Best answer: The PS4 has a Blu-ray disc player, and while it's great if you're watching regular Blu-rays in 1080p, users will need to grab a dedicated Blu-ray player for 4K UHD Blu-rays.
Not all Blu-rays are created equal
Regular Blu-ray brought physical media from 480p to 1080p so everyone could enjoy HD movies with better sound. Ultra High Definition, or UHD Blu-rays, bring the resolution up to 4K and frequently include extras like HDR video and Dolby Atmos audio support.
Put plainly, the difference between watching a Blu-ray and a UHD Blu-ray on a 4K UHD TV with a decent sound system is noticeable. It's also worth pointing out UHD Blu-rays are frequently more expensive than normal ones, but in many releases often include a standard Blu-ray for those interested in future-proofing their movie collection.
You'll need something more for 4K
The Blu-ray player in all versions of the PS4, from the original released in 2013 to the 4K-ready Pro model released in 2016, is a standard 1080p Blu-ray player. Because it uses the same processor used to play visually intense games, it's one of the faster Blu-ray players you can buy. The control interface uses the PS4 controller by default, but you can pick up a PlayStation 4 Universal Media Remote if you'd rather have a traditional remote. Your PlayStation also has access to basically every streaming app ever, so if you use your PS4 as a Blu-ray player, you can also use it to stream everything else. You can even watch live TV on it, with a PlayStation Vue subscription.
If you're after 4K Blu-rays, you're looking at a standalone player, or an Xbox One X.
This is an excellent Blu-ray player for an HD TV, offering a ton of features with room for expansion, but if you use a 4K TV, it's not quite 100% anymore. This console lacks UHD Blu-ray support, even in the 4K-enabled PlayStation 4 Pro, which means you won't be able to play UHD Blu-rays and enjoy things like Dolby Atmos audio support with your 4K HDR video. You can use the PS4 Pro to stream 4K, but the lack of UHD Blu-ray support makes it less than ideal for getting the best possible picture on your 4K TV.
So how good is the PS4 at playing Blu-rays? It depends on what you want. If you have a 4K TV with a killer sound system, you're better off getting a standalone UHD Blu-ray Player or an Xbox One X if you have one.
But if you haven't made the upgrade to 4K and aren't planning to anytime soon, the PS4 Blu-ray player is fantastic. You'll be able to watch your 1080p Blu-rays with their full sets of features, and because Sony constantly updates the PS4, you can rest assured that it will remain a solid player throughout the life of the Blu-ray format.
A well-rounded entertainment machine.
While the PS4's primary function is playing awesome games, it can also play Blu-ray discs just fine. Thanks to the boost in power with the PlayStation 4 Pro, you can now play 4K Blu-ray discs as well, although it does not support UHD or Dolby Atmos.
Upgrade to 4K
Watch everything in 4K.
Sony's UBP-X700 has everything you need to play 4K UHD Blu-rays. It features HDR and Dolby Vision support, has tons of streaming apps, and can even upscale 1080p content to 4K to make for a sharper image.
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