According to Niko Partners analyst Daniel Ahmad, the average annual spending per user has grown from just over $149 in 2018 to $238.
This aligns with Sony's new strategy. Company head Hiroki Totoki previously stated that it is moving away from aggressive competition for new PS5 sales and will focus on increasing profits from its existing audience.
The revenue growth was driven by increased prices for PlayStation Plus subscriptions, higher prices for games and devices, and increased spending on microtransactions and digital add-ons. An additional factor was the pandemic, which changed user habits and accustomed them to spending more in the PlayStation Store.