Jake Song is expressing his opinion.
Jake Song, the CEO of XL Games, remarked that there is no rosy future on console games market as it has an outdated business model at a public discussion ‘Get All the Game Maniacs Todgether!’ held by Games Education Center of SoGang University and Presidential Council for Future & Vision(PCFV) in Seoul on the 13th of March.
Song’s said comment was his opinion to a question that if he plans to go into the console games market which is very popular in the global market. Then he immediately replied “No.”
He explained that the console games have a business model that generates profit through selling third parties’ software after making a brand new, high-end console hardware every five or six years at a great cost but the hardware superannuates as time passes.
Moreover, Apple has recently been introducing new iOS products such as the new iPad annually and its software only costs US$20 at maximum while the quality of the iOS games is catching up what of the console games fast.
“[Korean gaming industry] was able to set up such wonderful environment for online games 15 years ago. So why should we go into the outdated market while so many overseas developers are suffering from learning our online games development experience,” said Song.