In Japan, the trend of renting a PS5 console has seen a notable surge in popularity in recent months. This shift towards renting over buying Sony’s current-generation hardware can be attributed to several factors, including console price increases, the launch of a highly anticipated game series, and a strategic move by a prominent Japanese retailer.

In February, Japan’s GEO Corporation, a chain with approximately 1,000 stores that deal in renting and selling movies, music, and games, introduced a PS5 rental service. With rental prices starting at an affordable 980 yen (approximately $7) for a week and 1,780 yen (approximately $12.50) for two weeks, this service has proven immensely successful. At the 400 stores offering this service, between 80% to 100% of the PS5 consoles are rented out. Yusuke Sakai, the manager in charge of GEO’s rental products, shared with ITMedia that the idea to rent out PS5 consoles originated in the summer of 2024, as the company noticed a decline in DVD and CD rentals due to the rising popularity of streaming services.

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At the time, although the PS5 was no longer facing supply shortages, rumors of a price increase due to unfavorable exchange rates began circulating. On September 2, 2024, Sony confirmed these rumors by raising the price of the PS5 Digital Edition from 59,980 yen (approximately $427) to 72,980 yen (approximately $520), and the disc drive version from 66,980 yen (approximately $477) to 79,980 yen (approximately $569). This price hike was met with significant dissatisfaction from Japanese consumers, many of whom expressed their frustration on Sony’s official X announcement, citing the nearly 80,000 yen price as exorbitant for a four-year-old console.

In response to this, GEO considered utilizing their existing rental system to offer PS5 consoles for rent. With a history of selling, repairing, and renting various electronics since the late 1980s, GEO was well-equipped to handle this new service. Their expertise allowed them to offer PS5 rentals at much lower prices than their competitors, who were charging between 4,500 to 8,900 yen per month. The affordability of GEO’s service likely played a significant role in the sudden increase in PS5 rentals, making it easier for those curious about the console to try it out for a short period.

GEO’s PS5 rental service launched on February 28, strategically timed with the release of Monster Hunter Wilds. Capcom’s Monster Hunter series has long been popular in Japan, and the limited platform availability of Monster Hunter Wilds left many players concerned about how to access the latest installment. Given the relatively low popularity of Xbox in Japan and the high PC specifications required for the game, the PS5 emerged as the preferred choice despite its high cost.

“We knew that Monster Hunter Wilds was going to be one of the biggest titles of the year, so we made it our top priority to get the service set up in time for that,” explained Sakai.

Sakai also noted that GEO’s PS5 rental service aligns with the company’s philosophy of allowing customers to try out expensive products at a lower cost. He reflected on how, back in the 1980s, purchasing a single movie videotape or laserdisc could cost between 15,000 to 20,000 yen, whereas GEO made it possible to rent a movie for around 1,000 yen per night. With a PS5 now costing nearly 80,000 yen, renting becomes an appealing option for parents buying for their children or for students saving up for the console.

However, the cost-effectiveness of renting a PS5 may be less clear when considering additional expenses such as renting or buying games and the need for a PSN subscription for online play. Additionally, GEO currently offers only one-week and two-week rental plans, with an extension fee of 500 yen per day if needed.