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I was just reading this article at a site called KOTAKU, and this is a brief thing to what they said:
We tested six multiplatform games on both consoles and every time, the PS4 was under a minute while the Xbox One install was several minutes long and required downloading an update before beginning the installation. When you include downloading those updates for each Xbox One game that happen in the background on PS4, the install times can get as high as fifteen minutes before you can even launch the game.
For anyone that wants to watch the video of it and read it themselves, just go here:
How Long Until You Can First Play A Game On PS4 And Xbox OneP
[Since this has been asked in the comments a lot: We recorded these times with the consoles hooked up normally. Even though having the PS4 plugged into the Xbox shouldn't affect anything, we only did that for the video]P
Assassin's Creed IV: Xbox One (offline, no update): 5 minutes 50 seconds Xbox One (with update, fastest connection): 7 minutes 2 seconds Xbox One (with update, 10Mbps connection): 10 minutes 32 seconds PS4: 42 secondsP
The rest of these were tested on our office Wi-Fi which is around 9-11Mbps. It may have been faster on a wired connection, but you can compare your own connection speed here. These are our results:P
Need For Speed Rivals: XBO: 09:25 (including update) PS4: 00:32P
Just Dance 2014: XBO: 08:48 (including update) PS4: 00:45P
NBA Live 14: XBO: 16:26 (including update) PS4: 00:35P
FIFA 14: XBO: 16:06 (including update) PS4: 00:34P