It would give a huge platform to the news that PS5 fans are eager to hear, and could massively ignite interest in pre-orders.
In-the-know journalist Jeff Grubb has also said PS5 news could be dropping in August, with the VentureBeat reporter claiming price details could be revealed then.
The alternative, however, is the PS5 stream in early August may solely focus on games with price, release date and pre-orders coming later.
Microsoft are still yet to announce the price for the Xbox Series X, so Sony may hold fire until this news is revealed so they can undercut them again.
The Xbox team are also rumoured to be announcing their cheaper, next-gen Lockhart model in August which could be a popular next-gen entry point.
Sony might be waiting for that reveal so they can price the PS5 and PS5 Digital Edition accordingly.