Paid gaming subscriptions to hit record high
Modern gaming subscriptions, such as PlayStation Plus, Nintendo Online, and Xbox Game Pass, continue to rake in millions of dollars each year and are currently set to hit a record number of subscribers by the end of 2022.
According to the number crunchers over at DFC Intelligence, revenue from paid subscription services is set to grow in the second half of the year — with money earned from each service’s respective subscribers expected to offset what is predicted to be a weaker winter period for the industry. DFC predicts that roughly a third of the overall revenue for Nintendo, PlayStation, and Xbox will come from subscription fees, rather than straight game sales.
It’s difficult to argue against such predictions. The Xbox Game Pass service has all but reignited the Xbox brand in the aftermath of the somewhat submissive Xbox One years. Additionally, the recently revamped PlayStation Plus service is expected to see many users upgrade their standard subscription to the new “Extra” and “Premium” tiers, adding further free titles and access to a library of classic titles.
2022 — and the ninth generation in general — has been tentative for the industry, hindered by the COVID-19 pandemic and its major impact on the production and distribution of games, accessories, and hardware. Through subscription services, players have been able to receive instant access to a huge variety of new, recent, and old-school releases — for a relatively nominal fee. Much like Netflix and other paid streaming services changed the game for movies and television, gaming subscriptions are fast becoming a major component for our corner of the entertainment industry.