Game publisher Take-Two recently shared their explanation on the price increase of their games and how it will depend on the games.
A post-earnings call was recently held by Take-Two where they were asked about their decision to price upcoming video game NBA 2K21 $70 on PlayStation 5 and Xbox Series X. The publisher also announced their strong revenue from online games in this call.
CEO Strauss Zelnick believes that the price hike is already long overdue since costs have increased a lot. The company does not want to commit to $70 as the base price for all its games going forward. The prices will be set on a game-by-game basis.
But most importantly we believe we’re delivering the highest-quality titles in the business and consumers are staying more engaged than ever. Games have extraordinary playability and replayability and they offer many, many hours of entertainment. We think it’s a great value. It does rely on our continuing to deliver amazing experiences and that’s our strategy and our goal.
Zelnick clarified with Game Industry in an interview that this was not a planned thing with the other publishers. This was Take-Two’s idea only since it made sense for them.