Video Game Prices Could Rise Again In 2023

Video games have always been an expensive hobby. Even if you’re a budget gamer who knows how to work in a good sale, the hardware will still be expensive if you want to keep up with some of the latest games. This is set to continue as several experts suggest that prices may rise again in 2023, although it is not definitive.

 

IGN put out a lengthy analysis using historical information and comments from some analysts and experts. The article itself is long and quite detailed, but it effectively boils down to several key points. Prices for AAA games increased throughout 2022 to a new $70 standard, and companies like Ubisoft, Take-Two, Xbox, and Sony all engaged in this price increase model. This is why the latest games, like Redfall, will release at a $70 standard. The blame for these price increases is often laid at the feet of the increased cost of producing games.

However, there are disagreements among these experts on whether or not hardware will necessarily increase in price. There is a possibility that it could be done, but consoles have often been sold at a loss to instead encourage game sales, so the major console manufacturers may maintain their lower prices while increasing game prices.

It’s also pointed out that games have actually cost more than $70 for a long time now. Special editions, collector’s editions, and special tiered editions with bronze, silver, and gold models have existed for years and they’re always more expensive than $70. This method is, of course, set to continue too. In addition, the report indicates that the major Japanese companies may aim at price increases in the West in the near future.

A saving grace appears to be a combination of subscription models and free-to-play games, which allow modern games to have lower barriers to entry, but the subscription model may also see price increases and free-to-play games simply use different ways to monetize through things like microtransactions and loot boxes.

The report does contain one interesting point though. While game prices have increased, they have technically decreased. When adjusting for inflation, games on the NES were actually more expensive than modern games. Sure, the price itself was lower, but that price was worth more back in the eighties. This is little consolation to modern gamers though as a price increase is still a price increase, and historical inflation doesn’t much factor into modern bank account balances.

All of this is to say that prices are likely to increase but in sporadic ways that do not affect the whole industry at once. There may be increases in hardware costs, like the PlayStation 5, as prices for it have increased in various places, and there may also be some software price increases too, but such increases are, sadly, generally inevitable.
 

Justin van Huyssteen (@LC_Lupus)
Senior Editor, NoobFeed