Hardware, subscription, and game prices are expected to further rise in 2023, according to Japan-based analyst Dr Serkan Toto of Kantan Games. GamesIndustry.biz has published its annual analyst predictions for the year, with Dr Toto noting that the ongoing rise in costs of development will continue to impact the industry.
Following Sony, Microsoft increased first-party game prices
Sony invoked backlash when it announced an increase in first-party game prices followed by an increase in the PS5’s price citing global economic conditions. Microsoft, which strongly resisted the urge to follow suit, caved recently when it started increasing the price of Xbox Series X/S in some regions. The company then indicated that it may need to revise hardware prices globally going forward, and in December, it officially announced that its first-party games will cost $70.
“Not all studios have hiked prices to keep up with the rise of production and other costs in game development so far, but gamers are likely to see prices go up across the board in 2023,” Dr Toto told GamesIndustry.biz. “I believe this trend will not only affect individual AAA titles but also subscriptions and hardware, especially from Microsoft.”
Dr Toto believes that Nintendo Switch prices will remain stable. However, Nintendo’s next console will likely come with a higher price tag.