Publishers Considering Raising Game Prices for PS5 and Xbox Series X, According to IDG Consulting - NewsWilliam D'Angelo , posted on 02 July 2020 / 1,651 Views
Publisher 2K Games announced NBA 2K21 will be $59.99 for the Nintendo Switch, PlayStation 4, Xbox One, PC, and Google Stadia, but will be $10 more for the next generation consoles, the PlayStation 5 and Xbox Series X.
Video games research firm IDG Consulting President and CEO Yoshio Osaki in an interview with GamesIndustry says other game publishers are considering raising the price of their games for the PS5 and Xbox Series X.
Video game prices in the US have remained flat since 2005 and 2006 when they were raised from $49.99 to $59.99. He says game production costs for the next generation have increased 200 percent to 300 percent, depending on the IP, studio and genre, but prices have remained the same for around 15 years.
"The last time that next-gen launch software pricing went up was in 2005 and 2006, when it went from $49.99 to $59.99 at the start of the Xbox 360 and PS3 generation," Osaki said. "During that time, the costs and prices in other affiliated verticals have gone up.
"Even with the increase to $69.99 for next-gen, that price increase from 2005 to 2020 next-gen is only up 17%, far lower than the other comparisons.
"While the cost of development and publishing have gone up, and pricing in other entertainment verticals has also gone up substantially, next-gen software pricing has not reflected these increases. $59.99 to $69.99 does not even cover these other cost increases completely, but does move it more in the proper direction.
"IDG works with all major game publishers, and our channel checks indicate that other publishers are also exploring moving their next-gen pricing up on certain franchises, for the same reasons outlined above.
"Not every game should garner the $69.99 price point on next-gen, but flagship AAAs such as NBA 2K merit this pricing more than others."
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel dedicated to gaming Let's Plays and tutorials. You can contact the author at email@example.com or on Twitter @TrunksWD.