Epic Games’ store made $680 million in first year16th January 2020
The Epic Games store has earned an astonishing $680 million in its first year of launch, further cementing the company as a global powerhouse in the industry.
Its move to open a platform for purchasing games was met with some initial resistance, largely because people objected to being forced into different places to buy their favourite titles where Steam has reigned king for so long.
The digital distribution platform, which launched back in 2003, has effectively held a monopoly since then because the majority of titles were available on it.
In today’s climate, the big developers and publishers have begun creating their own platforms – much in the same way many companies are attempting to mimic Netflix’s model for live video streaming, such as Disney+.
Two notable examples include Electronic Arts (EA) with its ‘Origin’ and the Epic Games store.
The latter’s revenue has made it abundantly clear that in spite of people’s supposed boycotting, it has still been fruitful for the company.
Chief executive officer Tim Sweeney recently revealed during an interview that there were 108 million accounts which have specifically obtained the PC version of at least one product – either free or paid – from its store.
“This is out of 300M total Epic accounts across all platforms including console and mobile,” he said.
“Epic Games Store third-party game revenue in 2019 is roughly 60% higher than our initial forecast at launch, and the pace of free game installs is several times higher than we originally expected.
“We are very happy with the outcome and grateful to our partners and customers.”
The store doesn’t just offers its own products, it also signs agreements with other developers to offer their products.
While they may lose some revenue for a brief period, it attempts to remedy this by compensating them.
Smaller developers also benefit by having their titles featured as the free game of the week, which in turns helps bring them exposure.
At the end of the interview, Sweeney teased there will be “tonnes” of exclusives arriving on the Epic Games store this year.
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