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  "documentTitle": "Third Point Management | Activist Presentation Deck | 102 slides",
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  "presentationDate": "2019-06-01 00:00:00",
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  "notes": "The chart shows a clear shift in revenue composition over time, specifically highlighting the growth of the green 'PS Plus' segment in later years.",
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      "kind": "chart",
      "text": "Sony G&NA segment revenue by type ($bn)",
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      "text": "Since launch of PS4, Sony's gaming business has deviated from the historical cyclical pattern; in the PS4 cycle, Sony's revenue growth has actually accelerated in year #4 / #5. Sony's revenue base has also undergone a dramatic shift away from hardware sales and toward software sales, due to: (1) Rapid growth of in-game purchases, (2) Expansion of Sony's 1P studios, (3) Introduction of PS Plus service.",
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      "text": "PlayStation has successfully transitioned from a cyclical hardware business to a recurring software/subscription model",
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