2020 has been quite the year for the video game industry. We knew beforehand that this would be the year that both Microsoft and Sony would be bringing out their next-generation video game console platforms, however, it was also the year that we got news of next-generation video games being subjected to a price increase. There were rumors of new video game titles being pushed towards a $70 price mark and at this point the price hike is a reality.
Video games take a ton of time and effort to make. From small indie games to big AAA titles, there’s a ton of time and effort that goes into game development. However, for AAA video game titles, the time and effort are handled by a massive team of employees. Furthermore, with each and every new console hardware release, there is a new potential available for developers to craft up games. With the latest hardware offering more powerful components, the ability to make games even more detailed will allow players a more immersive experience.
Unfortunately, this comes at a cost for the development studios. With more power comes more resources, time, and technology that can be implemented into a game. This means that the studio is putting more money into a game project while maintaining the same price for each video game release. We haven’t seen a price increase for several years now, but the latest consoles are bringing in AAA video game titles at $70 and according to Sony Interactive Entertainment CEO Jim Ryan, the new $70 price is acceptable.
Jim Ryan was recently interviewed by The Telegraph where he was asked if $70 for a new video game title is a fair price and according to Jim it is. Jim made note of Demon’s Souls as a reference of how much entertainment players receive with the game and at $70 it seems like it’s a good fit for not only the value of entertainment but a means to keep studios afloat. However, Jim Ryan wouldn’t elaborate if this price would be featured for other studio video game releases under Sony’s umbrella.
This has been a hot topic for a little while now. There have been several statements thrown out in the public for ways to lower costs for not only the consumer but also studios. For instance, making smaller scoped games that don’t require as much time to complete will allow studios less time to spend on the video game project in studios and ultimately requiring less money to produce. For now, we’re just getting into the next-generation console cycle so only time will tell if consumers find with the $70 price hike or not.