Gaming and Inflation: Is Gaming Getting More Expensive? - GoGCast 374

Is gaming getting more expensive? We ask this age old question as we enter yet another recession. As the cost of life keeps skyrocketing and the chip shortage persists, our favorite hobby is becoming even more of a luxury. PlayStation already announced it was raising the prices of consoles in certain markets, citing inflation rates as the cause. Xbox says it’s keeping the price of their consoles as-is for now but a hike might happen after the Holidays. Plus, accessories are also coming with a steep price tag, the PSVR2 being one of them.

What is Everyone Playing? (00:14:15)

This Week’s Topic: Is Gaming Getting More Expensive? (00:31:03)

Articles mentioned:

• Playstation Raising Prices: https://blog.playstation.com/2022/08/25/ps5-price-to-increase-in-select-markets-due-to-global-economic-environment-including-high-inflation-rates/
• The PSVR2 release date and pricing came out… woof that is $$$ for Canadians: https://twitter.com/SVegvari/status/1587810998546751488 
• Is Microsoft going to raise the price of the Xbox Series? No: https://www.gamespot.com/articles/phil-spencer-explains-why-microsoft-wont-raise-the-price-of-a-new-xbox/1100-6507587/ 
• Wait no, yes. Maybe: https://www.forbes.com/sites/paultassi/2022/10/29/xbox-now-says-it-will-have-to-increase-prices-but-to-what/?sh=5bb4febc3bdd 
• PlayStation Plus loses 1.9 million subs since June Relaunch: https://www.pcmag.com/news/playstation-plus-loses-19m-subscribers-since-june-relaunch
• Xbox Game Pass revenue: https://www.gamespot.com/articles/xbox-game-pass-console-revenue-revealed-in-microsoft-activision-blizzard-legal-documents/1100-6508137/ 
• Gaming and recessions:
  • Recession a boon for gaming: https://www.theglobeandmail.com/investing/globe-advisor/advisor-etfs/article-looming-recession-a-tailwind-for-gaming-as-consumers-look-for-cheap/
  • Gaming is resilient to recession: https://www.cnbc.com/2022/10/26/microsofts-phil-spencer-gaming-somewhat-resilient-to-weak-economy.html
  • Console shortages: https://www.theglobeandmail.com/life/article-out-of-controllers-the-most-popular-game-consoles-will-be-in-short/
  • Global chip shortage: https://www.agweb.com/news/business/technology/john-phipps-chip-shortage-far-over-why-global-frenzy-underway

Outro and Wrap-up (01:11:52)

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