Take-Two Interactive Reiterates On Support For Jump To $70 Pricing For Video Games

Posted on March 8, 2021 by Nick Moreno

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While consoles and the capabilities they produce are a topic many argue to being deemed a large talking point, another conversation sporting its longevity is the discussion for a price bump on video games. Given the increase in production, cost, and the ability to carry said experience to multiple platforms spanning across generations of systems, the act to increase the pricing of the game remained the same for over a decade.

In the past year with the transition of the latest console generation, Take-Two Interactive took the lead for this new ambition with its pricing of NBA 2K21 on PlayStation 5 & Xbox Series X|S being $70. The parent company later defended the increase by explaining that the number of content in its titles is appropriate to a higher price tag on the box, CEO Strauss Zelnick elaborates.

Again, Zelnick further reiterates on the topic during the recent Morgan Stanley conference where he solidifies his previous statement on video games costing more off the shelf. Thank you to TweakTown for transcribing his statement from the recent event.

In terms of pricing, we announced a $70 price point for NBA 2K21. Our view was that we’re offering an extraordinary array of experiences and lots of replayability. The last time there was a frontline price increase in the U.S. was in 2005-2006. So we think consumers were ready for it.

We haven’t said anything about pricing other titles so far. We tend to make announcements on a title-by-title basis. Our view is to always deliver more value than what we charge, to make sure both the experience and paying for the experience are positive for the consumer.

So while not all games are deemed to receive a price bump, as interpreted by Zelnick’s statement, he does issue that games will be reviewed if qualified for a $70 price tag upon its release. He continues, “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.”

On the discussion of agreeing for a larger price of video games, Sony Interactive Entertainment President & CEO Jim Ryan also entertains the matter. Already, we witness this with the release of Demon’s Souls on PlayStation 5 and Ryan aims for more games to follow this pattern for pricing. You can read the full report by heading here.

Do you agree with more games to cost $70?

Source: TweakTown

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