It's brought up every year, and each time the voice of reason shuts it down; no, Sony will not revive Crash Bandicoot, or at least not any time soon.
In response to a Twitter question from a PS4 gamer, Sony's Adam Boyes said the following:
Technically, Sony could still produce a Crash Bandicoot game, but first it would need to pay a huge sum of money to acquire permission from Activision to use the IP. This is unlikely to happen given the wading popularity of platformers. In addition, Naughty Dog seems content with creating a new IP each generation, and then moving on after a few years. It certainly hasn't shown an attraction for living in the past.
This has been a tough reality for many classic PlayStation gamers to bear, especially by those who have seen the Crash Bandicoot easter egg(s) in Uncharted 4: A Thief's End.
Ultimately, Sony is most interested in funding new IPs, as the strategy is part of the reason it has been able to retain its position as an overwhelming market leader.
