While there haven’t been a lot of PlayStation 5 games to release at the $70 price point just yet, that will be the cost for the majority of the system’s software, moving forward. North America isn’t the only region that’s seeing a jump, as prices for next-gen games have increased globally; the U.K. is seeing prices as high as ยฃ70 (just over $90 U.S.). U.K. outlet The Telegraph interviewed PlayStation CEO Jim Ryan, who defended the price point stating “if you measure the hours of entertainment by a video game, such as Demon’s Souls compared to any other form of entertainment, I think that’s a very straightforward comparison to draw.”
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Price increases for next-gen software have been a hot topic of conversation over the last few months. Back in July, 2K Games was the first publisher to reveal a jump to the $70 price point for NBA 2K21, leading to heavy criticism. It has become clear in the months since, however, that this will be the price for most games on PS5 and Xbox Series X.
While fans cannot be blamed for not wanting to pay $70 for video games, the fact remains that development costs have continued to rise over the last two decades, while software prices have remained mostly stagnant. In fact, software prices have actually decreased over the last 25 years, and that’s before taking inflation into account! Prices of video games tend to drop off fairly quickly, usually within just a few months of release. As such, fans that don’t want to pay $70 can rest assured that a little bit of patience will pay off.
When the prices for next-gen software were first revealed, Xbox boss Phil Spencer played coy about the company’s own first-party titles, stating that the market will dictate prices, as fans decide what they are willing to pay. If games like Demon’s Souls sell well enough at $70, or ยฃ70, those prices will likely stick around. However, if fans vote with their wallets and wait for price decreases on new software, that could spur publishers to consider scaling prices back to the $60 price point.
What do you think about the $70 price point for next-gen games? Are you willing to pay that price? Let us know in the comments or share your thoughts directly on Twitter at @Marcdachamp to talk all things gaming!
