In addition to a movie, Konami revealed Silent Hill: Ascension, which is described as an “interactive streaming experience.”
Silent Hill: Ascension is a joint project between Genvid, Bad Robot, Behaviour and DJ2. The project is described as “a new form of entertainment that blends community, live storytelling and interactivity” and is noted to have decision that are “canon” and there is “no reset button.” It will also feature new characters and creatures to the franchise.
Unfortunately, neither video explains what exactly these things mean or how far the story will go, but the YouTube video notes Silent Hill: Ascension will be “available 24×7 in 2023.” This suggests far bigger scale than something like Black Mirror: Bandersnatch, which was built on the pick your adventure concept, though time will tell what this ultimately ends up being.