Why Epic Games CEO doesn’t care about losing millions of dollars

Why Epic Games CEO doesn’t care about losing millions of dollars

In fact Epic doesn’t expect to turn a profit until at least 2027, according to court documents shared by PC Gamer, but that may be a small price to pay. Steam has survived for over 17 years, and it’s now so successful that it’s Valve’s main source of revenue over actual first-party games like Half-Life: Alyx. Epic is also securing its future for the day Fortnite slips out of favor, though the prevalence of the Unreal engine among third-party developers gives it yet another fallback. Unreal Engine 5 is slated to appear in third-party games as soon as 2021. For The Epic Games Store, Profit Is a Long Ways Off There does remain a risk that Sweeney’s confidence is misplaced. Valve could mount a successful defense, in which case there might only be so much market share to split between the two businesses. It could also force the Epic Games Store to up its spending, doing more than paying developers like Remedy for exclusives. In any event, Sweeney’s thinking is relatively standard in the corporate world, even if few people have as much money to spend on big bets as him.

Related: The Epic Games Store Is Actually A Really Good Deal (With Caveats) Continue scrolling to keep reading
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Sweeney claims on Twitter that the losses represent a “fantastic investment into growing the business,” having accumulated over $700 million in real-world spending that ignores promotions or Epic funding developers. About $265 million of that was spent on non-Epic titles. More crucially, perhaps, the company now has over 160 million customers – giving it a competitive footprint versus Steam, although there are likely few people who use the Epic Games Store exclusively. Most developers still target Steam first, since its larger base offers a better chance at a profit. Some publishers also run their own online storefronts. The Epic Games Store first launched in December 2018, flush with cash from the success of Fortnite. Though many gamers resented the notion that they might have to split their libraries, the storefront is now an established part of the PC space. It’s home not just to Fortnite but a variety of third-party exclusives and weekly free games that aren’t just bargain fodder or paid for with microtransactions. Checking for those freebies can become a recurring ritual.

Source
Average iPhone Owner Spent More Than $70 On Games In 2020

Sources: Tim Sweeney/Twitter, PC Gamer Next: Why Big Games Are Continuing to Skip Steam for Epic Games Store

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