Sony Electronics Introduces 2023 BRAVIA XR TV Lineup

Five new models have been announced to round out Sony's highly anticipated lineup, with features including New XR Clear Image for a fully immersive at-home theater experience

Sony Electronics Inc. today announced its 2023 BRAVIA XR™ TV Lineup, with Cognitive Processor XR™ for the ultimate home entertainment experience. There are five new models in the BRAVIA XR line: X95L and X93L Mini LED X90L Full Array LED, A95L QD-OLED and A80L OLED. All models are equipped with features to provide consumers with an immersive experience for watching movies, streaming apps 1 gaming and more.

2023 BRAVIA XR TVs have the updated Cognitive Processor XR, featuring the all new XR Clear Image on select models ² , which improves noise reduction and clarity with motion, reducing blur and creating scenes bursting with action. The Cognitive Processor XR enables better backlight control for increased local dimming zones, increased brightness and decreased blooming.

Additionally, each model offers Acoustic Center Sync , which synchronizes the TV's audio system with the center channel of a compatible Sony soundbar turning it into the center speaker for the ultimate, immersive at-home experience. ² For consumers looking for an even more immersive sound experience, each model also works with Sony soundbars to offer 360 Spatial Sound Mapping ³ which generates phantom speakers and sound field optimization. New this year, the X95L features Acoustic Multi-Audio+™, using frame tweeters to elevate the sound in a way that matches the image on screen. The A95L and A80L models feature Acoustic Surface Audio+™ with actuators that vibrate to produce sound from the entire screen, perfectly matching with what's playing on screen.

The 2023 BRAVIA XR lineup also allows gamers to take their PlayStation® 5 gaming to the next level with exclusive features, including Auto HDR Tone Mapping and Auto Genre Picture Mode, for optimized picture quality while gaming and streaming. Other features include an easy-to-use Game Menu where gamers can tailor their settings to their preferences, such as turning on or off VRR or Motion Blur Reduction with quick access. The Game Menu also allows users to increase the brightness in dark areas to easily spot objects and opponents with the Black Equalizer and can easily take aim on their opponents with six types of crosshairs. New this year is the ability to customize the size of the screen with the Screen Size feature to concentrate gaming with a smaller, focused screen ⁴ . The A95L model also features Multi-View, where users can watch walk-throughs and gameplay guides side-by-side while simultaneously playing their favorite titles.

Additionally, Sony is keeping its commitment to decreasing plastic usage through its Road to Zero initiative. To reduce environmental impact, Sony is working on multiple aspects of the product life cycle, such as reduction of virgin plastic use, improvement of transportation efficiency and reviewing energy consumption during use. Additionally, the new Eco Dashboard included on all 2023 models allows users to easily customize energy saving preferences and settings.

"We are excited to bring a new lineup that continues to bring Sony's best spatial entertainment and gaming experiences with picture and sound," said Tyler Ishida , President of Sony Home Entertainment. "Sony is proud to offer a full suite of home entertainment options for all of our consumers."

Key BRAVIA XR lineup features:

Cognitive Processor XR with XR Clear Image: The Cognitive Processor XR replicates content the way people see and hear for an incredibly lifelike experience. The latest iteration of the Cognitive Processor XR for 2023 enters a new chapter in its development with advanced XR Clear Image. This technology further reduces noise and reduces blur in motion, creating scenes that burst with life.
Elevate the experience with Sony's sound products: Sony's new BRAVIA XR TVs are an excellent match for an array of Sony sound products, such as the HT-A9 Home Theater System or the HT-A7000, HT-A5000 and HT-A3000 soundbars. 360 Spatial Sound Mapping, a new frontier of spatial sound technology, is the latest addition to models HT-A7000 and HT-A5000. By calibrating sound to the chosen viewing room, the technology creates multiple optimally arranged phantom speakers for a wider and more immersive cinematic sound field. ³
Acoustic Center Sync: Pairs perfectly with Sony soundbars – Acoustic Center Sync synchronizes the TV speakers with select Sony soundbars and AV receivers to reinforce the center speaker channel for clearer, fuller dialogue and more immersive sound. When paired with Sony Home Audio products, consumers can expect a truly exceptional at-home movie viewing experience. ⁵^,6
XR Backlight Master Drive and Mini LED: Powered by Cognitive Processor XR™, the XR Backlight Master Drive uses a Sony-developed local dimming algorithm to control thousands of tiny, ultra-dense Mini LEDs with absolute precision and independence, delivering extraordinary brightness, impressive dynamic range, deep blacks and beautifully natural colors.
Perfect for PlayStation® 5 and new Gaming functions: Gamers can take their PlayStation® 5 gaming to the next level with exclusive features Auto HDR Tone Mapping and Auto Genre Picture Mode that optimize picture quality while gaming and streaming. ⁷ With the newly added Game Menu, it has never been easier to fine-tune gaming settings and assist functions. All the essentials are at the gamer's fingertips for on the fly adjustments. Additionally, the BRAVIA XR A95L features Multi View , making it easier than ever to watch walkthroughs side-by-side while the gamer plays their favorite titles.
BRAVIA CORE: The BRAVIA CORE ⁸ app is a pre-loaded movie service that comes with five, 10 or 15 movie credits to watch the latest releases and popular classics and additional movies up to 24 months of unlimited streaming, with the purchase of a BRAVIA XR TV. With BRAVIA XR technology, Pure Stream™ ⁹ and IMAX® Enhanced ¹⁰ , content is delivered with stunning visuals and expressive sound quality. Featuring BRAVIA CORE Calibrated Mode, movies will automatically adjust to the optimal picture settings including IMAX® Enhanced mode to create a truly exceptional at-home movie viewing experience. Over time, the app experience will be enriched with new features.
Crunchyroll® remote button: The Crunchyroll remote button ¹¹ gives BRAVIA users one-touch access to one of the world's largest anime libraries, a collection of more than 18,000 hours of anime, comprising more than 44,000 episodes and feature films, translated in multiple languages. Simulcasting is also accessible, so Japanese titles can be watched from abroad following broadcast in Japan . ¹²
BRAVIA CAM: BRAVIA CAM can detect the viewer's position to optimize the picture and sound according to room environment and viewing distance.
Google TV: See 700,000+ movies and TV episodes, plus live TV ¹³ , all in one place. Google TV brings everyone's favorite content from across apps and subscriptions and organizes them. Searching is easy- just ask Google. Try saying, "Hey Google, find action movies" to search across apps. ¹⁴
Built with sustainability in mind: During manufacturing, Sony is reducing overall plastic usage by approximately 60% ¹⁵ , and is cutting emissions by approximately 15% by using smaller and lighter packaging during transportation. ¹⁶
All Eco settings in one place: The Eco dashboard keeps all user settings in one place, making it easier to change them individually or in one go. With the Easy Setup option, users can optimize settings for their viewing environment.

New Sony TV Models and Key Features

BRAVIA XR X95L 4K HDR Mini LED Google TV:
[85" class (84.6" diag.)]

Intelligent and powerful TV processing: The Cognitive Processor XR replicates how we see the real world to deliver a picture with wide dynamic contrast, detailed blacks, high peak brightness, and natural colors.
Ultimate backlight control: XR Backlight Master Drive technology fine tunes the picture resulting in deep blacks and natural colors reinvigorating movies and games.
Mini LED contrast and color: See ultimate contrast from thousands of Mini LEDs and billions of accurate colors controlled by the precision of XR Backlight Master Drive and XR Triluminos Pro technologies.
Google TV: See 700,000+ movies and TV episodes, plus live TV10, all in one place. Google TV brings everyone's favorite content from across apps and subscriptions and organizes them. Searching is easy- just ask Google. Try saying, "Hey Google, find action movies" to search across apps. ¹¹
Enjoy movies included with BRAVIA CORE: Enjoy streaming high-quality 4K UHD and IMAX® Enhanced movies included with the BRAVIA CORE app, exclusively on select Sony TVs. ⁶^,⁸
Perfect for PlayStation® 5: Take PlayStation® 5 gaming to the next level with exclusive features Auto HDR Tone Mapping and Auto Genre Picture Mode for optimized picture quality while gaming and streaming. ⁶
All game settings in one place: With Game Menu, quickly manage game picture settings and assist functions in a single convenient interface.
HDMI 2.1 gaming: Get the advantage in high-performance gaming with HDMI 2.1 features 4K /120, VRR, and ALLM. ¹⁴
Picture and sound precisely aligned: With Acoustic Multi-Audio+ and Dolby Atmos support, frame tweeters, in addition to the TVs speakers, elevates the sound so what the user hears matches the picture they see. ⁴
Enhanced entertainment: Experience immersive and engaging cinematic content as the creator intended with support for IMAX Enhanced and Netflix Adaptive Calibrated Mode. ⁴^,¹¹^,17
More clarity, less noise: Bring back lost texture and detail, with reduced noise and blur, and see all HD and digital content upscaled to near-4K resolution with XR 4K Upscaling and XR Clear Image. ¹⁴
X-Anti Reflection & X-Wide angle: Minimizes reflection for a distraction-free viewing experience and provides vivid real-world colors from any angle while retaining brightness.
Pairs perfectly with Sony soundbars: Acoustic Center Sync synchronizes the TV speakers with select Sony soundbars to reinforce the center speaker channel for clearer, fuller dialogue and more immersive sound. ³
Enhanced TV experience with optional BRAVIA CAM: Allow BRAVIA CAM to automatically adjust picture and sound according to the room environment and seating location.
All Eco settings in one place: The Eco dashboard keeps all settings in one place, making it easier to change them individually or in one go. With an Easy Setup Wizard, optimize settings for the environment.

BRAVIA XR X93L 4K HDR Mini LED Google TV:
[85" class (84.6" diag.), 75" class (74.5" diag.), 65" class (64.5" diag.), ]

Intelligent and powerful TV processing: The Cognitive Processor XR replicates how we see the real world to deliver a picture with wide dynamic contrast, detailed blacks, high peak brightness, and natural colors.
Ultimate backlight control: XR Backlight Master Drive technology fine tunes the picture resulting in deep blacks and natural colors reinvigorating movies and games.
Mini LED contrast and color: See ultimate contrast from thousands of Mini LEDs and billions of accurate colors controlled by the precision of XR Backlight Master Drive and XR Triluminos Pro technologies.
Google TV: See 700,000+ movies and TV episodes, plus live TV10, all in one place. Google TV brings everyone's favorite content from across apps and subscriptions and organizes them. Searching is easy- just ask Google. Try saying, "Hey Google, find action movies" to search across apps. ¹¹
Enjoy movies included with BRAVIA CORE: Enjoy streaming high-quality 4K UHD and IMAX® Enhanced movies included with the BRAVIA CORE app, exclusively on select Sony TVs. ⁶^,⁸
Perfect for PlayStation® 5: Take PlayStation® 5 gaming to the next level with exclusive features Auto HDR Tone Mapping and Auto Genre Picture Mode for optimized picture quality while gaming and streaming. ⁶
All game settings in one place: With Game Menu, quickly manage game picture settings and assist functions in a single convenient interface.
HDMI 2.1 gaming: Get the advantage in high-performance gaming with HDMI 2.1 features 4K /120, VRR, and ALLM. ¹⁶^,¹⁴
Picture and sound precisely aligned: With Acoustic Multi-Audio and Dolby Atmos support, sound positioning tweeters, in addition to the TVs speakers, elevates the sound so what the user hears matches the picture they see. ⁴
Enhanced entertainment: Experience immersive and engaging cinematic content as the creator intended with support for Dolby Vision, IMAX® Enhanced, and Netflix Adaptive Calibrated Mode. ⁶^{^,}¹⁰^{^, 17}
X-Anti Reflection & X-Wide angle: Minimizes reflection for a distraction-free viewing experience and provides vivid real-world colors from any angle while retaining more brightness.
Pairs perfectly with Sony soundbars: Acoustic Center Sync synchronizes the TV speakers with select Sony soundbars to reinforce the center speaker channel for clearer, fuller dialogue and more immersive sound. ³
Enhanced TV experience with optional BRAVIA CAM: Allow BRAVIA CAM to automatically adjust picture and sound according to the room environment and seating location. ⁵
All Eco settings in one place: The Eco dashboard keeps all settings in one place, making it easier to change them individually or in one go. With an Easy Setup Wizard, optimize settings for the environment.

BRAVIA XR X90L 4K HDR Full Array LED Google TV:
[98" class (97.5" diag.), 85" class (84.6" diag.), 75" class (74.5" diag.), 65" class (64.5" diag.), 55" class (54.6" diag.)]

Intelligent and powerful TV processing: The Cognitive Processor XR replicates how we see the real world to deliver a picture with wide dynamic contrast, detailed blacks, high peak brightness, and natural colors.
Full Array LED contrast and color: With brightness approximately up to 130% compared to the previous year's model - the X90K has precisely controlled backlighting so the viewer can see enhanced contrast and billions of accurate colors, controlled by XR Contrast Booster and XR Triluminos Pro technologies.
Google TV: See 700,000+ movies and TV episodes, plus live TV10 all in one place. Google TV brings everyone's favorite content from across apps and subscriptions and organizes them. Searching is easy- just ask Google. Try saying, "Hey Google, find action movies" to search across apps. ¹¹
Enjoy movies included with BRAVIA CORE: Enjoy streaming high-quality 4K UHD and IMAX® Enhanced movies included with the BRAVIA CORE app, exclusively on select Sony TVs. ⁶^{^, 8}
Perfect for PlayStation® 5: Take PlayStation® 5 gaming to the next level with exclusive features Auto HDR Tone Mapping and Auto Genre Picture Mode for optimized picture quality while gaming and streaming. ⁶
All game settings in one place: With Game Menu, quickly manage game picture settings and assist functions in a single convenient interface. ^{14, 16}
HDMI 2.1 gaming: Get the advantage in high-performance gaming with HDMI 2.1 features 4K /120, VRR, and ALLM. ¹⁶^,¹⁴
Picture and sound precisely aligned: With Acoustic Multi-Audio and Dolby Atmos support, sound positioning tweeters, in addition to the TVs speakers, elevates the sound so what the user hears matches the picture they see. ⁴
Enhanced entertainment: Experience immersive and engaging cinematic content as the creator intended with support for Dolby Vision, IMAX® Enhanced, and Netflix Adaptive Calibrated Mode. ⁶^{^, 10 ^, 17}
More clarity, less noise: Bring back lost texture and detail, with reduced noise and blur, and see all HD and digital content upscaled to near-4K resolution with XR 4K Upscaling and XR Clear Image. ¹⁴
Pairs perfectly with Sony soundbars: Acoustic Center Sync synchronizes the TV speakers with select Sony soundbars to reinforce the center speaker channel for clearer, fuller dialogue and more immersive sound. ³
Enhanced TV experience with optional BRAVIA CAM: Allow BRAVIA CAM to automatically adjust picture and sound according to the room environment and seating location. ⁵
All Eco settings in one place: The Eco dashboard keeps all settings in one place, making it easier to change them individually or in one go. With an Easy Setup Wizard, optimize settings for the environment.

BRAVIA XR A95L 4K HDR QD-OLED Google TV
[77" class (76.7" diag.), 65" class (64.5" diag.), 55" class (54.6" diag.)]

Intelligent and powerful TV processing: The Cognitive Processor XR replicates how we see the real world to deliver a picture with wide dynamic contrast, detailed blacks, high peak brightness, and natural colors.
QD-OLED Screen: With a QD-OLED screen, enhanced by XR Triluminos Max technology, experience color performance with approximately 200% brighter than the A95K with enhanced color brightness.
Definitive contrast: Individually lit pixels produce pure black so movies, shows, and games burst to life on screen with extraordinary detail and depth.
Google TV: See 700,000+ movies and TV episodes, plus live TV10, all in one place. Google TV brings everyone's favorite content from across apps and subscriptions and organizes them. Searching is easy- just ask Google. Try saying, "Hey Google, find action movies" to search across apps. ¹¹
Enjoy movies included with BRAVIA CORE : Enjoy streaming high-quality 4K UHD and IMAX® Enhanced movies included with the BRAVIA CORE app, exclusively on select Sony TVs. ¹⁰^,⁸
Perfect for PlayStation® 5: Take PlayStation® 5 gaming to the next level with exclusive features Auto HDR Tone Mapping and Auto Genre Picture Mode for optimized picture quality while gaming and streaming. ⁶
All game settings in one place: With Game Menu, quickly manage game picture settings and assist functions in a single convenient interface.
HDMI 2.1 gaming: Get the advantage in high-performance gaming with HDMI 2.1 features 4K /120, VRR, and ALLM. ¹⁴^,
Enhanced entertainment: Experience immersive and engaging cinematic content as the creator intended with support for Dolby Vision, IMAX® Enhanced, and Netflix Adaptive Calibrated Mode. ^6,10
The screen is the speaker: With Acoustic Surface Audio+ and Dolby Atmos and DTS:X support, hear true immersive audio with actuators that vibrate to produce sound from the entire screen perfectly matching with what's playing on screen. ³
More clarity, less noise: Bring back lost texture and detail, with reduced noise and blur, and see all HD and digital content upscaled to near-4K resolution with XR 4K Upscaling and XR Clear Image. ¹⁴
Pairs perfectly with Sony soundbars: Acoustic Center Sync synchronizes the TV speakers with select Sony soundbars to reinforce the center speaker channel for clearer, fuller dialogue and more immersive sound. ³
Enhanced TV experience with included BRAVIA CAM: Allow BRAVIA CAM to automatically adjust picture and sound according to the room environment and seating location. ⁵
All Eco settings in one place: The Eco dashboard keeps all settings in one place, making it easier to change them individually or in one go. With an Easy Setup Wizard, optimize settings for the environment.

BRAVIA XR A80L 4K HDR OLED Google TV:
[83" class (82.5" diag), 77" class (76.7" diag), 65" class (64.5" diag.), 55" class (54.6" diag.)]

Intelligent and powerful TV processing: The Cognitive Processor XR replicates how we see the real world to deliver a picture with wide dynamic contrast, detailed blacks, high peak brightness, and natural colors.
Acoustic Surface Audio+: With Acoustic Surface Audio+ and Dolby Atmos support, hear true immersive audio with actuators that vibrate to produce sound from the entire screen perfectly matching with what's playing on screen. ⁴
OLED contrast and color: XR OLED Contrast Pro and XR Triluminos Pro technologies allow the consumer to feel the beauty of OLED with brightness approximately 110% compared to the previous year's model - the A80K, with immersive depth and realism, pure black, detailed shadows, and billions of accurate colors.
Google TV: See 700,000+ movies and TV episodes, plus live TV10, all in one place. Google TV brings everyone's favorite content from across apps and subscriptions and organizes them. Searching is easy- just ask Google. Try saying, "Hey Google, find action movies" to search across apps. ¹¹
Enjoy movies included with BRAVIA CORE: Enjoy streaming high-quality 4K UHD and IMAX® Enhanced movies included with the BRAVIA CORE app, exclusively on select Sony TVs. ⁶^{^, 8}
Perfect for PlayStation® 5: Take PlayStation® 5 gaming to the next level with exclusive features Auto HDR Tone Mapping and Auto Genre Picture Mode for optimized picture quality while gaming and streaming. ⁶
All game settings in one place: With Game Menu, quickly manage game picture settings and assist functions in a single convenient interface.
HDMI 2.1 gaming: Get the advantage in high-performance gaming with HDMI 2.1 features 4K /120, VRR, and ALLM. ¹⁴
Enhanced entertainment: Experience immersive and engaging cinematic content as the creator intended with support for Dolby Vision, IMAX® Enhanced, and Netflix Adaptive Calibrated Mode. ⁴^,¹¹^,¹⁵
More clarity, less noise: Bring back lost texture and detail, with reduced noise and blur, and see all HD and digital content upscaled to near-4K resolution with XR 4K Upscaling and XR Clear Image. ¹⁴
Pairs perfectly with Sony soundbars: Acoustic Center Sync synchronizes the TV speakers with select Sony soundbars to reinforce the center speaker channel for clearer, fuller dialogue and more immersive sound. ³
Enhanced TV experience with optional BRAVIA CAM: Allow BRAVIA CAM to automatically adjust picture and sound according to the room environment and seating location. ⁵
All Eco settings in one place: The Eco dashboard keeps all settings in one place, making it easier to change them individually or in one go. With an Easy Setup Wizard, optimize settings for the environment.

Pricing and Availability
Suggested retail price and retail availability will be announced in spring 2023. For more information on new Sony television models, please watch Sony's BRAVIA XR announcement video here or visit the BRAVIA XR website: https://electronics.sony.com/bravia-xr-TV .

To learn more about each US model, please visit the links below:

For more information regarding pricing and availability in Canada , please visit: https://www.sony.ca/en/bravia .

To learn more about each CA model, please visit the links below:

For more information on all Sony televisions, please visit https://electronics.sony.com/tv-video/televisions/c/all-tvs .

For more information on all Sony soundbars, please visit https://electronics.sony.com/tv-video/tv-video-home-theater-sound-bars/c/soundbars .

About Sony Electronics Inc.

Sony Electronics is a subsidiary of Sony Corporation of America and an affiliate of Sony Group Corporation, one of the most comprehensive entertainment companies in the world, with a portfolio that encompasses electronics, music, motion pictures, mobile, gaming, robotics, and financial services. Headquartered in San Diego, California , Sony Electronics is a leader in electronics for the consumer and professional markets. Operations include research and development, engineering, sales, marketing, distribution and customer service. Sony Electronics creates products that innovate and inspire generations, such as the award-winning Alpha Interchangeable Lens Cameras and revolutionary high-resolution audio products. Sony is also a leading manufacturer of end-to-end solutions from 4K professional broadcast and A/V equipment to industry leading 4K and 8K Ultra HD TVs. Visit https://www.sony.com/news for more information.

¹ Download app at Google Play and the App Store. Network services, content, and operating system and software subject to terms and conditions and may be changed, interrupted or discontinued at any time and may require fees, registration and credit card information. XR Clear Image feature will be available via firmware update in Spring 2023.
² Except for X93L
³ To use 360 Spatial Sound Mapping, it is necessary to run the auto calibration on the receiver using the supplied calibration microphone that comes with the receiver. 360 Spatial Sound Mapping can work with passive speakers and compatible wireless rear speakers (SA-RS3S & SA-RS5) but they must be connected to the receiver for the calibration.
⁴ Firmware update for Screen Size feature will be available by 2023.
⁵ Compatible soundbars: HT-A9, HT-A7000, HT-A5000, HT-A3000
⁶ Dolby Vision and Atmos content compatible with streaming services or compatible content device connected via HDMI input (sold separately).
⁷ To activate Auto HDR Tone Mapping, must enable feature when pairing TV and PS5 for the first time; or will need to disconnect TV and PS5, perform factory reset on PS5 and enable the feature during initial setup. Auto Genre Picture Mode works when Auto Picture Mode on the TV is set to ON. Both features are supported only when PS5 and TV are directly connected. Applicable models: All BRAVIA XR models, X85K, X80K.
⁸ Purchase an eligible TV and register for BRAVIA CORE™ by February 23, 2026 to be eligible for promotion offers. Available movies subject to change. Terms and conditions apply, for more details see https://www.sony.net/bravia-core . Network services, content, and operating system and software of product may be subject to separate or third-party terms and conditions and changed, interrupted, or discontinued at any time and may require fees, registration, and credit card information.
⁹ User must setup broadband network environment. By default, Pure Stream setting is turned OFF and must be turned ON in BRAVIA CORE settings. BRAVIA CORE offers streaming between 30Mbps-80Mbps once user turns ON Pure Stream. To access Pure Stream at 30Mbps, user must have a minimum internet speed of 43Mbps over Wi-Fi. To access highest quality Pure Stream available at 80Mbps user must have minimum internet speed of 115Mbps over Wi-Fi. Subject to user's network operator's video streaming restrictions, BRAVIA CORE automatically selects the best bitrate as following with adaptive streaming functionality based on the internet speed available.
¹⁰ IMAX® Enhanced content enables a full IMAX® Enhanced experience on IMAX® Enhanced Certified BRAVIA TV with compatible streaming services such as BRAVIA CORE, or compatible content devices such as Blu-ray players, connected via HDMI input (sold separately).
¹¹ Button coverage regions: Americas, Europe and a part of Asia pacific.
¹² Features, content, and availability of programming are subject to subscriber status and vary by region. Additional licensing restrictions may apply.
¹³ Live TV capability not available in Canada
¹⁴ User must accept Google Terms of Service ( https://www.google.com/policies/terms/ ), Play Terms of Service ( https://play.google.com/intl/en-US_us/about/play-terms/index.html ) and Privacy Policy ( https://www.google.com/policies/privacy/ ) to use TV. User must connect to a Google account to use certain advertised features, including voice to activate linked apps, and install certain apps and operating software during setup. Use of TV without connecting to a Google account allows only basic TV features and certain apps. Wireless connectivity requires 802.11 home network (802.11n recommended). Network services, content, operating system, and software of this product may be subject to separate or third-party terms and conditions and changed, interrupted or discontinued at any time and may require fees, registration and credit card information. Apps must be compatible with TV. App availability varies by region and device.
¹⁵ The products with 60% reduction are only available with certain models and in certain regions.
¹⁶ The 15% is compared to FY18 models. The ratio may vary by model.
¹⁷ Netflix streaming membership required. 4K Ultra HD availability subject to your Netflix subscription plan, internet service, device capabilities, and content availability. www.netflix.com/termsofuse .

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SOURCE Sony Electronics, Inc.

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NorthStar Gaming Announces Revocation of Management Cease Trade Order

NorthStar Gaming Holdings Inc. (TSXV: BET) (OTCQB: NSBBF) ("NorthStar" or the "Company") is pleased to announce that effective May 16, 2025, the Ontario Securities Commission has revoked the temporary management cease trade order ("MCTO") it had previously granted to the Company on May 8, 2025 under National Policy 12-203 Management Cease Trade Orders, as the Company successfully completed the filing of its annual audited financial statements, management's discussion and analysis, and related certifications for the year ended December 31, 2024 (collectively, the "Annual Filings") on May 14, 2025.

The revocation of the MCTO means members of management are no longer prevented from trading the Company's securities. All of the Annual Filings are available under the Company's profile on SEDAR+ at www.sedarplus.ca.

News Provided by Newsfile via QuoteMedia

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NorthStar Gaming Reports Year-End 2024 Results

Annual Revenue Growth of 57%, Gross Margin up 91%

NorthStar Gaming Holdings Inc. (TSXV: BET) (OTCQB: NSBBF) ("NorthStar" or the "Company") today announced its financial results for the three months and year ended December 31, 2024. The Company also announced that it will discuss the results on an investor webinar to be held Thursday, May 15, 2025 at 11:00am (please see below for details). All dollar figures are quoted in Canadian dollars.

"We delivered strong financial results in 2024, highlighted by 57% growth in revenue and a 91% increase in gross margin. At the same time, we held marketing expense to a 10% increase and reduced G&A expense, demonstrating the continually improving operating leverage built into our business model," said Michael Moskowitz, Chair and CEO of NorthStar. "Equally important, our team rolled out innovations in both our sportsbook and casino that have further differentiated NorthStar Bets as a premium offering and helped drive the retention of, and engagement with, our loyal customers."

Restatement of Results

The comparative results for the three months and twelve months ended December 31, 2023 have been restated in the financial statements and management's discussion & analysis ("FY2024 MD&A") for the year ended December 31, 2024 to include additional merchant fees and player bonus expenses which were not captured in the previously published financial statements (note 2 of the Financial Statements for the year ended December 31, 2024). The Company's payment processor deducted the additional merchant fee from the daily remittances to the Company, and the deductions were not accounted for by the Company. These additional fees were identified as part of the year-end reconciliation of the amount due from the payment processor, and the financial statements and FY2024 MD&A have been adjusted accordingly. These restatements did not impact the cash balances reported for the years ended December 31, 2022, 2023, or 2024. However, they did result in adjustments to the reported current asset balances for those periods.

Financial Highlights for the Fourth Quarter Ended December 31, 2024 ("Q4 2024"):

Total Wagers¹ at Northstarbets.ca were $303.0 million in Q4 2024, a 42% increase compared to $213.3 million in Q4 2023.
Gross Gaming Revenue² at Northstarbets.ca was $10.0 million in Q4 2024, a 31.6% increase from $7.6 million in Q4 2023.
Revenue² was $9.5 million in Q4 2024, a 51% increase from $6.3 million in Q4 2023. Revenue in Q4 2024 includes $1.5 million of managed services revenue, which compares to $0.2 million in Q4 2023.
Gross Margin was $3.6 million, a 71% increase from $2.1 million in Q4 2023, while the Gross Margin percentage increased to 38.1%, up from 33.6% in Q4 2023.
Profit/(loss) before marketing and other expenses¹ was $0.6 million in Q4 2024 compared to a loss of $2.5 million in Q4 2023, indicating that gross margin is now sufficient to cover the Company's overhead expenses.

Financial Highlights for the Year Ended December 31, 2024 ("FY 2024"):

Total Wagers² at Northstarbets.ca were $980.0 million in FY 2024, a 51% increase compared to $648.8 million in the year ended December 31, 2023.
Gross Gaming Revenue² at Northstarbets.ca was $34.0 million in FY 2024, a 51% increase from $22.5 million in FY 2023.
Revenue² was $29.6 million in FY 2024, a 57% increase from $18.8 million in FY 2023. Revenue in FY 2024 includes $2.3 million of managed services revenue, which compares to $0.5 million in FY 2023.³
Gross Margin was $10.5 million, marking a 91% increase from $5.5 million in FY 2023, with the Gross Margin increasing to 35.7%, up from 29.3% in FY 2023.
Profit/(loss) before marketing and other expenses¹ was $0.1 million in FY 2024 compared to a loss of $6.7 million in YTD 2023, an improvement of $6.8 million.

"Early in 2025, we completed our most significant fund-raising to date, with a $43.4 million debt financing. This capital gives us a long runway on which to continue our trajectory of growth in wagering, gross margins and improving operating leverage. This was a milestone event for our business," added Mr. Moskowitz.

2024 Operating Highlights:

Completed the inaugural Blackjack Championship tournament, an innovative online competition that helped drive the acquisition of new high-value players and engagement for existing customers while increasing Blackjack wagering activity.
Implemented a series of enhancements to the NorthStar Bets platform, highlighted by streamlined navigation in both the Casino and Sportsbook sections, a doubling of Casino game selection since the start of 2024, personalized prop bets and intelligent parlay suggestions.
Introduced the "NorthStar Elite" program and branded tables to help secure the loyalty and satisfaction of our most active players and reinforcing the Company's positioning as a premium offering.
Launched "Sports Insights 2.0," a robust suite of enhancements to our content vertical that includes a redesigned home page, comprehensive team and player statistics, injury and player news feeds, added coverage of popular sports and strengthened casino content.
Gained significant traction outside the Ontario market with managed services revenue from Northstarbets.com site, owned by the Abenaki Council of Wolinak, increasing from $0.5 million in FY 2023 to $2.3 million in FY 2024.
Outpaced the industry growth rates reported by iGaming Ontario in 2024 in both Total Wagers (51% for NorthStar vs. 33% for the industry) and Gross Gaming Revenue (51% for NorthStar vs. 31.5% for the industry).

Outlook

"We expect our consistent pattern of year-over-year revenue increases to continue throughout 2025, based on our ongoing success in attracting and engaging high-value players," said Mr. Moskowitz. "We will maintain disciplined control over costs so that incremental gross margin falls primarily to the bottom line. As we continue to focus on operational excellence, we remain confident that we have the capital necessary to reach profitability based on our current business platform."

FY 2024 Corporate Update Webinar

On May 15, 2025, Michael Moskowitz will present an in-depth Corporate Update, including a discussion of the Company's FY 2024 Earnings, current operations and strategic priorities. All investors and other interested parties are invited to register for the webinar at the link below.

Date: Thursday, May 15, 2025
Time: 11:00 am EDT
Register: Webinar Registration

Management will be available to answer your questions following the presentation on the webinar platform. You may also submit your question(s) beforehand in the registration form linked above.

Extension of Strategic Marketing Agreement

The Company also announced that its wholly owned subsidiary, NorthStar Gaming (Ontario) Inc. ("NorthStar Ontario"), has extended its strategic partnership with Playtech Software Limited ("Playtech Software") through the renewal of their previously announced strategic marketing agreement. Under the agreement, Playtech Software contributes services designed to accelerate NorthStar Ontario's player acquisition strategy in the province. The agreement was first implemented in June 2023 and has since been renewed several times. Pursuant to the latest renewal, Playtech Software will reimburse marketing expenses valued at a total of up to $1.5 million over a 3-month period through to March 31, 2025. Playtech Software will be compensated through a share of revenue from the income generated in connection with the marketing initiatives to which it contributes. The Transaction between Playtech and NorthStar Ontario is exempted from Multilateral Instrument 61-101 Protection of Minority Securityholders in Special Transactions.

"We are very pleased to renew the marketing services agreement with Playtech Software," said Michael Moskowitz, Chair and CEO of NorthStar. "The agreement serves to extend our marketing budget and has contributed to our tremendous growth in Ontario. Playtech plc continues to be a valuable strategic partner and we look forward to further collaboration."

Continuous Disclosure

Further to a review by the staff of the Ontario Securities Commission (the "OSC") of the Company's continuous disclosure, the FY2024 MD&A includes enhanced disclosures with respect to:

the Company's regulatory framework, licensing regimes applicable to its business operations and the legal authorizations necessary to conduct its business operations;
specific risk factors relating to the Company's business operations which include risks relating to operating in a heavily regulated industry, cyber security risks and risks relating to conflicts of interest with respect to directors and officers of the Company; and
the relationship between the Abenaki Council of Wolinak and the Company as well as its subsidiary, Slapshot Media Inc.

Such amended disclosure is being included in the FY2024 MD&A to address comments received from the OSC on its management's discussion & analysis, for the period ended September 30, 2024, and to improve the Company's disclosure.

As a result of having to include such enhanced disclosure after the OSC review, the Company will be placed on the public list of Refilings and Errors in accordance with OSC Staff Notice 51-711 (Revised) - Refilings and Corrections of Errors for a period of three (3) years.

Additional Information

For additional information, please refer to the Company's condensed consolidated financial statements for the year ended December 31, 2024, and the corresponding FY2024 MD&A. These documents are available on SEDAR+ at www.sedarplus.ca, and on the Company's corporate website at www.northstargaming.ca.

About NorthStar

NorthStar proudly owns and operates NorthStar Bets, a Canadian-born casino and sportsbook platform that delivers a premium, distinctly local gaming experience. Designed with high-stakes players in mind, NorthStar Bets Casino offers a curated selection of the most popular games, ensuring an elevated user experience. Our sportsbook stands out with its exclusive Sports Insights feature, seamlessly integrating betting guidance, stats, and scores, all tailored to meet the expectations of a premium audience.

As a Canadian company, NorthStar is uniquely positioned to cater to customers who seek a high-quality product and an exceptional level of personalized service, setting a new standard in the industry. NorthStar is committed to operating at the highest level of responsible gaming standards.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange ("TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

Non-IFRS Financial Measures [/ Reconciliation of Non-IFRS Measures to IFRS Measures]

Throughout this document, management uses certain non-IFRS financial measures and supplementary financial measures to evaluate the performance of the Company. The terms "Gross Gaming Revenue" "Total Wagers" and "Profit/(Loss) before marketing and other expenses" are non-IFRS financial measures. These measures are not recognized measures under International Financial Reporting Standards ("IFRS") and do not have a standardized meaning prescribed by IFRS and are, therefore, not necessarily comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of our results of operations from management's perspective and to discuss NorthStar's financial outlook. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of the Company's financial information reported under IFRS. We believe that securities analysts, investors and other interested parties frequently use non-IFRS measures, including industry metrics, in the evaluation of companies in our industry. Management also uses non-IFRS measures and industry metrics in order to facilitate operating performance comparisons from period to period, the preparation of annual operating budgets and forecasts and to determine components of executive compensation.

Total Wagers

Total Wagers are calculated as the total amount of money bet by customers in respect of bets that have settled in the applicable period. Total Wagers does not include free bets or other promotional incentives, nor money bet by customers in respect of bets that are open at period end. Total Wagers is used to provide investors with supplemental measures of our operating performance and thus highlight trends in our business that may not otherwise be apparent when relying solely on IFRS measures.

Gross Gaming Revenue

Gross Gaming Revenue is calculated as dollar amounts bet by customers less the dollar amounts paid out to the customers in respect of such bets which have settled in the applicable period.

Reconciliation of Non-IFRS Measures to IFRS Measures

In Q4 2024, the Company reported $10.0 million of Gross Gaming Revenue ($34.0 million in FY 2024) and has provided a reconciliation to the most comparable IFRS financial measure (Revenue) as follows: $ Millions (unaudited)	Unaudited Three months ended		Year ended
	Dec 31, 2024	Dec 31, 2023	Dec 31, 2024	Dec 31, 2023
Gross gaming revenue from wagered games	$10.0	$ 7.6	$ 34.0	$22.5
Bonuses, promotional costs and free bets	(2.0)	(1.5)	(6.7)	(4.2)
Sub-total Gaming revenue	8.0	6.1	27.3	18.3
Other revenue from managed services	1.5	0.2	2.3	0.5
Revenue	$ 9.5	$ 6.3	$ 29.6	$ 18.8

Operating Results

Marketing expenses are a key driver of the business but are completely discretionary. Management considers "Profit/(Loss) before marketing and other expenses" to be a good indication of the extent to which the business' Gross Margin is in excess of its overhead costs, and therefore offsetting some portion of marketing expenses, reflecting improving economies of scale.

$ Millions (unaudited)	Unaudited Three months ended		Year ended
$ Millions (unaudited)	Dec 31, 2024	Dec 31, 2023	Dec 31, 2024	Dec 31, 2023
Revenue	$ 9,478	$ 6,275	$ 29,556	$ 18,845
Cost of Revenues	5,868	4,167	19,013	13,317
Gross Margin	3,610	2,108	10,543	5,528
General and administrative expenses	3,033	4,452	10,453	12,277
Profit/(Loss) before marketing and other expenses (1)	577	(2,344)	90	(6,749)
Marketing	5,249	5,472	15,456	14,094
Loss before other expenses (1)	(4,672)	(7,816)	(15,366)	(20,843)
Other expenses	(1,070)	149	3,645	6,547
Net loss	$ (3,602)	$ (7,965)	$ (19,011)	$ (27,390)

(1) These measures are not defined by IFRS, do not have standard meanings and may not be comparable with other industries or companies.

Cautionary Note Regarding Forward-Looking Information and Statements

This communication contains "forward-looking information" within the meaning of applicable securities laws in Canada ("forward-looking statements"), including without limitation, statements with respect to the following: expected performance of the Company's business, the Company's growth plans being fully funded, expansion into new markets and future growth opportunities, and expected benefits of transactions. The foregoing are provided for the purpose of presenting information about management's current expectations and plans relating to the future and allowing investors and others to get a better understanding of the Company's anticipated financial position, results of operations, and operating environment. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates" or "believes", or variations of, or the negatives of, such words and phrases, or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. This forward-looking information is based on management's opinions, estimates and assumptions that, while considered by NorthStar to be appropriate and reasonable as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, among others, the following: risks related to the Company's business and financial position; risks associated with general economic conditions; adverse industry risks; future legislative and regulatory developments; the ability of the Company to implement its business strategies; and those factors discussed in greater detail under the "Risk Factors" section of the Company's most recent annual information form, which is available under NorthStar's profile on SEDAR+ at www.sedarplus.ca. Many of these risks are beyond the Company's control.

If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking statements. Although the Company has attempted to identify important risk factors that could cause actual results to differ materially from those contained in the forward-looking statements, there may be other risk factors not presently known to the Company or that the Company presently believes are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking statements. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. No forward-looking statement is a guarantee of future results. Accordingly, you should not place undue reliance on forward-looking information, which speaks only as of the date made. The forward-looking information contained in this press release represents NorthStar's expectations as of the date specified herein, and are subject to change after such date. However, the Company disclaims any intention or obligation or undertaking to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws.

All of the forward-looking information contained in this press release is expressly qualified by the foregoing cautionary statements.

For further information:

Company Contact:

Corey Goodman
Chief Development Officer 647-530-2387
investorrelations@northstargaming.ca

Investor Relations:
RB Milestone Group LLC (RBMG)
Northstar@rbmilestone.com

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Investor Insight

Overview

Financial Performance

Company Highlights

Key Brands

NorthStarBets.ca

NorthStarBets.com

Management Team

Michael Moskowitz – CEO and Chairman

Corey Goodman – Chief Development Officer, Counsel and Corporate Secretary

Chin Dhushenthen – Chief Financial Officer

Barry Shafran – Lead Director

Vic Bertrand – Director

Brian Cooper – Director

Sylvia Prentice – Director

Dean MacDonald – Director

Chris McGinnis – Director

Alex Latner – Director, General Counsel, Playtech

Mike Cormack – Head of Content & Integrations

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