We've previously covered how Sony Interactive Entertainment (SIE) partnered with rental companies to launch a "PS5 rental service" in the UK and Japan, signaling strong market demand for short-term console rentals.
Japanese media outlet ITMedia recently reported that GEO (ゲオ), a major rental chain in Japan, kicked off a trial "PS5 rental service" on February 28th this year, and it's been an absolute smash hit! While rental rates vary by store, nearly half of the participating locations have been "fully booked" almost constantly since the launch two months ago. Overall utilization rates are soaring past 80%, making it genuinely tough to snag a console sometimes – no exaggeration!
Yusuke Sakai, the head of GEO's merchandise department and the mastermind behind this project, stated, "This has been even more popular than we initially expected." GEO's core business used to be CD and DVD rentals, but with the rise of streaming platforms, that market has cooled considerably. This prompted them to explore new avenues, leading to the brilliant idea of renting out PS5 consoles.
The idea first sparked in the summer of 2024. At the time, PS5 supply was finally stabilizing, but then came the price hike. What was originally ¥66,980 for a PS5 jumped to ¥79,980 by September, making the console a much steeper purchase for consumers.
Sakai explained, "We started thinking, 'Can we apply our existing video rental model to renting PS5s?'" With nearly 1,000 GEO stores across Japan, and their established business of selling new and used game consoles and titles – even buying back pre-owned PS5s – they already possessed the necessary maintenance and repair know-how. This meant they could launch the service at the industry's lowest price point, with virtually no additional staffing or training costs.
GEO's PS5 rental service comes with a jaw-dropping price tag: "8 days and 7 nights for just ¥980"! When that price dropped, the internet absolutely lost its mind, with some even calling it a "god-tier service."
Yusuke Sakai, head of the merchandise department, also pointed out: "Back in the day, video rentals let everyone enjoy movies easily at home for a low price. Now, we're extending that same spirit to game consoles, allowing people to experience the joy of high-end machines."
That ¥980 rental price is, frankly, a stroke of strategic genius. GEO's goal isn't to make a profit directly from renting out PS5 consoles; it's to draw customers into their stores, where they'll hopefully pick up game titles and accessories, boosting overall sales. This strategy has been incredibly successful, with more and more consumers now visiting GEO stores to shop. Plus, GEO's existing services like buying and selling used consoles and repairs are what allow them to keep costs so low.
GEO had originally aimed to launch this service by spring 2025, right before the release of "Monster Hunter Wilds." They anticipated that this major title would reignite PS5 hype, so they made it a priority to "definitely launch before then."
Of course, GEO also had thorough discussions with Sony (SIE). Currently, the target stores for PS5 rentals are primarily:
1. Stores with a high proportion of game sales.
2. Stores with parking lots (targeting drivers). Considering the PS5 console's considerable size and weight, it's not exactly convenient to carry on a train. Therefore, they mainly selected suburban locations with parking facilities for the trial run.
Each store is equipped with approximately five rental units. Just like renting movies, if a console is available, you can rent it on the spot; no reservations are accepted. After returning a console, if you want to rent again, you can't just grab the same unit; you have to see if other consoles are available. These restrictions are in place to give more people a chance to experience the service, preventing long-term monopolization by the same individuals.
Indeed, with gaming console prices steadily climbing, and living costs soaring, these machines are simply not an impulse buy for average families, kids, or students. This is precisely why "rental" services like GEO's are once again gaining significant attention.
GEO is currently observing the market, and it's possible they might offer rentals for other consoles in the future. It makes you wonder if a similar service would find a market elsewhere!
via： ITMedia