More game publishers are reportedly considering raising prices for Xbox Series X and PS5 games

Today, 2K Games revealed that the Xbox Series X and PlayStation 5 versions of NBA 2K21 will cost $70, which is $10 more than the average $60 release price for the current generation of console games. It's also increasingly unlikely that 2K Games will be the only publisher to raise prices as the next generation arrives.

Speaking with GamesIndustry.biz, games research firm IDG Consulting explained that the price of making games has only gone up, with development costs rising anywhere from 200% to 300%. Meanwhile, game prices have not risen since the release of the Xbox 360 and PS3 in 2005 and 2006 respectively, which saw new game releases go from an average of $50 to $60.

IDG explains its sources indicate many game publishers are considering this price hike and that while a $10 increase in pricing doesn't completely cover these increased game development costs, it does "...move it more in the proper direction." IDG also noted that while not every game warrants a price raise, "flagship AAAs" will be the most likely to see the new $70 baseline price.

With game costs rising, it'll be interesting to see how subscription services like Xbox Game Pass and PlayStation now are affected. The Xbox Series X and PS5 are both scheduled to release in Holiday 2020.

Related: With next-gen Xbox Series X and PS5 games at $70, Xbox Game Pass becomes even more valuable