Sony will cut around 250 jobs from the recordable media business manufacturing hub and will gradually cease production of optical discs, including Blu-ray discs.
the whole point is to stop you from owning physical media so they can arbitrarily raise prices by creating artificial cause and demand through artificial scarcity.
Keep in mind that though this is a blow to the industry, it's not like optical media is just yet dead. Hell, there are still new releases to DVDs coming out today.
So that they can fully control the fate of digital media for "normal" people. Better not lapse on that subscription or fail to upgrade to the latest Sony TV... "Your" media library might not like that, be a shame if you lost access to those pretty titles you love..