It won’t be cheap, but it’ll allegedly be worth it.

Despite its release growing closer, very little is currently known about the next generation of Sony’s game console, the PlayStation 5. The only piece of new hardware that we’ve actually seen is the new DualSense controller; the actual console is still limited to concept art and fan interpretations. This week, on June 4, Sony will be holding a livestreamed event to formally unveil the PS5, as well as some of its launch titles. Before then, though, there are some pressing tidbits of information that people would very much like to have, one of which is the price.

In an interview with Gameindustry.biz, Sony CEO Jim Ryan hinted that while he does expect the PS5 to sell perfectly well despite current economic hardships, it will definitely be more expensive than the PlayStation 4 was at launch.

“I think the best way that we can address this [economic challenges] is by providing the best possible value proposition that we can. I don’t necessarily mean [the] lowest price,” said Ryan. “Recent history has told us that gaming is one of the pastimes, and one of the businesses, that benefits in economically difficult times.”

Rumors have ballparked the PS5’s price somewhere between $450 and $500. This also feeds into speculation that Microsoft has purposely kept the cost of the upcoming Xbox Series X under wraps until Sony shows their hand, as rumors believe Microsoft intends to undercut the PS5 by $100.

According to Ryan, despite the relatively high cost of the PS5, its library of games will make it a worthwhile investment for players. “Value is a combination of many things. In our area it means games, it means number of games, depth of games, breadth of games, quality of games, price of games… all of these things and how they avail themselves of the feature set of the platform.”

Sony’s PlayStation 5 event will run on Thursday, June 4, at 4 PM ET.