Game publisher Take-Two has recently reaffirmed their stance in regards to the increase of prices for new video games.
Take-Two CEO Strauss Zelnick was again asked about their decision to increase the price for their games to $70. This happened during the Morgan Stanley Conference where he faced several investors curious of his answer.
Zelnick states that they are offering a wide variety of experiences and lots of replayability for their games. He pointed out that there was a price increase last 2005-2006 and believes the consumers are ready for another one this time around.
The CEO did note and repeated their previous statement that not all of their games will have a $70 price. The increase for every game will be made on a case-by-case basis.
We all know anecdotally that even if you love a consumer experience, if you feel you were overcharged for it, it ruins the experience and you don’t want to have it again. If you go to a nice restaurant and have a great experience and a great meal, but the check is double what you think it should be, you’re never going back.
We always want consumers to feel that we deliver much more than we ask in return. That’s true for recurring consumer spending as well. We’re here to activate and engage consumers, and if we do that, monetization follows.
The price increase will be a thing now and probably more publishers will follow suit later on. Sony Interactive Entertainment is a fine example that has increased its prices for some PS5 titles.