Satya Nadella, CEO of Microsoft, announced during the quarter’s financial results report that Xbox has seen record numbers of Xbox subscriptions, including 90 million active subscribers per month on Xbox Live over the previous quarter and more than 10 million subscriptions to Xbox Game Pass, its Xbox One and PC gaming service.
Nadella says millions of people have turned to video games as a means of connection during the social alienation of recent months – the coronavirus crisis – and the company will continue to “offer exclusive first and third party content to attract and retain gamers,” as well as gain nearly 90 million users on Xbox Live. “Xbox Game Pass has over 10 million subscribers and we have seen increased monetization of in-game content and services.
However, other revenues have declined, such as hardware revenue, which fell 20% due to price reductions, according to Microsoft. It should also be noted that the current generation is preparing to take over and Xbox Series X will be launched at the end of the year. Globally, gaming revenues are down 1% from last year while content and services are up 2%, again due to containment measures in many countries.