Sony announces new PlayStation subscription service

• The new PlayStation Plus subscription service will be available in June this year

Sony (NYSE: SONY) announced on Tuesday it will launch a new video game subscription service in June this year, in an attempt to boost the sale of its PlayStation consoles.

The company said it is bringing together its existing PlayStation Plus and PlayStation Now services in an all-new PlayStation Plus subscription service.

The new subscription service will be available in three tiers globally, i.e. PS Plus Essential, PS Plus Extra and PS Plus Premium.

The PS Plus Essential offers two free games each month and access to online multiplayer and costs $10 a month or $60 for an annual subscription.

Also Read: Sony to announce PlayStation subscription service as soon as next week

In addition to the benefits of Essential service, The PS Plus Extra offers a selection of 400 downloadable PlayStation 4 and PlayStation 5 titles and costs $15 monthly or $100 a year.

The PS Plus Premium includes 340 more games than Extra, and also lets players stream a selection of PS, PS2, PSP, PS3, PS4 and PS5 games. The plan costs $18 a month or $120 each year.

The announcement comes as Sony competes against rival Xbox Game Pass, a game subscription service from Microsoft.

Picture Credits: Getty Images