You Pay For It, We Own It - Sony’s $7.9B Lawsuit

Lock In 7% With Government Bonds:

Sony is facing a $7.9 billion lawsuit that could impact over 9 million players. They’ve been accused of deleting purchased movies, TV shows, and games—items customers thought they owned forever. This lawsuit, filed by consumer advocate Alex Neill, challenges Sony’s alleged abuse of its dominant position, charging high prices and restricting competition on the PlayStation Store. Recently, the UK tribunal approved the case to proceed, setting a major precedent. Sony’s recent actions, however, suggest a broader strategy shift. By merging platforms like Crunchyroll and expanding into anime, music, and gaming, Sony aims to create a unified entertainment platform. This new strategy could offer convenience but raises concerns about consumer control, prices, and content ownership. In this video, we break down Sony’s evolving approach and what it means for digital media’s future.

Free Weekly Newsletter With Insiders:

Socials:

Discord Community:

Timestamps:
0:00 - The Sony Lawsuit
4:29 - Digital Ownership
9:06 - Sony’s Strategy

Resources:

Disclaimer:
This video is not a solicitation or personal financial advice. All investing involves risk. Please do your own research.

[naveej]

Its time to bring back buying stuff that you own instead of the licenses that cost more than owning something would have costed you a few years ago

[airtec]

if buying isn't owning then piracy isn't stealing.

[banban]

"Buy it once, pirate it forever"

That will be my new motto

[BOMBON]

Another reason why its ALWAYS better to own a physical disc if given a choice.

[leafnut]

Physical media is king, if you can't own it physically, sail the seas!

[ravensailiata]

2024 is a good year for gamers.
Bad games are failing, Terrible Company practices are getting pushback, and people are finally fighting for change.

[cyclonous]

They can spend billions of dollers for aquiring new IPs but can't spend few millions to secure users' credentials.

[kevinbarry]

Sony; the company that installed root kits on customers computers. Sony, the company that had it system hacked because Security was run by 12-year-olds, and then lied about it, and then lied about it again, and then absolutely refuse to apologize for compromising customer data.

[alonsofavela]

If buying isn't owning then piracy isn't theft. Piracy against these companies is completely justified and moral.

[Wiseman]

As someone that has bought over a thousand games on PlayStation I fully support any laws protecting our rights to own the things we have fairly purchased.

[Red_GT_OAP]

This is exactly what happened to my Google music albums I purchased. I lost all paid for albums and singles when it moved to YouTube music. Back to piracy I feel

[Ark_Strike]

Myth: Piracy "costs" the economy billions of dollars every year
Fact: Piracy *saves* the economy billions of dollars every year

[louisvillaescusa]

If a company "sells" something to a consumer but does not secure the right to actually "re-sell" a copy of that item from the producer, then the company is misleading consumers. If you "sell" something to a consumer, it means that the consumer should own the rights to use that product for the rest of their life. If Sony "sold" something that they were only licensing from another company, then Sony didn't have the right to actually "sell " that item. That should be fraud unless Sony said up front, at the time of purchase, that the item will not be owned by the consumer, just temporarily licensed to them. (And not just have this buried in the Terms of Service.) The law needs to rigidly define the terms, "rent, " "lease, " "license" and "purchase" in this new, digital age.

[Moonwalker]

SONY will always have balls as long as their fanboys keep defending them more than their lawyers.

[keith]

It's a good thing sony has a track record for losing lawsuits

[udjujdjddd]

I was banned from the PSN for swearing in a group chat. I had hundreds of $ in games and can no longer download ot play them. Its ridiculous

[ct]

Simple solution to this. If they steal your legally purchased products, just pirate the product back. It's like when you were a kid and your neighbor Jonny stole you red ball. You go over and steal it back. It's not wrong because it's your red ball

[vanillatwilight]

I’ll never feel bad at people pirate content from big companies

[Disgruntled_Old_Man]

I guess the "You will own nothing and be happy" people were wrong. Apparently people aren't happy about that.

[JPR]

An account I had was banned for a stupid reason that I appealed. Was never overturned and they wouldn't even let me access my game library. Thousands of dollars flushed down the toilet. I was beyond furious. Still am so disappointed that they never made that right.