Solution: Make sure your USB storage devices are in FAT and exFAT formats. When watching MP4 files stored on USB drive on PS4, you may come across the PS4 MP4 playback issues listed below. Do I need to set up my folder structure in a certain way? It seems to read the folders that are on my USB already, just not any of the individual files on them. By the way, the stick is formatted to ExFAT (tried it with FAT-32 earlier, same problem). However, despite the MP4 files are being in supported formats, the PS4 doesn't seem to see any of the files. I decided to try out the new media player, so I put some MP4 movies onto my USB stick to test it out. PS4 Media Player not reading MP4 files on USB