(Bloomberg) -- Microsoft Corp. is raising the price of new Xbox games to $70 from $60 starting in 2023, following other big gaming rivals from Ubisoft Entertainment SA to Sony Group Corp. and Take-Two Interactive Software Inc.
The $10 bump, which was earlier reported by IGN, will affect next-generation games including Starfield, Redfall and Forza Motorsport, the company said in a statement. “This price reflects the content, scale, and technical complexity of these titles,” a spokesperson said. The games will be available as part of Microsoft’s subscription service, Game Pass, for $9.99 a month on Windows and Xbox consoles.
Many top games remained at a $60 price point for nearly two decades. In 2020, when Sony and Microsoft released their latest consoles, executives debated increasing the price in line with factors including the ballooning cost to develop games and inflation.
Microsoft said the company was holding off on the increase until after the holidays, “so families can enjoy the gift of gaming.”
©2022 Bloomberg L.P.