Thanks to the PS5 Showcase earlier today, we now know the price and release date of the PlayStation 5.

In an interview with The Washington Post, Sony Interactive Entertainment president and CEO Jim Ryan said that “thousands” of PS4 games have been tested, and that “99 percent” of them will work on the PS5.

Previously, Sony only confirmed that the PS5 will be able to run the “top 100” PS4 games, but later added that the PS5 will support an “overwhelming majority” of PS4 games.

Ryan also said that he expects the PS4’s life span to continue for another “three or four years,” and that the system will continue to be supported in that timeframe.

“Many will transition to PS5, we hope if we do our job well, but tens of millions will still be engaged with the PS4.”

That sounds true, especially now that we know certain PS5 games like the upcoming Marvel’s Spider-Man Miles Morales and Horizon Forbidden West will also be coming to the PS4.

During the PS5 Showcase, Sony also announced the PlayStation Plus Collection, which gives subscribers on PS5 access to several of the PS4’s best games, including Bloodborne, 2018’s God Of War, Uncharted 4, and more.

In case you missed it, check out ALL the games from the recent PS5 Showcase, or head on over here to find out the official price and release date for the PS5.