Sony announced Tuesday that it is shutting down its PlayStation Vue TV service on Jan. 30, 2020.
In a statement released on PlayStation’s blog, Sony cited that a “highly competitive Pay TV industry,” which included the likes of YouTube TV, Sling, and Hulu, factored into their decision to shut down the live TV streaming service. The sudden announcement of the shutdown comes just a week after a report published by The Information saying Sony was looking for a buyer for the service, which has continually lost money for the company since its launch in March of 2015.
“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,” the statement reads. “PlayStation fans can continue to access movie and TV content through the PlayStation Store on PS4 and via our partnerships with top entertainment apps.”
At its height, Vue amassed about 500,000 subscribers, which is far less than competitors like Sling and YouTube TV, The Information reported last week. The underwhelming number of subscribers coupled with increasing cost to keep cable channels on Vue proved too much for Sony to continue the service.
While Playstation Vue may not have worked out, Sony’s gaming division is doing great. The PlayStation 4 has sold over 100 million machines, and the company is now getting ready for the launch of the PlayStation 5 later next year.