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The new standard prices for the next-gen games are now $70 but it’s being reported that Sony did consider trying to price PS5 titles even higher than standard.
A report by Bloomberg mentions that Sony considered charging a higher price than $70 for its next-gen games before deciding to settle on the new price.
A Sony representative, speaking to Bloomberg, explained the increase in price reflects the growing costs of development but also pointed towards other first-party titles that will be launching at $50, such as Spider-Man: Miles Morales.
Both Sony and Microsoft sell their consoles at a loss and depend on revenue from games to balance things out.
Multiple publishers have embraced the new $69.99 price, whereas others like EA, Ubisoft, and SEGA have kept their games at $59.99 while promising free next-gen upgrades.
Take-Two CEO Stauss Zelnick said about next-gen pricing:
“It’s been $59.99 since I started in this business, but the cost of games have gone up ten times. If you don’t have elasticity on the price-point, but you have huge volatility on the cost line, the model becomes more difficult. I think this generation is going to see those two imperatives collide.”
“There hasn’t been a price increase for frontline titles for a really long time, despite the fact that it costs a great deal more to make those titles.
“And we think with the value we offer consumers…and the kind of experience you can really only have on these next-generation consoles, that the price is justified. But it’s easy to say that when you’re delivering extraordinary quality, and that’s what our company prides itself on doing.”
“We’re definitely announcing pricing on a title by title basis. There hasn’t been a front line price increase for a very long time but costs have increased significantly. We believe we’re delivering the highest quality experiences in the business. It does rely on our continuing to deliver amazing experiences and that’s our strategy and our goal.”
The PlayStation 5 is set to release on November 12, with Spider-Man: Miles Morales, Demon’s Souls, Bugsnax, Astro’s Playroom, and Sackboy: A Big Adventure all launching on the same day.