It's true, the PS5 won't be getting any major exclusives for a while
That said, it doesn't look like you need to panic too much about it.
Sony has confirmed that it doesn't have any plans to release any new entries in its existing major franchises - the likes of your God of Wars and your Marvel’s Spider-Mans - between April 2024 and March 2025.
Don’t worry though, there is some context to that admission that might help you understand the likely reasons why it set be the case, rather than being anything that should be a real cause for concern. All you have to do is delve into the wonderful world of Sony’s latest financial results call.
In the company’s discussion of its fortunes (thanks, VGC) during the three month period that finished on December 31, 2023, Hiroki Totoki - Sony’s president, COO and CFO - revealed that: “While major projects are currently under development, we do not plan to release any new major existing franchise titles next fiscal year like God of War: Ragnarok and Marvel’s Spider-Man 2.”
That said, he did emphasise that, in terms of its “first-party software”, the company is still focused on “producing high-quality productions and producing live service games”. Given that Marvel's Spider-Man 2 did only arrive on PS5 in late October last year, with God of War: Ragnarok’s Valhalla DLC following not long afterwards, it’s arguably not that surprising that there aren’t any huge PlayStation titles in the pipeline for this next fiscal year.
Plus, as part of the same financial briefing, Totoki also pointed out that the PS5 is going into its fifth year of service since its launch, putting it in “the latter half of the console cycle”, a period when Sony is “[expecting] a gradual decline in unit PS5 sales from next fiscal year onwards”, due to a combination of the two factors listed so far.
So, no reason to rush out any huge titles to capitalise on or give a boost to the sales of a console that’s either just released, or is still in its early years. Especially when Marvel’s Spider-Man 2 has already surpassed ten million units sold on PS5 alone, marking two straight years of big PlayStation titles coming out and doing very well.
Also, in this financial briefing, it was revealed that software sales across PS4 and PS5 during that three month period had gone up by 3.2 million units year-over-year, so there are still plenty of people buying games on PlayStation.
So, even if it might not have hit its own PS5 sales target last yuear, things are seemingly looking ok in PlayStation land. Now we just have to see what Intergalactic The Heretic Prophet turns out to be.