Renting a PS5 has suddenly become a big trend in Japan over the past few months, and it’s easy to see why! Instead of buying Sony’s latest console, people are choosing to rent it, thanks to a mix of rising prices, a super popular game, and a smart new service from a Japanese retailer.
Back in February, GEO Corporation—a chain with about 1,000 stores that rents and sells movies, music, and games—started offering PS5 rentals. It’s super affordable, starting at just 980 yen (around $7) for a week, or 1780 yen (about $12.50) for two weeks. This has been a huge hit for GEO, with 80% to 100% of their PS5s rented out at the 400 stores providing the service.
GEO’s manager for rental products, Yusuke Sakai, told ITMedia that the idea for renting PS5s came up in summer 2024. At the time, their DVD and CD rentals were dropping because of streaming services. Meanwhile, even though PS5s weren’t hard to find anymore, rumors were swirling that Sony might raise prices in Japan due to weak exchange rates. Sure enough, on September 2, 2024, Sony bumped up the cost of the Digital Edition from 59,980 yen (about $427) to 72,980 yen (around $520), and the disc version from 66,980 yen ($477) to 79,980 yen ($569). A lot of people in Japan weren’t happy, with many saying on Sony’s X post that almost 80,000 yen was way too much for a console that’s already four years old.
That’s when GEO saw an opportunity. “We started thinking about renting out PS5s using our current rental system,” Sakai explained. Since GEO has been selling, repairing, and renting electronics since the late ‘80s, they already had everything set up—both in-store and online. Plus, their staff knew how to repair and reset PS5s, which kept costs low. This let GEO offer PS5 rentals at much better prices than other companies, who were charging 4500 to 8900 yen a month. Those low prices likely made it easier for curious folks to try a PS5 for a week or two, which has definitely helped drive the rental boom.
GEO launched their PS5 rental service on February 28, just in time for the release of Monster Hunter Wilds. This game is part of Capcom’s hugely popular Monster Hunter series in Japan, but it’s only available on certain platforms, which worried some players. Xbox isn’t very popular in Japan, and the game’s high PC requirements left the PS5 as the best option for many—but its price was a big hurdle. “We knew Monster Hunter Wilds would be one of the biggest games of the year, so we made sure to get the service ready for its launch,” Sakai said.
Sakai also mentioned that GEO’s PS5 rentals fit their long-time mission of letting customers try expensive products at a lower cost. Back in the ‘80s, a movie videotape or laserdisc could cost 15,000 to 20,000 yen to buy, but GEO made it affordable to rent one for about 1,000 yen a night. Today, with a PS5 costing nearly 80,000 yen, it’s a big purchase for parents or students, making renting a much more appealing choice.
That said, renting a PS5 isn’t always as cheap as it seems. You’ll need to factor in extra costs, like renting or buying a game and subscribing to PSN for online play. Also, GEO only offers one-week or two-week plans right now, and if you want to keep the console longer, it’s 500 yen per day. Have you ever thought about renting a console instead of buying one? I’d love to hear your thoughts!
