Update May 27: According to a report from Bloomberg, the alleged Sony event is set to take place on June 3, though this date isn't final as anything can change with the ongoing pandemic. Sony is not expected to reveal all PS5 information at this time, and instead plans to hold other presentations throughout the summer.
There's been a rumored PlayStation 5 reveal event set to take place every month this year, and while nothing has materialized yet, that is set to change. According to VentureBeat's Jeff Grubb, PlayStation allegedly plans to hold an event in early June. His sources indicated that the event was originally planned for June 4, but that appears to have changed by a matter of days.
This event is expected to showcase a variety of PS5 launch games, from both first-party and third-party developers. There is speculation that Horizon Zero Dawn 2 will be one of the titles shown, but this has not been confirmed. It's unclear whether Sony will choose to finally show off the PS5 design at this time.
Regardless of whether this event actually happens in early June or not, it has to happen sooner rather than later. By all accounts, the PlayStation 5 is still on track for a holiday 2020 release alongside Microsoft's Xbox Series X, the latter of which we know a great deal more about. Microsoft has been very forthcoming with Xbox Series X information, in stark contrast to Sony's drip-feed strategy of revealing the PS5's logo and the DualSense controller.
In an investor call this earlier this month Sony CFO Hiroki Totoki responded to a question about its next-gen marketing, or lack thereof.
We consider things strategically but doing our best. As for pass or fail, I would wait for PS5 sales to make that judgement.
It's no surprise that Sony is confident when it comes to console sales. The PlayStation 4 has sold upwards of 110 million units worldwide, passing the 100 million milestone last July. Xbox One, by comparison, has sold an estimated 40 - 50 million units, though it's difficult to determine because Microsoft stopped reporting Xbox One hardware sales figures in favor of bringing attention to its software and services like Xbox Live and Xbox Game Pass.
With Ghost of Tsushima's State of Play behind the company and The Last of Us' State of Play coming up, PlayStation likely wanted to give some of the spotlight to its upcoming PS4 exclusives before shifting gears and promoting the PlayStation 5.
All eyes are on PlayStation in the coming week, even though Sony hasn't formally announced a PS5 event. Only time will tell, but at the very least, we'll be learning a lot more about its "compelling lineup of titles" very soon.