It seems likely to be a combination of PlayStation Plus and Now.
Photo by Vjeran Pavic / The Verge

The answer to the Xbox Game Pass will be announced by Sony as early as next week, according to the report. Sony's two current subscription services, PS Plus and PS Now, could be combined to create Spartacus. The service may not include God of War: Ragnarok, but it will feature popular games, according to the report.

The service will offer different games at different price points. One tier is expected to be similar to the current PS Plus subscription, while subsequent tiers would add PS4 and PS5 games, as well as access. The highest tier could include a library of classic games from systems like the PS2 and the PSP, according to previous reports.

Sony seems like it’ll lean more on its back catalogue for Spartacus, rather than offer today’s new hits

There are two subscription services that Sony has, one of which gives access to online gaming, some discounts, and a few free games a month, and the other which gives access to a back catalog of PS4 and PS3 games. I don't think these services hold a candle to the Game Pass that allows you to play major games on the day they launch.

Sony seems to be looking to give a service they can really be excited about, though reports do make it seem like it will lean more on the massive PlayStation back catalog, rather than today's new hits.

It isn't clear how much it will cost. You can buy an annual subscription for $60 a year for PS3 Now and PS3 Plus. That is the same price as the standard Game Pass subscription, and a bit less than Game Pass Ultimate, so Sony has some wiggle room when it comes to pricing.

You can buy multiple months, or even years of a PS Plus subscription. How will Sony deal with users who aren't doing a month-to-month subscription if the service is being replaced? It sounds like Spartacus will have an equivalent tier, but there could be changes in price that have to be factored in.

We might not have to wait long to find out the answers to our questions about Sony's new service.

There are potential questions about the PlayStation Plus migration.