Take Two CEO Said People Were ‘Ready’ for Next-Gen Game Price Increase

Strauss Zelnick, the CEO of Take-Two Interactive, suggested that consumers are “ready” for the next-gen game price to increase to $69.99, as NBA 2K21 will cost exactly that. This remark was made during the March 2021 Morgan Stanley Technology, Media & Telecom Conference after Zelnick was asked for his views on the public’s reaction to the game’s price increase. For context, the usual launch price for most 2K titles over the last two generations of consoles was $59.99. [Thanks, Video Game Chronicle!]

Here is Zelnick’s exact quote from the presentation, which VGC transcribed:

We announced a $70 price point for NBA 2K21, our view was that we’re offering an array of extraordinary experiences, lots of replayability, and the last time there was a frontline price increase in the US was 2005, 2006, so we think consumers were ready for it.

Take-Two Interactive owns the Rockstar Games and 2K publishing labels, but Zelnick didn’t explicitly state what consumers can expect in terms of game prices in the future. Instead, he said that announcements would be made on a “title-by-title basis.” He acknowledged that the feeling of being overcharged can ruin an experience.

When NBA 2K21’s next-gen price increase was first announced in August of 2020, Zelnick claimed that the price was justified due to the value Take-Two and next-generation consoles offer to consumers. NBA 2K21 is notable because it was the first next-generation title to have the $69.99 price point attached to it. The same game is also available for $59.99 on the Xbox One and PlayStation 4.

NBA 2K21 isn’t the only next-generation title selling at this price. A few PS5 games released at $69.99.

This $59.99 price point is the standard retail price in the United States for most video games released on the Xbox 360, PlayStation 3, Xbox One, PlayStation 4, and Switch. This price was also a $10 increase from the previous generation’s new game price point.