In an interview in the latest issue of Game Informer, Wedbush Morgan analyst Michael Pachter said that the PS Now service, which will allow PS4, PS3 and PS Vita consoles to stream the PlayStation back catalog of games and potentially rent new releases, isn’t feasible when you factor in publisher’s needs.
“PlayStation Now is a joke,” Pachter said. “There is no publisher that is going to license content that’s less than two-years old because they would be concerned that they can’t sell as many copies if they make it available for subscription or rental.”
Because publishers will argue monthly streaming will hamper “per-unit” sales, Pachter argues that PS Now has “no prayer of working.”
“None,” Pachter said.
Sony announced the service during the 2014 International Consumer Electronics Show, which promptly saw reaction from the stock market as share values of video game retailer GameStop plummeted within hours of the news.
The first footage of the PS Now beta had been posted to YouTube yesterday, but Sony quickly quashed any leaks, as uploading images or video of the new service is against the beta terms of service.