In a recent interview, CEO of the Sony Jim Ryan stated that during the development phase of the PS5, "thousands" of PS4 games were tested and almost all of them worked. It means that 99% of the games of the previous model can be played on the PS5 platform.
Previously it was known that only the most popular PS5 games could run on PS5, but now it is obvious that it will be almost all PS4 games. Unfortunately, games from older console versions will not be supported - only games with PS4 port. However, Sony is counting on PS4 support for at least a few years more.
Interestingly, that XBox by Microsoft will support any games from earlier versions of the console.
Jim Ryan also expressed the hope that the PS4 will remain relevant for "at least three to four years" - which means that PS4 will be supported by Sony. Ryan said Sony expects that many players to continue using PS4, however, if all goes well, some will go to PS5.
Recall that the presentation of the PlayStation 5 took place on September 17th. It was announced that the new generation console will be released on November 12th and will cost 500$. On the European market, the new PlayStation will appear on November 19 and the price will be around 600$.