Well a future where they are bought is a future where they are gone and that is future we should all dread.
We will all lose out but I suspect it will happen. Content is king and I think there will definitely be more third party publishers bought up. Aside from Nintendo, we’re soon going to have 4 big players in the gaming space all vying for exclusive content for their platform. Sure they can build studios from the ground up but as we’re seeing from MS’s acquisitions, these take time to put together and build games. Add to that the fact that as much as people want new IP’s, it’s hard to get excited about a game you’ve never played unless it’s coming from a top tier dev studio such as CD Project with Cyberpunk and Bethesda with Starfield. That’s why I think MS, Sony, Google and Amazon will opt for buying established studio/publishers with established franchises.
Edit: for what it’s worth, if the buying up of studios does become a thing, I hope MS and Sony get in there first as gaming on two platforms is about as much as I can afford financially and time wise. I certainly don’t want to have to sub to Luna too because some of my favourite games are on there.
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