By the end of 2020, the video-game industry will generate $159.3 billion from 2.7 billion gamers, and by 2023, the market will cross staggering $300 billion in revenues.
As the popularity of video games continues to grow, the persistent question is about the future of gaming. Many people think that subscription-based gaming would overtake console games in a few years.
Let’s keep this question aside for a while and put some light on subscription-based businesses model.
Looking at Netflix, a pretty promising impression comes into mind regarding subscription-based services. The company added 8.8 million new subscribers in 2019 alone and remains a streaming service with the highest number of subscribers in 2020.
But how does the story look like beyond Netflix?
Gartner, one of the world’s leading advisory and research company, predicts that by 2023, 75 percent of the organization will start offering subscription services.
Based on the numbers, we can agree that subscription models hold a bright future. Now, let’s converge and talk from the viewpoint of video-gaming.
Subscription-based games: What sets them apart?
Subscription-based gaming services provide the player with an enormous collection of good-quality games at a minimal fee. You could make the most of a game and switch it any time with some other exciting one when you get bored of it.
Some other distinct aspects of subscription-based gaming are discussed below. Let’s see the bright side of gaming subscription up close and talk about the motivators.
Low Risk; High Reward
Good subscription models have basic packages that are lighter on your pockets. So, if you can’t afford to buy an expensive game or manage hefty subscription charges, this is your best deal.
When a new game is released, and there are not ample reviews available, a question could pop in your mind: why take the risk of spending $50 on an entirely new game?
The disappointment hits you like a bullet train if you buy an expensive game, and it turns out to be absolute garbage.
On the other hand, if you opt for subscription-based gaming, the dent is not that deep since you could discontinue your service at any time.
All in all, if you want to try out new games with carrying the fear of ending up with a bad investment, you could count on gaming subscriptions quite convincingly.
According to survey reports, 90 percent of business professionals believe that analytics is the most effective tool for organizations’ transformation initiatives.
Here’s the downside of buying an offline game: you don’t stay connected to the developers.
When you play an offline game, the developers don’t know anything about your experience and in-game habits.
Gaming subscription, on the other hand, goes hand-in-hand with content analytics. The developers track the in-game activity of the consumers and take it into account before releasing the updates in the games.
So, if there are some features in the game that you ignore persistently, the technical team would devise ways to make them more prominent to your sight.
Likewise, if it is identified that a particular stage in the game is unnecessarily hard and that a majority of players struggle to make it through, the difficulty level could be adjusted to make progress easier.
These insights and data would help to improve the overall gaming experience, making them more appealing for the players.
Much Safer Experience
Since the outbreak of coronavirus, the number of people turning to video games to cut the boredom has surged.
Cybercriminals took advantage of the situation and stepped in. They lured people into online gaming portals that were cheap and accessible.
Kaspersky, a multinational cybersecurity solution, noticed the increase in the gaming activities and looked into it. Upon investigation, it was revealed that, in April alone, there was a 54 percent increase in the attempt to redirect users to malicious websites through gaming services.
Even though no service can ensure a secure gaming experience, in the case of subscription-based gaming, the chances of cyberattacks will reduce significantly.
When a price-tag is set on a gaming service, safety and security constitute a critical factor for a quality in-game experience.
The growing number of subscription-based gaming services
Over the past few years, the number of platforms offering subscription-based models has increased. EA Sports, one of the most renowned game developer, surprised many when they offered ‘EA Access,’ which is a paid membership service to play the best EA games on Xbox One.
Since then, Microsoft, Sony, and Google have also come up with subscription services for video games. The growing number of subscription-based gaming platforms is a testament to their increasing acceptability among the people.
Subscription-based games have also been a catalyst for change in the field of education. They have made educational games more accessible for kids. Various subscription-based gaming platforms like Unlimited Gamez Mo offer a huge variety of games in the education genre.
Parents can pay a nominal fee to buy a subscription to these platforms and let their kids learn in a fun way by playing these games. Researchers have found that these games are instrumental in teaching new concepts to kids by engaging them in gameplay.
What about the downsides?
Despite all the benefits of subscription-based gaming models, there is no denying the fact that this model is far from perfect. So, putting things in the context of gaming subscriptions, let’s have a look at the negative facet.
The Price Factor
Well, it’s problematic if a person is not an avid gamer and barely manage time for games due to busy schedules. In such scenarios, people would be enticed more by making a one-time investment.
Of course, buying a couple of games for occasional gaming sessions makes more sense than spending money every month to renew the subscription of a gaming platform even if you haven’t played a game in the whole month.
Moreover, experts believe that a Netflix-like subscription model would become too costly for online gaming. Netflix offers premium content to its users. Similarly, gaming platforms would also have to develop exclusive games to entice gamers.
According to Variety, developing a triple-A game can cost anywhere between $50 million to more than $100 million. It doesn’t include the marketing costs, which can easily double the cost.
Thus, gaming platforms would need to come up with a viable plan to keep the subscription costs low and compete in the market against console-based games.
The inside-out analysis of gaming subscription is laid; now, we leave the ball in your court. Take another look at the insight, and we’re sure that you’ll reach an opinion regarding the prospects of subscription-based gaming.
Join the conversion by sharing your thoughts with us; so, don’t forget to leave a comment.