Technology
Sony to shut down PlayStation Vue in January
San Francisco, Oct 31
Sony is going to cease its live TV streaming service PlayStation Vue on January 30 next year, as it struggles to turn a profit.
"Unfortunately, the highly competitive Pay TV industry, with expensive content and network deals, has been slower to change than we expected. Because of this, we have decided to remain focused on our core gaming business," Sony said in a blog post announcing the shutdown.
"PlayStation fans can continue to access movie and TV content through the PlayStation Store on PS4 and via our partnerships with top entertainment apps," the company added.
Recently as this summer, PlayStation Vue's most basic plan increased by $5 per month, but the streaming service still continued to lose money.
Recently, it was reported that the company was looking at selling its live TV streaming service.
The company earlier recruited Bank of America Merrill Lynch to explore the possibility of selling off its PlayStation Vue streaming service.
Vue was launched as an ambitious original project as one of the first broadcast-over-IP cable-replacement services in 2015.
Last year, PlayStation Vue has lost nearly 2.5 lakh subscribers, putting it significantly behind its compositors like Hulu or Sling TV.
"Unfortunately, the highly competitive Pay TV industry, with expensive content and network deals, has been slower to change than we expected. Because of this, we have decided to remain focused on our core gaming business," Sony said in a blog post announcing the shutdown.
"PlayStation fans can continue to access movie and TV content through the PlayStation Store on PS4 and via our partnerships with top entertainment apps," the company added.
Recently as this summer, PlayStation Vue's most basic plan increased by $5 per month, but the streaming service still continued to lose money.
Recently, it was reported that the company was looking at selling its live TV streaming service.
The company earlier recruited Bank of America Merrill Lynch to explore the possibility of selling off its PlayStation Vue streaming service.
Vue was launched as an ambitious original project as one of the first broadcast-over-IP cable-replacement services in 2015.
Last year, PlayStation Vue has lost nearly 2.5 lakh subscribers, putting it significantly behind its compositors like Hulu or Sling TV.
17 hours ago
Indian Americans caution US university on demand to display 'flag of Kashmir'
17 hours ago
Sadiq Khan re-elected as London Mayor despite criticism over rising crime rate
22 hours ago
Hundred million dollars to support Amritsar startups pledged by Indian-Americans
23 hours ago
Sikh activist's murder leads to three arrests in Canada
23 hours ago
Members of Congress from Indian-American communities send best wishes during AANHPI Heritage Month
23 hours ago
Rutgers University faces criticism from GOPIO over its policy of displaying the separatist Kashmiri flag on campus.
23 hours ago
Young child and elderly Indian couple killed in tragic Canadian collision
23 hours ago
The foreign minister of India has spoken out against Biden's "xenophobia" statement.
1 day ago
UNGA president invokes Mahatma Gandhi to call for protecting journalists
1 day ago
CMFRI holds awareness campaign on climate change for fishing communities
1 day ago
President Murmu reaches Shimla for five-day visit
1 day ago
K'taka CM chairs SIT meeting, orders immediate arrest of Prajwal Revanna
1 day ago
Arvinder Singh Lovely and four others join BJP, days after quitting Congress