Take-Two counts itself among the numerous gaming publishers who are now charging $70 for some of their top new releases. The company’s CEO, Strauss Zelnick, has said the company has not seen a “pushback” to increased prices.
“We’re not seeing a pushback on frontline price,” Zelnick said during Take-Two’s latest earnings event (via VGC). “What we’re seeing is consumers are seeking to limit their spending by going either to the stuff they really, really care about–blockbusters–or value. And sometimes it could be both.”
Zelnick went on to say that the video game business is a “growth business,” and even if comparisons to the pandemic–when revenue surged due to stay-at-home policies–are not as favorable, growth will come back, he predicted. Zelnick also said he believes there is a general economic recession happening now which could be impacting spending behavior in the short term.