Video games are getting more expensive and you can join us – t3n – digital pioneers

Video games are expensive (Image: Shutterstock(/ CreativeAngela)

Strauss Zelnick, CEO of Take-Two, sees no significant resistance to 70-euro games from consumers. He shares the view for the entire video game industry.

With games like “GTA 5” or “NBA 2K22”, Take-Two is one of the most successful gaming publishers in the world – and “GTA 6” should be around the corner soon. The company has now increased the prices for the top new releases to 70 US dollars. This price development is controversial among consumers. Nevertheless, Strauss Zelnick, CEO of Take-Two stated, in an annual reportthat so far no noticeable resistance to the price increase has been noticed.

He shares this view not only for his company, but for the entire video game industry. In the past few months, several large publishers have raised the price for their titles to $70, which translates one-to-one to €70. According to Zelnick, the price increase goes hand in hand with the increasing complexity and the increased effort involved in developing games. In terms of graphics or sound design, more and more resources are needed to meet expectations.

The increase in video game prices was prompted by Take-Two itself, when it increased the price of “NBA 2K21” for the Xbox Series and Playstation 5 from $60 to $70. Since then, publishers like Sony, Ubisoft and EA have followed suit. Microsoft released its first $70 game this month, Redfall. Just a few days ago, Sega announced that it was considering a similar price increase for future releases.

According to Strauss Zelnick, this development has not resulted in a decline in sales figures, which is due to the fact that consumers are currently generally restricting their overall spending in the wake of inflation and are focusing on blockbuster titles or high-quality products. Some of these products could be offered, which is why Zelnick was also optimistic about the future of Take-Two.

When asked about the video game catalogue, Zelnick also predicted that “GTA 6” could be launched as early as next year. A specific release date has not yet been announced.