Sony says PlayStation 5 won't get first-party sequels for existing franchises this year

With God of War Ragnarok's Valhalla expansion and The Last of Us Part II Remastered out and about, Sony's next first-party AAA title for the PS5 remains a mystery. While the company may have its hands full with bringing over popular Xbox titles to its platform, fans of its coveted exclusives might not have much to work with, at least until early 2025. In its Q3 earnings call (via Gematsu), Sony COO and CFO Hiroki Totoki said:

But while major projects are currently under development, we do not plan to release any new major existing franchise titles next fiscal year like God of War Ragnarok and Marvel's Spider-Man 2.

This tacitly implies that none of Sony's beloved franchises will get any new entries. God of War more or less ended its story arc with Ragnarok and a new addition is unlikely to arrive anytime soon. Similarly, a report from 2021 told us The Last of Us Part III's story is in development, but not the actual game. The above statement also implies Insomniac's upcoming game, Marvel's Wolverine, won't launch on the PlayStation 5 until after March 2025.

Meanwhile, Playstation exclusives like Ghost of Tsushima, Demon's Souls, Gran Turismo 7, and others are slated to make their way to PC in 2024. If true, that should keep Sony and its studios (Bluepoint, Nixxes, etc.) busy throughout the year. Furthermore, it doesn't mention anything about new IPs, meaning there's a chance the project codenamed Concord (a first-person multiplayer title) could drop sometime in 2024.