In an interview with British broadsheet newspaper, The Daily Telegraph, PlayStation Boss Jim Ryan shared his thoughts on the new £70 price point that the company is targeting. When asked about whether the £70 price seemed valid on new PS5 games, Ryan said “yes,” continuing that it’s worth it for the entertainment the game provides. Here is the exact question by the interviewer and Ryan’s answer to it.
Demon’s Souls has an RRP of £70 on PS5 – significantly more than gamers had been accustomed to paying for PS4 games. Do you consider that a fair price for a video game?
“Yes, yes, I do. If you measure the hours of entertainment provided by a video game, such as Demon’s Souls, compared to any other form of entertainment. In that case, I think that’s a very straightforward comparison to draw.”
The interviewer further asked him about the week earlier Bloomberg report, which suggested Sony was considering to increase game prices above £70. Jim Ryan replied to the question saying it was false, “I can say that that report that we were considering higher prices for first-party games is categorically false.”
The $70/£70 price hike in the gaming industry mainly started when Take-Two announced that NBA 2k21 would cost $70 on next-gen consoles. Afterward, Activision and Sony took similar decisions and increased prices. Recently, Take-Two CEO Strauss Zelnick was asked about the price hike, to which he argued that game development prices have skyrocketed while retail prices haven’t changed.
“We deliver a much, much bigger game for $60 or $70 than we delivered for $60 10 years ago. The opportunity to spend money online is completely optional, and it’s not a free-to-play title. It’s a complete, incredibly robust experience even if you never spend another penny after your initial purchase.“