Playstation 5 Stock

Sony Interactive Entertainment President and CEO, Jim Ryan (Credit: Gamesindustry)

TASS, a Russian news agency, had released an article in the past week of their interview with Jim Ryan, Sony Interactive Entertainment president and CEO. In the interview, Ryan had commented on the stock of Playstation 5s (PS5). According to Ryan, they’re sold out on PS5s, “absolutely everything is sold.”

According to Ryan, the strong demand for the PS5 is what was causing shortages earlier this month and not because of pandemic-related issues when it comes to production issues, “we might have had a few more to sell, but not very many: the guys on the production/manufacturing side have worked miracles.”

Console Launch During A Pandemic

Playstation 5 (PS5) console (Credit: Push Square, Sony)

Ryan also said he doesn’t recommend doing a console launch during a pandemic: ” I wouldn’t plan on doing another big console launch in the midst of a global pandemic, and I wouldn’t recommend it to anybody else.” Ryan also states that they had to do manufacturing preparation remotely, which was ‘difficult’.

TASS asked Ryan if the release of the PS5 would of been different if we weren’t going through a pandemic, this is Ryan’s answer, “In terms of the product and its feature set, no, absolutely not. They way we took it to market might have been a bit different, but the actual product would have been the same. We might have had a few more to sell, but not very many: the guys on the production/manufacturing side have worked miracles.”

A Hard-To-Get Console, But Not For Scalpers

Playstation 5 (PS5) controller (Credit: Business Insider, Sony)

Techradar put it perfectly, “demand continues to outstrip supply.” Walmart and Best Buy were reported by CNN to have error messages and glitches on their websites when they dropped the console on launch day, November 12. This has continued for every restock on both websites.

A scalper group, CrepChiefNotify, based in the UK have acquired about 3’500 PS5s, according to a report by Business Insider. Scalpers are people who resell product, shares, or tickets for a large or quick profit. The group intends to turn these into profit by reselling them with a larger price tag. The group and many other scalpers used bots to acquire the PS5s, which is not a new process among scalpers.

As shown, scalpers have more of an advantage than an average consumer, whether that be by bots, employees, or inside information. According to ScreenRant, the resale of PS5s have doubled in price, “Resale PS5 consoles often fetch markup prices of nearly double what they were purchased for, something that could actually increase depending on where demand sits heading into December.” According to the same report by Business Insider, scalper bots are partially to blame for the website crashes (i.e. Walmart, Best Buy, etc.) and also why the PS5 is extremely hard to come by.