, outselling Microsoft's Xbox Series X and S. Analysts attribute the extended console cycle to a combination of factors: longer development cycles, cross-generation game compatibility, and a diversifying player base less tethered to hardware upgrades.
For now, Lempel's message is clear: "We're just going to continue with PS5."
