Greatest Hits (budget range)

Greatest Hits are video games for the North American Sony PlayStation, PlayStation 2, PlayStation 3, and PlayStation Portable consoles that have been officially re-released at a lower price by Sony. While the term "Greatest Hits" only applies to selections in America, equivalent programs exist in PAL territories (as "Essentials"), Japan and Asia (as "The Best"), Korea (as "BigHit Series"), and in Brazil ("Favoritos"). The program parallels other budget range software by Sega ("Sega All Stars"), Nintendo ("Player's Choice" and "Nintendo Selects"), and Microsoft ("Platinum Hits" and "Xbox Classics") to promote best-selling games on their consoles as well. Typical for marketing labels like Greatest Hits and Xbox Classics.

Greatest Hits titles are colloquially referred to as "red label" (or "green label" for original PlayStation titles). This refers to the colored band that is added to the packaging to differentiate it from regular releases (which are similarly referred to as "black label"). A game can earn this distinction if it meets certain sales criteria within two years after its release. The original versions of the game (often referred to as "black label") are often sought after as collectables. There are also "White label" games, which are collector's editions. These mainly are "collections", having all the games in a series in one box.

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