In a recent Future of Video Games survey, it was found that US video game consumers have reduced the rate at which they buy video games. There are several reasons why consumers have reduced the rate of purchasing video games, and it is certainly not because of a lack of new products.
According to the Future of Video Games survey, only 14% of consumers will purchase one or more video games per month. Meanwhile, over 60% of consumers buy two or fewer video games per year. For those invested in the video games market, the main reason for this is well known.
Over the past few years, the rise of “forever” games has reduced the need for consumers to continue purchasing new games. Instead, they can purchase one game and receive consistent updates to the game. Over time, the game they purchased will gain more content than what they would have received from buying another game for free or as DLC.
In addition to these “forever” games, micro-transactions have become the new main source of revenue for video game companies. Often, when a developer includes micro-transactions in their video games, players will spend more money on those services than they would to purchase the game.
This had led to video games being released for free and then making millions from micro-transactions alone. Live service games have become the industry standard, with Sony reporting that the company makes more money from in-game purchases than it does from consumers purchasing their games.
When most modern games are designed to be a never-ending live service that requires constant investment to keep enjoying, it is no wonder that consumers don’t feel the need to purchase new products.
