Apple spending "Hundreds of Millions" on Apple Arcade Games

Apple spending

Sources speaking with the Financial Times revealed that numerous games are set to have budgets in the millions, but a keen-eyed industry insider might notice that budgets for larger triple-A titles can range as high as $200 million alone.

According to Financial Times, Apple could be spending more than $500 million in developing and building the game lineup of the Apple Arcade. "It also reflects the increasing competition in Silicon Valley for exclusive rights to the best content, as the iPhone maker bids against other new games platforms from Google and Tencent, as well as the console makers Nintendo, Sony and Microsoft", it said.

According to the Times report, some forecasters believe Apple's push into gaming will deliver more subscription revenue than its streaming service - and thus the big-budget strategy is an attempt to blast its way into a crowded game market. Apple is offering additional incentives for developers if their game remains exclusive to the service.

The service, which was announced together with streaming and news platforms, works like an Xbox Game Pass subscription, but for iOS devices.

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Sources familiar with the matter told the FT that many high-profile games selected by Apple have budgets in the "millions".

First launched last month, Arcade gives users access to 100 titles from developers like Cartoon Network, LEGO, Sega, Konami and Annapurna Interactive, among others. Their predictions are based off of 29 million users by 2024, paying a subscription price of $12.99 per month. An estimate by HSBC foresees Apple's gaming service becoming larger than the TV+ service by 2022, and becoming a $4.5 billion business by 2024.

For it be successful, the Apple Arcade needs to have a strong library of games.

Instead, users can play games with their existing laptops, desktops, TVs, tablets or phones and use their own keyboard or mouse. They can download and play as many as they want across multiple Apple devices, either online or offline.

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