In the past, you could count the years between two game consoles on your fingers.
It was a similar story for other consoles, but recently, things have slowed down – perhaps that's why the PS5 is celebrating its fifth anniversary, while a PS6 seems unlikely.
According to PlayStation's business head, Eric Lempel, this is because this older console still has a lot of life left in it.
"I would say we're catching up now,"
He added that the company will "continue working with the PS5" because of the "great amount of content."
Mr. Lempel oversaw the launch of this console, which struggled with supply chain problems at the time of release due to a global chip shortage.
Supply issues were resolved three years later, and the console has sold over 84 million units worldwide.
And, five years on, he said the PS5's best-selling game hasn't even been released yet.
"I won't tell you which game it will be, but I think it's yet to come," he said.
Part of the reason PlayStation is able to predict upcoming blockbusters is that the PS5 hasn't advanced technologically the way older consoles could.
"In the 80s and 90s, every console brought a huge leap in power and capability compared to the previous one," said Steve Cottam, head of game streaming service Antstream Arcade.
"There are still improvements today, but they're more technical and don't immediately impact the average player."
The PS5 being on the market for some time means Sony still has several high-profile games ready.
Marvel's Wolverine, created by the same team that created the successful Spider-Man series, is set for release in 2026 – while Naughty Dog, the developer of Uncharted and The Last of Us, is currently in development on its upcoming game, Intergalactic.
Industry expert Christopher Dring said that Naughty Dog's schedule partly explains another reason for the console's longevity – because it takes longer for them to create games than before.
"During the PS3 generation, Naughty Dog released four games," he said.
"During the PS4 generation, that number dropped to three – not a single game has been released during the PS5 generation so far."
He said this story was repeated across the industry, with Grand Theft Auto 6 – which will be available on both PlayStation and Xbox – recently being delayed to November 2026.
Mr. Dring said that another reason for the longevity of consoles like the PS5 could be that gamers are more willing to try new things.
"We're seeing that people are playing 50% more games on average than they did last generation, and they're playing a wider variety of games," he said.
"They'll be playing hit games, but also smaller games or unique games they've never heard of before."
"I think it's a good thing they're not releasing new consoles every two years anymore—a new version here, a slightly thinner version there, a slightly bigger screen, etc.," said content creator Rachel Howie, known as DontRachQuit on Twitch.
"When there's more improvement in quality, it feels more worthwhile."
Another reason Sony isn't rushing to introduce new hardware is that the PS5 is ahead of its competitors, outselling Microsoft's Series X and S consoles, at least in the home console segment.
However, the same can't be said for handhelds.
The Nintendo Switch—a handheld console that connects to a TV and plays games on a larger screen—is the third-best-selling console in history.
Its sequel, the Switch 2, which will be released in June 2025, has sold 10 million units in its first few months.
However, PlayStation isn't giving up.
"We're always looking for new innovations in this category," Mr. Lempel said.
The success of Nintendo's hardware may have inspired Sony to release the PlayStation Portal, an accessory that allows you to stream from your PS5.
Mr. Lempel said that Portal is "performing very well," and although he didn't provide exact sales figures, he said it has "exceeded our expectations."
Mr. Dring said he believes there's a further difference in how games are released now, which could increase the time between hardware releases.
He said, "Some of the biggest games today can still be played on PS4, and for the first three years, it was relatively rare for them to be released exclusively on PS5."
"The games that dominate the most-played charts are games like Fortnite, Roblox, and Call of Duty: Warzone... These games, in some cases, are over 10 years old and can be played on much older devices.