EPIC GAMES STORE LOST $450 MILLION DURING 2019 AND 2020
-Epic Games’ online storefront reportedly lost a combined $450 million during 2019 & 2020.
-The company hopes to start making an actual profit by 2023.
Things aren’t looking ‘rosy’ for the Epic Games Store.
Though the onset of the COVID-19 pandemic brought about the instantaneous rise of many online gaming storefronts, as due to the general “homebound” situation enforced throughout the world by health authorities, Epic Games’ own online store saw only losses throughout its first two years of its operation.
According to legal documentation made public in recent days, in regards to the ongoing battle between Apple and Epic Games that sprung after the latter attempted to bypass sharing purchase revenues for Epic Games’ titles with the former, the popular developer of fan favorites like ‘Unreal Tournament’ and battle-royale ‘Fortnite’ experienced severe losses throughout the previous two years, totalling to a whooping US$450 million.
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Epic Game Store losses $450 million throughout 2019 and 2020
So, our scoop originally stems from some online reports that exposed data presented in legal documentation regarding the Apple vs Epic Games ongoing courts battle.
Fortnite’s creators allege severe losses held during the first two years of regular operation of its online storefront, namely, the Epic Games Store.
Having launched only by December of 2018, the online gaming retailer suffered net losses estimated in $181 million in 2019 (its first full year) and $273 million throughout the 12-month period that just ended; early estimations for the ongoing year see other additional losses mounting up to another $273 million.
Also, in the documentation, Epic Games alleges that they expect actual profits, but only by 2023.
-We hope they’re right, for their own sake!
What’s causing the severe losses?
Supposedly, the humongous deficit is rooted in large investments made to Epic’s online storefront, issued in the hopes of making the platform sufficiently competitive against more well-established/similar retailers, such as Valve’s super-popular Steam online shop.
Currently, the Epic Games store counts with over 160 million registered users, of whom a little less than 60 million are regularly active.
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