Report shows new Xbox Game Pass subscriptions declined even before price increase

Some gamers believe Microsoft stopped updating Xbox Game Pass subscription data because of slowing growth. Those critics may feel justified by new Antenna statistics. Shared in an article by investment adviser SuperJoost, sign-ups in the U.S. have gradually fallen since August 2024. The one-year period does not reflect recent Xbox price increases for the service.

While the rate of new Game Pass subscriptions has declined, Microsoft has seen spikes in activity. As SuperJoost notes, Call of Duty: Black Ops 6 garnered the most interest in October 2024. Popular Xbox Game Pass games, like Oblivion Remastered and Clair Obscur: Expedition 33, also produced brief increases. Still, this performance may be well short of Microsoft’s lofty expectations.

Leaked documents from Microsoft’s FTC trial revealed that the company was targeting 100 million subscribers by 2030. The Antenna statistics don’t account for membership totals worldwide. Gamers also don’t know how many subscribers cancelled recurring payments in the past year. Xbox would need a strong retention rate of loyal customers to maintain a positive outlook.

That rention rate may have suffered, following changes announced in September. For U.S. gamers, Xbox Game Pass Ultimate now costs $29.99, which includes access to day-one titles. That prompted a flood of cancellations, causing Microsoft’s website to crash.

A former Microsoft employee told SuperJoost that the repeated Xbox price increases were “bad optics”. Nevertheless, the analyst maintains a more positive long-term outlook. He explains that the previous pricing structure wasn’t designed to reflect the contrasting habits of gamers.

Dedicated players happily paid $19.99 per month, but the costs to maintain the service exceeded that revenue. These power users are less likely to object to paying a higher rate. On the other hand, more casual audiences still have the option of lower-cost tiers. Dividing the benefits among different tiers could ultimately benefit the future of Game Pass.

Of course, many gamers now feel Game Pass no longer provides enough value. Without thriving first-party hardware, Microsoft also has to scramble to attract users on other devices.