Sony is shutting down its live TV bundle, PlayStation Vue. It first launched in 2014 being one of the first live TV streaming services to arrive on the market and offered 80 channels.
The company will stop it on January 30 next year. The service had over 800,000 total subscribers. It was made available on PlayStation consoles and also worked on devices outside the Sony family including Roku players, Apple TVs and Amazon Fire Tvs. "We are very proud of what PlayStation Vue was able to accomplish," Sony wrote in a blog post. "We had ambitious goals for how our service could change how people watch TV, showcasing PlayStation’s ability to innovate in a brand-new category within the Pay TV industry. We want to thank all of our customers, some of whom have been with us since PlayStation Vue’s launch in 2015."
PlayStation Vue provided a bundle of live-streamed TV channels without the hassle of cable. The motivation for Sony’s decision is based on the financial aspects. "Unfortunately, the highly competitive pay TV industry, with expensive content and network deals, has been slower to change than we expected," the company wrote. Sony had tapped Bank of America Merrill Lynch to explore a sale several months ago.The business was said to be valued in the tens of millions at the time.