Rockstar have confirmed to GR that GTA Online will be free for PS5 owners for the first three months, we have updated the story below to reflect this.
The announcement was made at the PS5 Future of Gaming event, just after the opening sequence showed off GTA Online footage with the promise that the game will be "expanded and enhanced" for the next-gen console.
From now until the expanded and enhance version of GTA Online drops on PS5, all PS4 players who own GTA 5 will get $1 million in GTA cash every month to be used in GTA Online. We don't know exactly when the new version of GTA Online will drop on the PS5, but that's at least six month's worth of free payouts.
"What better way to bridge our past and our future than with a game that's graced every PlayStation console - Grand Theft Auto," president and CEO Jim Ryan said shortly after the announcement. "It's been a privilege partnering with Rockstar Games for many years now. We're thrilled to open today with the news that that partnership will continue with Playstation 5."
It's important to note that you must be a PlayStation Plus member to get the enhanced and expanded version of GTA Online for free on PS5.
If you're looking for a great deal, we've got the cheapest PlayStation Plus membership prices right here.