Consumer spending on subscriptions like PS Plus and Game Pass has stalled.

Devolver Digital Rejected PS Plus and Game Pass Deals for ‘Undervaluing’ Its Games

Indie publisher Devolver Digital has revealed that its revenue from subscription services like PS Plus and Xbox Game Pass is down because it has rejected multiple deals that “undervalued” its games. The company expects to turn down more deals in the future.

Indie publishers say PS Plus and Game Pass offers are no longer lucrative

Devolver disclosed this information in its financial results for the six-month period ended June 2023. “Devolver declined subscription deal proposals that undervalued the titles’ value and revenue opportunities in 2023 and 2024, resulting in lower subscription revenues,” the company wrote. “We expect to continue to turn down subscription deal proposals that undervalue the titles’ value and revenue opportunity in 2023 and 2024.”

This development follows a recent report from in which a number of indie publishers claimed that the checks from Sony and Microsoft have gotten smaller as PS Plus and Xbox Game Pass growth has become stagnant. U.S. market analysis firm Circana says that subscription service spending has stalled in the country.

Recently revealed court documents show that Sony doesn’t think Microsoft’s Game Pass strategy has been successful. PlayStation boss Jim Ryan told investors in private that SIE is happy with where PS Plus is at the moment, and doesn’t see a reason to follow Microsoft’s trajectory.