In Japan, the sudden surge in popularity of renting PS5 consoles can be attributed to a combination of factors, including price increases, the launch of a highly anticipated game, and the introduction of a timely rental service by GEO Corporation. GEO, a chain with around 1,000 stores that specializes in renting and selling movies, music, and games, started offering PS5 rentals in February. With rental prices starting at a budget-friendly 980 yen (approximately $7) for a week and 1780 yen (about $12.50) for two weeks, the service has seen remarkable success, with rental rates at 80% to 100% in the 400 stores providing this option.

Yusuke Sakai, GEO's manager for rental products, shared with ITMedia that the decision to rent out PS5 consoles was made in the summer of 2024. This move was spurred by the decline in DVD and CD rentals due to the rise of streaming services. At the same time, rumors of impending PS5 price hikes in Japan due to unfavorable exchange rates were circulating. On September 2, 2024, Sony confirmed these rumors by increasing the price of the Digital Edition from 59,980 yen (around $427) to 72,980 yen (around $520), and the disc drive version from 66,980 yen ($477) to 79,980 yen ($569). This price increase led to widespread dissatisfaction among Japanese consumers, many of whom expressed their frustration on Sony’s official X announcement, stating that nearly 80,000 yen was too steep for a four-year-old console.

GEO capitalized on this situation by leveraging its existing rental infrastructure, which had been in place since the late 1980s. The company's experience in selling, repairing, and renting various electronics allowed it to offer PS5 rentals at significantly lower prices than competitors, who charged between 4500 to 8900 yen per month. GEO's affordable rates made it feasible for even the mildly curious to try out the PS5 for a short period, contributing to the spike in rentals.

The timing of GEO's PS5 rental service launch on February 28 was impeccable, aligning with the release of Capcom’s Monster Hunter Wilds. The Monster Hunter series is immensely popular in Japan, and the limited availability of Monster Hunter Wilds on other platforms, coupled with the high PC specs required, made the PS5 the preferred choice for many gamers. However, the console's high price was a deterrent. Sakai noted that launching the rental service in time for Monster Hunter Wilds was a top priority, reflecting GEO's commitment to enabling customers to try expensive products at a lower cost—a philosophy that dates back to the 1980s when GEO made movies affordable to rent.

Despite the attractive rental prices, the overall cost of renting a PS5 can escalate when considering additional expenses such as renting or buying games and the necessity of a PSN subscription for online play. Moreover, GEO's rental plans are limited to one or two weeks, with an additional 500 yen per day for extensions, which might affect the perceived affordability of the service.

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