Amid the fallout from PlayStation's announcement that it will halt physical disc manufacturing in 2028, SEC filings reveal that Sony CEO Hiroki Totoki sold over half of his stock shortly after the news broke. Some fans have been vocally opposed to Sony stopping physical disc production, and they have canceled their PS Plus subscriptions in response and in hopes that the company listens.
PlayStation’s announcement that it would go digital-only as of 2028 has sent shockwaves through the gaming industry. While digital sales account for the majority of games sold, there are still physical media enthusiasts who hold out for disc versions of their most anticipated games, and several developers are among them. After the news broke, developers of high-profile games like Baldur’s Gate 3 spoke out in support of physical media, echoing sentiments from fans who have begun protesting. Unfortunately, it seems like it won’t matter for Sony in the long run.
Sony CEO Cashes Out Stock Holdings After PlayStation Disc Decision
On June 3, 2026, just two days after PlayStation's big announcement, SEC filings show that Sony CEO Hiroki Totoki sold 225,000 shares of Sony stock, or roughly 56% of his stake in the company. At the time of the sale, Sony traded at $21.02 per share, netting the CEO about $4.7 million and leaving him with 173,250 shares. Additionally, Sony CSO, Toshimoto Mitomo, also sold 25,000 of his shares, or roughly 18% of his stake in the company, for a total of $525,500 on the same day. Shortly after PlayStation announced it was ending physical media production, Sony's stock value also increased, and it has only grown since then. As of July 8, Sony stock is trading at $21.15 per share.
Click or tap on the games that match the category
Sony hasn’t commented yet on either the SEC filings or PlayStation's plan to go all-digital in 2028, but experts believe the current backlash won’t even matter in the end. A recent interview with an industry analyst regarding PlayStation dropping discs says that profit margins on physical copies are so small that any backlash from fans canceling their PS Plus subscriptions would matter little to Sony. After all, the company will be making 100% profit on its exclusive games by 2028. Developers of games like Lords of the Fallen 2 have even chimed in to say that physical media profit margins are rough, but they still intend to make fans happy with a physical release.
Still, that hasn't stopped fans from taking a stand. The current Change.org petition urging Sony to undo its decision has accrued over 237,000 signatures as of July 8 and continues to grow. On social media, many upset fans have started to brigade new PlayStation posts with pleas to bring back discs as the company remains silent on the matter.
While Sony CEO Hiroki Totoki selling half of his stock in the company could mean nothing, it certainly comes at an interesting time. Sony's stock remains stable despite the online turbulence, so it's unclear whether the excecutive was predicting a market dip. However, there are some big things coming for the PS5 very soon. Marvel's Wolverine releases in September, right before GTA 6 arrives in November, both of which should be big console movers in a year when the PS5 is still selling incredibly well. Despite the fallout, PlayStation still looks poised to have a solid second half of the year.