GTA publisher thinks we're ready to pay $70 for games

Take-Two has once again clarified its stance on raising game prices.

Take-Two fired the first shot last year when it announced that NBA 2K21 would cost $70 on PS5 and Xbox Series X/S. The publisher has since backtracked slightly, saying that not every game it makes will cost $70.

Since then, a number of other publishers have either fully committed to the idea of $70 games on next-gen consoles, or strongly suggested they're considering it. Sony, for instance, confirmed that all of its first-party games on PS5 will sell for $70. Activision had a similar approach with Call of Duty: Black Ops Cold War, and presumably all of its future marquee games.

Take-Two CEO Strauss Zelnick was once again asked about his company's decision to raise prices to $70. Zelnick attended the Morgan Stanley Technology, Media & Telecom Conference, where he fielded a bevy of investor questions.

"Our view was that we're offering an extraordinary array of experiences and lots of replayability," Zelnick said (via Tweak Town).

"The last time there was a frontline price increase in the U.S. was in 2005-2006. So we think consumers were ready for it."

Zelnick also reiterated earlier comments that Take-Two hasn't committed to $70 across the board, adding that pricing decisions for every game are made on a case-by-case basis.

"Our view is to always deliver more value than what we charge, to make sure both the experience and paying for the experience are positive for the consumer," he explained.

"We all know anecdotally that even if you love a consumer experience, if you feel you were overcharged for it, it ruins the experience and you don't want to have it again. If you go to a nice restaurant and have a great experience and a great meal, but the check is double what you think it should be, you're never going back.

"We always want consumers to feel that we deliver much more than we ask in return. That's true for recurring consumer spending as well. We're here to activate and engage consumers, and if we do that, monetization follows."

At the same conference, Zelnick said that the upcoming GTA 5 remaster on PS5 and Xbox Series X/S won't be a simple remaster.