Tech

PlayStation Network Failure Could Could Cost Sony $24 Billion

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It will probably be another week or so before the PlayStation Network goes back online.

In the meantime, users are unable to connect to third-party services like Netflix, and there's still no guarantee credit card information is safe. No word on whether or not Sony will reimburse Netflix subscribers for the downtime.

A study by the Ponemon Institute estimates that security breaches like the one PSN is experiencing costs company's $318 per user. Multiply that by the network's 77 million users and you get a whopping $24 billion in losses.

[Forbes via SlashGear]

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Steve is a senior correspondent at Business Insider. Previously, he was a deputy editor at Tech Insider and senior editor for the tech section of Business Insider. He's appeared on CNN, CNBC, MSNBC, Sirius XM, and Marketplace.