History
When Sony introduced the program for PlayStation in 1997, games could become Greatest Hits titles after selling at least 150,000 copies and being on the market for at least a year. Minimum sales required eventually rose to 250,000. When the program came to PlayStation 2 in 2002, games could become Greatest Hits titles after selling at least 400,000 copies and being on the market for at least 9 months. Suggested retail prices of Greatest Hits titles were initially $24.99, but they now typically retail for $19.99. Though Sony-published games are virtually guaranteed to eventually be Greatest Hits titles after they meet their sales and age marks, other companies are not required to release their titles on the Greatest Hits label even if they meet the criteria. In addition, Sony also allows other publishers some flexibility in the pricing of their own Greatest Hits titles, though most companies stick to the agreed-upon suggested retail price. Games that are multi-million sellers may become Greatest Hits titles much later than 9 months to maximize profits. It is also a common practice for a game to re-release on the Greatest Hits label at a close proximity to the release of that game's sequel or follow-up.
In 2006, Sony extended the Greatest Hits program to the PlayStation Portable. To qualify, a title must be on the market for at least 9 months and have sold 250,000 copies or more. The Greatest Hits price for PlayStation Portable games typically begins at $19.99.
On July 28, 2008, the program was introduced on the PlayStation 3. A PlayStation 3 game must be on the market for 10 months and sell at least 500,000 copies to meet the Greatest Hits criteria. PlayStation 3 Greatest Hits titles currently sell at $29.99.
Read more about this topic: Greatest Hits (budget Range)
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