Whether we are ready or not, Take-Two’s CEO says we are capable of $70 video games

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New games are worth a little extra money, obviously

There’s more chatter of the $60 age of video games coming to a close, with $70 expected to become a new norm. But don’t worry: Take-CEO Two’s says that we’re “ready” for the price hike.

Talking at the Morgan Stanley Technology, Media & Telecom Conference last week (transcribed by VGC), Strauss Zelnick, Chief of the Rockstar/2K parent Take-Two Interactive, was asked why NBA 2K21 was $10 more expensive than other new games. His reasoning, huh? It’s a nice game with plenty of replayability, and in 15 years, there hasn’t been a price jump.

“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 explained.

As noted by Eurogamer, it may be claimed that few titles come back with microtransactions, game passes, DLCs, expansions, and other ways to squeeze more revenue from customers.

Zelnick argued that not all future games would cost $70, insisting that costs would be set on a title-by-title basis. “But I think our perspective is [that we want] to still offer more benefit than what we spend, to make sure that the customer has the experience and […] the experience of paying for it, all of which are good experiences,” he said.

“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,” he added. “We’re an entertainment company, we’re here to captivate and engage consumers, and if we do that then monetization follows.”

In August, Take-Two said that charging $70 for NBA 2K21 was “justified” due to higher production costs and better user interface. The game was more controversial last year after unsurprising commercials appeared on the loading screens, but the company later said they were not intended to run as part of the pre-game release and would be deleted.

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