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People already gave you concrete reasons but because you asked directly about studios I think an answer per studio can help lol.

Insomniac: Released games in 2020, 2021 and 2023. Their games don't take 3 years to make Wolverine was announced too soon.
Housemarque: Released Returnal in 2021, free dlc in 2022 and is up to release SAROS in 2026.
Asobi: Released Astro in 2020 and 2024. Still supports Astro.
Sucker Punch: Ghost of Yotei releases this October.
Santa Monica: Released GOW R in 2022 and the Valhalla free dlc in 2023. Cory new IP is next in line but he worked in GOW R it wasn't parallel development.
Naughty Dog: Released game in 2022, cancelled one game, Intergalactic and a second game are in development.
Guerrilla: Released game in 2022, expansion in 2023 and a short game in 2024. Their next game is a Horizon multiplayer we should know more about next year.
San Diego: The Show is an anual release.
Firesprite: One game cancelled, their next game is a horror game.
MediaMolecule: They took basically 7 years making Dreams (released in 2020), you should expect the same from their next game.
Polyphony: Released game in 2022 and a short game/free trial in 2024. You should expect news of the next GT for next year.
Haven: Fairgames is probably going to release for better or worst next year.
XDEV: Worked in games released in 2020, 2021, 2023, 2024, just released DS2 and is working in SAROS and Tokon for next year.
DarkOutlaw: Their project has like 1 year of existence.
LFG: Is rumored their project has 3 years of existence.
Bend: Game cancelled.
BP: Released game in 2020 and their next game was cancelled.
Bungie: Destiny 2 content every year, Marathon is in development.

The list doesn't include remasters but they do take work and time to make.

Cancelled games:
-The Last of Us multiplayer
-Bend's militar service
-BP's GOW service
-London Studio's service
-Firesprite Twister Metal service (not their idea Sony relocated the project from another studio and then cancelled it)
-Pixelopus game
-Destiny spin off
-Deviation's service 
-Spider Man multiplayer (edit: just a pitch) 

Since the release of the PS5 PlayStation studios have released 24 new games, 6 remasters and 1 new game is to be released in 3 months. That makes 5 games per year (with no remasters and of course no games funded by Sony but not owned by them). 3 more games are confirmed and 2 more expected for 2026. So as you can see the releases have been pretty standard, studios that release games faster have released multiple games since the ps5 release, studios that take forever still take forever. If it feels like fewer is either because the pandemic delayed them, because the games were cancelled or because in the PS4 era 1/3 of the games released by PS Studios where AA or smaller. In this generation Sony decided not not make AA games but that is probably going to change next year.

Is Ryan to blame? He was part of the problem but it was the Sony administration in general for pushing the live service plan. Under Ryan reign of terror games like Returnal, Helldivers 2, Astro Bot, SAROS and probably even Tokon came into existence by not being cancelled LOL so he was part of the problem but did a couple things right.

Last edited by GymratAmarillo - on 02 July 2025