The TLDR of this is that Playstation announced a gamepass-esque subscription service for their platforms. Pretty big news for people who use PS consoles!

Tiers

Playstation Plus Essential ($60 yearly)

The regular PS+ subscription as it is today. Play multiplayer, receive exclusive discounts and 2 free games per month for your system.

Playstation Plus Extra ($100 yearly)

Everything essential has plus a catalog of “up to 400 of the most enjoyable PS4 and PS5 games – including blockbuster hits from our PlayStation Studios catalog and third-party partners” available to download and play.

They’ve yet to say what the ~400 games are, but they did give a few examples: Death Stranding, God of War, Marvel’s Spider-Man, Marvel’s Spider-Man: Miles Morales, Mortal Kombat 11, and Returnal.

Quite a good deal if you’re already paying for Plus, shelling out an extra 40 for a ton of games might be worthwhile.

Playstation Plus Premium ($120 yearly)

Everything Extra has plus another ~340 games including games that are available to stream online such as ps3, ps2, ps1, and psp games.

Essentially this is a replacement of PS Now, and current PS Now users will still be able to access cloud games through this service.

Seems a little weird to make cloud games the highest tier but I guess they know most people are uninterested in it anyways.