Sony is shutting down its live television streaming service, PlayStation Vue, early next year. The company recently announced its users can no longer access the service from January 2020. News about the shutdown came out only a few days following spreading rumors that Sony was searching for a new owner to invest in this struggling service, as described in the reports.
An article posted on TechCrunch says that "Sony had talked to fuboTV" for a possible deal that would include the subscriber base of about half-a-million users of Vue, as well as its underlying technology. The same indicates, too, that Sony had also tapped the Bank of America Merill Lynch for exploration of the sale a few months ago. The value of this proposed business is said to be in tens of millions during the time of discussion.
Struggling in Looking for Buyer
The sale of PlayStation Vue has brought too much challenge to Sony. Those who are aware of the service and have tried it understand that Sony may struggle in searching for a buyer. This is because PlayStation Vue did not run on a patented technology. Instead, it employed BAMTech, a streaming platform owned by Disney.
Moreover, despite the flaw in a patented technology, the news of Vue's shutdown (and not a transfer of ownership or new ownership) is likely to disappoint some fans of this live streaming service. A smaller number of Vue subscribers were happy with its user interface and unique features such as the multi-view which allows them to watch multiple live TV programs at once.
A Misconception that Led to Challenges in Consumer Adoption
The PlayStation Vue had faced challenges at first in terms of consumer adoption, mainly because of its labeling. By branding it, 'PlayStation Vue,' a lot of consumers believed it was restricted to PlayStation consoles. In effect, Vue was accessible across platforms like YouTube TV, Hulu Live TV, and Sling TV, among others. And, what many people don't know is that one needs not to own a PlayStation to use Vue.
Sony has sold a hundred million PlayStation on the market, making its failure to make the service work efficiently more disappointing. Not only was Vue among the first live television streaming services enter the market. It also had a built-in audience to promote to. More so, its maker claimed, market pressures are to blame for Vue's demise. The company claims, "Unfortunately, the highly competitive Pay TV industry" with costly content and network contracts has changed more slowly than expected. Therefore, Sony has decided just to remain focused on its core gaming business.
