Sony Interactive Entertainment is expected to hold a virtual launch event on June 4, 2020, where it is expected to finally reveal the design, packaging, inclusions, initial exclusive game library, and more importantly price, of the next-generation PlayStation 5 game console. The event is scheduled for 1 PM PDT, and will be live-streamed . In related news, in an interview with GamesIndustry.biz, CEO Jim Ryan confirmed that the PlayStation 5 won't be cheap, at least not cheaper than the rumored sub-$500 pricing of the Xbox Series X. "I think the best way that we can address this is by providing the best possible value proposition that we can. I don't necessarily mean lowest price. Value is a combination of many things. In our area it means games, it means number of games, depth of games, breadth of games, quality of games, price of games... all of these things and how they avail themselves of the feature set of the platform," he said.