Sony Entertainment Interactive CEO Jim Ryan recently confirmed one disappointing fact about the PS5. According to the executive, Sony's next-gen gaming console will not have backwards compatibility with classic PlayStation titles. Ryan's statement came out following the announcement of the price and release date of the PS5.

Jim Ryan confirmed to Famitsu that the PS5 will not be able to play classic PlayStation games. As translated by Siliconera, Ryan affirmed that Sony's upcoming console is only backwards compatible with PlayStation 4 titles. The report did not reveal many details on how the PS5's backward compatibility would work with PS4 games.

Interestingly, the company recently announced a new service called PlayStation Plus Collection. PS 5 owners who are also members of PS Plus would be able to download and play a curated list of PlayStation 4 titles that defined the generation. The new PlayStation Plus Collection is an extra benefit to the existing PS4 goodies PS Plus members get for just one subscription price.

For now Sony shared the list of PS4 games available on PS5 through the PlayStation Plus Collection. Some of these games are first-party classics like "The Last of Us: Remastered," "Bloodborne," "Uncharted 4: A Thief's End" and "God of War." Other major titles included in the curated PS4 library include Infamous Second Son," "Days Gone," "Final Fantasy XV," "Monster Hunter: World," "Battlefield 1," "The Last Guardian," and" Resident Evil 7," among others.

Sadly, Sony did not mention if the new service would be a limited offer. The Japanese gaming giant did not say if the curated library would be updated with a new list of PS4 games. Many fans believe that the PlayStation Plus Collection is Sony's answer to Xbox Game Pass.

While Sony has the PlayStation Now, the service is a standalone one that combines streaming and downloads. Also, the service has struggled to take off since it was launched in January 2015 successfully. Launching the PlayStation Plus Collection will allow PS5 owners to enjoy major PS4 titles is a great move from Sony.

Xbox Series X, PS5's rival in the current console war, claims that its backwards compatibility could cover even classic Xbox games. This is the first time that Sony has released something related to backwards compatibility. Fans are hopeful that the Japanese gaming giant would do more about this issue.

Meanwhile, Sony earlier announced the official price and release date of the PS5. The discless PS5 Digital Edition costs $399 while the PS5 with Blu-Ray disc drive retails at $499. Sony's next-gen gaming consoles arrive on November 19.