Xbox 360 era), but development costs have only risen further since then.
As the price for new video games has stayed at $60, developers and publishers have tried to find other ways to generate revenue, such as Epic Games Store.
PlayStation CEO Jim Ryan recently spoke to GamesIndustry.biz about how the current pandemic has affected their plans for the PS5, including its expected release this holiday. During the interview, Ryan talked about the cost of creating games for the PS5, he stated:
“I think, to the extent that the technology enables the graphics side of it to become more interesting and life-like, [the games] will become slightly more human intensive and capital intensive to produce. So yes, we think there probably will be an increase in development budgets. We don't see it as being a massive increase, and that's why we want to do more faster than we have ever done before, to provide a fertile install base for people who make games to be able to monetise against. If we can keep pace with a likely increase in development costs, then the industry can continue to prosper.”
The PS5 is expected to be a significant advancement in console gaming technology that could possibly PS5 is 100 times faster than the PS4.
Raising the price of video games from the current standard price isn’t exactly new, as video games were notably cheaper during much older console generations. So it wouldn’t be all that surprising if next-generation games start being priced at around $70 for their respective standard editions. But with the proliferation of digital distribution and platforms such as the PS Store, Steam, and the Epic Games Store, games are now able to come out at different price points other than the supposed standard so we may still see games at the current $60 price point or even cheaper in spite being released for the PlayStation 5.
Source: GamesIndustry.biz
