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PLAYSTATION® GAME
CONSOLE TO $99 FOSTER CITY, Calif., August 16, 1999 --
Continuing its long-range plan to make videogame
entertainment accessible to mass-market audiences, Sony
Computer Entertainment America announced today that
effective August 23, its leading PlayStation platform will
be available to consumers for $99, a nearly 25 percent
reduction from its current suggested retail price (SRP). As
an additional benefit to consumers, the company also
announced the inclusion of several hit franchise titles to
its "Greatest Hits" lineup, a series of the most
popular PlayStation games available for as low as $19.99.
The new "Greatest Hits" inductees will be
in-market August 23. "The $99 price point has always been
part of Sony Computer Entertainment Americas strategy to
bring the worlds leading videogame entertainment system
to the broadest audience," said Kaz Hirai, president
and chief operating officer, Sony Computer Entertainment
America. "With a console in more than one out of every
five U.S. households, we are well on our way to establishing
PlayStation as the de-facto standard in videogame
entertainment. Now withPlayStation set at $99, we have taken
the next step in our long-range plan to bring the platform
to a mainstream audience of all ages." PlayStation already enjoys a diverse
spectrum of fans and offers game titles in all genres, and
the company expects this price reduction to further expand
the appeal of its popular system. Company executives also
indicate that the new price point, coupled with the
sustained demand for PlayStation products, will fuel a
strong holiday selling season for the category. "With the announcement of our new
pricing structure, PlayStation is poised to dominate its
fifth holiday season," said Jack Tretton, vice
president, sales, Sony Computer Entertainment America.
"Our retail partners have been enthusiastic about this
new price and are looking forward to meeting the demand the
new $99 price will create." As the company approaches its fourth
anniversary -- the system was launched in North America on
September 9, 1995 -- PlayStation has become the undisputed
leader in videogame entertainment. In just four years,
PlayStation has dominated the marketplace with a North
American installed base of more than 20 million consoles,
and life-to-date software shipments exceeding 159 million
units. According to the unadjusted life-to-date figures in
the June reports from the NPD Group, a leading source of
information on the videogame industry, PlayStation currently
enjoys an impressive 56 percent market share for next
generation hardware and 64 percent market share for next
generation software.* There are now more than 600 PlayStation
titles available to consumers. As part of its unprecedented
$150 million marketing blitz, the company is launching a new
campaign designed to support the PlayStation brand and new
hardware pricing, plus a multitude of other key videogame
releases including the "Greatest Hits" software
line. This advertising effort will be rolled out over a
two-month period and will consist of national TV and print
placements, extensive radio buys and cinema advertising. "Over the past four years, we have
demonstrated that videogaming appeals to a mass-market
audience," said Andrew House, vice president,
marketing, Sony Computer Entertainment America. "The
goal of our extensive 1999 marketing campaign, combined with
the new pricing structure, is to ensure that the PlayStation
entertainment experience is accessible to all consumers,
making it more compelling than ever for people to purchase
the system." *All information reported from The NPD
Groups June 1999 TRSTS reports is unadjusted. Sales
monitored by the TRSTS measurement system only accounts for
approximately 65 to 75 percent of total PlayStation sales
within the North American region in each monthly report. The pricing announcement is accompanied
by the addition of more than five game titles to
PlayStations "Greatest Hits" series. The new
"Greatest Hits" inductees include the following: A Bugs Life
Crash Bandicoot: WARPED
Gran Turismo
Spyro the Dragon
Cool Boarders® 3 from 989
Studios
Twisted Metal® III from 989
Studios With these new additions, the
"Greatest Hits" collection now includes more than
60 of the top-selling and most popular PlayStation games of
all time. Consumers can find "Greatest Hits"
titles for a SRP of $24.99, with many retailers advertising
game titles for as low as $19.99. Sony Computer Entertainment America, a
division of Sony Computer Entertainment America Inc.,
markets the PlayStation game console for distribution in
North America, develops and publishes software for the
PlayStation game console, and manages the U.S. third party
licensing program. Based in Foster City, Calif., Sony
Computer Entertainment America Inc. is a wholly-owned
subsidiary of Sony Computer Entertainment Inc.
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