Why it’s not a good time for video games overall
????️ The highs of the pandemic video games boom are not being matched
???? A strong dollar has made companies like FIFA-developer Electronic Arts cut forecasts
???? Video game prices have been going up. In a September interview with Axios, Ubisoft said it would increase its major titles’ price tags to $70 from the typical $40-60. Back in 2020, Sony CEO Jim Ryan had said the $70 price point is fair if you consider the “hours of entertainment” provided by video games versus any other form of entertainment.
✋ There are no new, exciting, big holiday releases planned by video games majors like EA, Take-Two Interactive, Ubisoft Entertainment SA and Microsoft. “This holiday season is set up to be a natural let-down just from a quantity perspective,” Jefferies analyst Andrew Uerkwitz told Yahoo Finance. “If you look at the number of games last year to this year, it’s actually down. There’s been over 100 games delayed over the last 24 months. And that’s publicly announced delays.”
???? Gaming isn’t immune to macroeconomic pressures like rising inflation and cost-of-living
