Best answer: Unfortunately, there's no concrete answer on this yet, but it appears to not be the case. It looks like only PS4 titles will be playable on PS5.
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Will the PlayStation 5 support PS3 titles?
Sony has made no secret that the PlayStation 5 will be backward compatible. However, it hasn't specified just how far back that will go. PlayStation CEO Jim Ryan has spoken about backward compatibility before, but it's been strictly about the PlayStation 4. Because the company is looking into it, however, many are wondering if PlayStation 2 or PS3 titles will also be supported.
Adding to the rumors are the facts that Sony has filed patents related to backward compatibility, leading many to believe that the next PlayStation will offer it with every past PlayStation console. The patent itself is for an emulation software that would allow the PS5 to mimic older consoles, but it's important to note that this could just be something that Sony is looking into, and not something that is definitively coming to the PS5.
Will the PlayStation 5 support backward compatibility?
According to Sony, yes. Early in the PlayStation 5's announcement history, lead console architect Mark Cerny said that the PS5 would be backward compatible with PlayStation 4 games, due in part to the console using some of the PS4's architecture. This marks a big step for the console, as the PlayStation 4 did not feature any backward compatibility for PlayStation 3 games.
While we know that PlayStation 4 games will be available to play on the PS5, this doesn't exactly mean past Sony titles will be as well. The PS4's architecture being involved in the PS5 is a big reason for the backward compatibility (it makes it easier to constitute it, basically), so we'll have to wait and see if Sony is able to achieve the same goals with titles that are older. However, many rumors have sprouted up that titles across every PlayStation will be available, which would not only give access fans to an incredible library of games, but would also allow players to do more with their console.
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