Sony's PlayStation Plus offers little surprise, still viewed positively: Citi
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Sony's (NYSE:SONY) new PlayStation Plus subscription service that gives gamers have access to more than 700 titles offers little surprise, investment firm Citi said, but it's still viewed in a positive light as it competes with Microsoft's (MSFT) Game Pass and Nintendo's (OTCPK:NTDOY) Switch Online.
Analyst Kota Ezawa noted that PS+, set to come in three different tiers, is likely to aid Sony if a number of subscribers use the higher-priced PlayStation Plus Premium Service, which is priced at $17.99 per month in the U.S.
"On the top most contract plan, users can freely play up to 740 titles (this number may vary by region) for a monthly charge of Â¥1,550 ($17.99 in the US, â¬16.99 in Europe, and GBP13.49 in the UK)," Ezawa wrote, adding that it's nearly double the current price of the basic package, known as PlayStation Plus Essential. 
"We think the number of subscribers who will opt for the pricey PS+ Premium package will rise," Ezawa added.
Ezawa has a buy rating and a price target of $148 or 18,000 yen on Sony (SONY). 
Sony (SONY) shares were little changed in premarket trading on Thursday at $105.19.
The subscription services can also be purchased at a yearly price, at $59.99 for PlayStation Plus Essential and $119.99 for PlayStation Plus Premium. The mid-tier package, called PS Plus Extra, will cost $15 a month, or $100 a year. 
PS Plus includes two free games a month and access to multiplayer games online. In addition to that, PS Plus Extra gives subscribers the capability to download 400 PlayStation 4 and PlayStation 5 titles.
Plus Premium adds an additional 340 games to its catalog and subscribers can stream "a selection" of PS, PS2, PS3, PS4 and PS5 titles online.
Ezawa said the new services offer "greater quality and quantity" and the updated PS+ offers online multi-play at no extra charge, something the previous service did not.
Earlier this month, Sony Interactive Entertainment (SONY) said it would acquire Montreal-based Haven Entertainment Studios, its 18th video game studio acquisition.