The next-generation consoles launched in November 2020, bringing the latest hardware which offers 4K gaming and ray tracing.
As the gaming generations roll on we have seen games get increasingly larger and looking better than ever.
Because of this, we are starting to see a shift in pricing after many years of $60 being the standard.
And GTA 6 could be the game that ushers in the new standard.
$70 Games
The next-generation has seen publishers begin to shift the standard $60 price tag to $70, and so far a few games have taken up this new pricing, but many still remain at $60 or under.
NBA 2K21 was one of the games that launched with a $69.99 price tag and Take-Two's CEO Strauss Zelnick recently said it was the right move to change the pricing to $70 because the public was ready for a price increase, we're not really sure why the public would be willing to pay more for a product, but ok we'll roll with it.
Speaking at the Morgan Stanley Technology, Media & Telecom Conference, Zelnick was asked about the pricing of NBA 2K21 and what it could mean for the future.
“We announced a $70 price point for NBA 2K21, our view was that we’re offering an array of extraordinary experiences, lots of replayability, and the last time there was a frontline price increase in the US was 2005, 2006, so we think consumers were ready for it,”
Zelnick then discussed future titles and suggested that companies need to focus on the quality of future games to help justify the price increase.
“We haven’t said anything about pricing other titles so far, and we tend to make announcements on a title-by-title basis, but I think our view is [that we want to] always deliver more value than what we charge, make sure the consumer has the experience and the experience of paying for it, both are positive experiences."
“We all know anecdotally that even if you love a consumer experience if you feel you were overcharged for it, it ruins the experience, you don’t want to have it again. [If you] go to a great restaurant, a really really fine restaurant, have a great meal and great service, then you get a check that’s double what you think it should be, you’re never going back.”
“So we always want to make sure that consumers feel like we deliver much more than we ask in return, and that’s true for our current consumer spending as well. We’re an entertainment company, we’re here to captivate and engage consumers, and if we do that then monetisation follows.”
GTA 6 Could Set The New Standard
As games increase in quality, it is understandable that the pricing could increase too, especially as games will take longer to develop and cost more.
GTA 6 has apparently been in development for a while now and looks to be a few more years before it is eventually released.
A game of that quality will without a doubt cost $70 and millions of players will happily pay for the game at that price point without question.
Right now, gamers are still unsure about the new price point and it shows as many publishers are hesitant about increasing their own prices.
But once tens of millions of players willingly pay $70 for a game such as GTA 6, this could definitely encourage other publishers to finally make the jump to the new pricing.