Nintendo’s highly anticipated sequel to Zelda will come with a heftier price tag compared to their other Switch games, paving the way for other game developers to follow suit. The Legend of Zelda: Tears of the Kingdom will retail at $69.99 (approximately Rs. 6,000) upon its release in the US on May 12, which is $10 (roughly Rs. 850) higher than the usual price for new Nintendo titles. This strategic move, aligning with the premium pricing strategies of console rivals Sony and Microsoft, could potentially lead to more widespread price increases as it normalizes the higher upfront cost.
Game studios worldwide, including those in Nintendo’s home market of Japan, have been eager to raise prices in response to the escalating expenses associated with meeting players’ growing expectations for quality and content. However, no company was willing to take the leap until now. Nintendo’s decision to raise the price of the new Zelda game is likely to be embraced by its peers, given the shared sentiment among industry insiders.
Kenjiro Asano, the Chief Financial Officer of Koei Tecmo, acknowledged the prevailing desire to increase software prices during a January 30 earnings briefing, particularly outside of Japan. However, he emphasized their reluctance to be the first to do so. Similar sentiments were expressed by Capcom CFO Kenkichi Nomura and Gree Senior Vice President Yuta Maeda when discussing their recent quarterly results. Both executives recognized the industry’s widespread inclination to raise prices in order to offset the rising costs associated with expanding teams and creating new content.
A Nintendo spokesperson confirmed that the new Zelda game will be the company’s most expensive first-party title, excluding deluxe editions bundled with additional extras. The spokesperson emphasized that Nintendo will continue to set prices that are appropriate for each game.
Serkan Toto, a Tokyo-based industry analyst, believes that this particular game presents an opportunity for Nintendo to test the waters. He suggests that the $10 price increase will not only help recoup any lost purchases from customers who opt out of buying the game but will also contribute to increased overall sales.
The previous installment in the Zelda franchise, Breath of the Wild, served as the flagship launch title for the Switch, playing a crucial role in its success. By the end of 2022, Nintendo had sold 29 million copies of the game and 123 million Switch consoles.
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