Ranayna: I am honestly afraid of what ever will replace Steam.
Yes, some day it will cease to exist. But what will replace it?
We will either have a massively fractured market, where each and everry major publisher has it's own launcher. That is already starting, but can get a lot worse as it is now.
Or we will go to subscription models like the XBox Gamepass where you will not be able to buy games anymore.
kai2: IMO consumers are primarily convenience-minded. If the market gets fractured into "a million" launchers, many consumers will just stop buying.
As for subscriptions...
... that's where the industry is headed. You subscribe to play but ultimately own nothing.
If consumers can subscribe to a convenient service that provides access to almost every release (ie Steam), they will give up what little ownership they already have (sadly).
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I agree the future is going to be a more fractured model although not as extreme as streaming because Japan isnt really into PC. I dont see Nintendo or Square making their own platforms (Nintendo wont release their games on PC and Square is still Japan focused and Japan doesnt play PC as much it seems. May be due to limited space to place a big desktop and PCs being quite expensive relative to consoles). I honestly thinknthe only other launchers could be from Sony and Microsoft (which makes sense. They already produce most of the AAA games and why lose out on 30% revenue to steam).
If the market does become fragmented enough, you may be right that companies will try to rope people in through subscriptions but I think in reality, few can. Xbox pass works because Microsoft makes bank through Office but I dont think other companies have that option. If they do go that option, there will be more exclusives by service and to make up the fact that they need to produce a similar number of quality games with less revenue per game (since you get access through subscription). Either they do something like pay an extra 20 to play this AAA hot release right now or wait a year or several until its free (like what Prime does with movies like Black Widow or Free Guy). Or, games make up that revenue through microtransactions, being even more justified since players are technically getting the game for free.
Movie ownership is basically dead now with streaming services (which is a bad thing since many good shows arnt accessible without owning them) and video games could go that way. Honestly would be terrible imo because although in the short term it may be cheaper, in the kong term you are going to be losing out on gems and maintaining old games with all their content since the games are owned by the company. Think GTA definitive edition and pulling down the originals. If you dont like the remaster, too bad.