Take on Microsoft! Sony launches PS Plus game subscription service

Zhitong Finance APP has learned that $Sony (SONY.US)$ plans to launch a new video game subscription service this summer to boost sales of its PlayStation game console to compete with similar services offered by $Microsoft (MSFT.US)$ .
Industry insiders believe the move is Sony's answer to Xbox Game Pass. Xbox Game Pass is a gaming subscription service from Microsoft that lets users download and stream a ton of different games.
Microsoft has invested heavily in Xbox Game Pass, buying major video game publishers like Activision Blizzard and Bethesda for a combined $76 billion to bring their hit titles to Xbox.
Xbox Game Pass is considered the "Netflix of gaming $Netflix (NFLX.US)$ ". It allows players to play video games on their phones, PCs or Xbox consoles via the cloud, eliminating the need for expensive hardware.