Sony canceled PlayStation Experience 2018, the annual video game conference held in North America since 2014, igniting rumors that the PlayStation 5 announcement will be coming soon.

PlayStation 5 rumors have been circulating for a while, but how is the next-generation console connected to the missing PlayStation Experience?

PSX 2018 Schedule: None This Year

PlayStation Experience has been one of Sony's most important events in recent years. In PlayStation Experience 2017, for example, the opening ceremony included an on-stage demo of Detroit: Become Human, a Soul Calibur VI gameplay trailer, and the revival of a classic series with MediEvil Remastered. Last year's PlayStation Experience also held a panel that focused on the highly anticipated The Last of Us Part II.

Sony, however, decided that it will not be holding the PlayStation Experience this year. The official reason, according to Sony Worldwide Studios Chairman Shawn Layden, is that there is a lack of new announcements.

"We wouldn't have enough to bring people all together in some location in North America to have that event," Layden said, adding that Sony did not want to disappoint PlayStation fans by creating an event that did not have enough meaningful news.

This is understandable, as this year's biggest releases for the PlayStation 4, God of War and Spider-Man, are already out. However, rumors are swirling that the real reason behind the cancellation of PlayStation Experience 2018 is the development of the PlayStation 5.

PlayStation 5 Announcement Coming Soon?

The theory is that there are no more exclusives to fuel PlayStation Experience 2018 because the games that are being developed already have the PlayStation 5 in mind. The lack of PlayStation 4 announcements is because Sony and game developers are already looking ahead to the next PlayStation console.

It is certainly plausible that the PlayStation 5 is coming soon, especially after comments made by Sony Interactive Entertainment President and CEO John Kodera earlier this year that the PlayStation 4 life cycle was entering the final phase. Is this also the reason why Sony finally allowed PlayStation 4 cross-play with Fortnite, because the console is already on its way to being replaced with the PlayStation 5?

Industry analyst Michael Pachter refuted the speculation, saying that the cancellation of PlayStation Experience 2018 was just a cost-saving move. Gamers looking forward to the PlayStation 5, however, will continue to hope for the best.

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