Epic Games Set to Lose $330 Million in Bid to Compete with Steam

The competition between Epic Games Store and its competitor, Steam, is now heating up. Both of them are competing to dominate the market share of gamers in this global world. One of the strategies the Epic Games Store uses to reach out to gamers is to provide exclusive offers that are very tantalizing. This approach has actually been seen since 2018. Since that year, the Epic Games Store has indeed often provided big discounts, and even often given free games to account owners.

Rumor has it that in order to carry out the above marketing strategy, Epic Games Store collaborates with Apple. Unexpectedly, this collaboration did not go well until a dispute arose between the Epic Games Store and Apple. Even the dispute has to be resolved through the Court. The legal battle between the two began in August last year when Apple withdrew Fortnite from the App Store after Epic implemented a new system that allows iOS users to make in-game purchases using direct payments without going through Apple’s App Store system.

Since the case between Apple and the Epic Games Store rolled in court, some information regarding the Epic Games Store’s finances has begun to be revealed. Investigating, the game portal platform, which has more than 160 million registered accounts and more than 56 million monthly active users, is not running as well as many people think.

Over the past few years, the Epic Games Store has indeed generated nearly 1 billion US Dollars in revenue. But ironically, in fact, Epic Games Store’s revenue is not effective enough to balance its sheet.

Since its launch in December 2018, it has been reported that the Epic Games Store has lost more than US $450 million. In fact, this figure is predicted to continue to soar and increase to more than half a billion United States Dollars by the end of 2021. The losses suffered by Epic Games Store reached USD 181 million in 2019 and increased to USD 273 million in 2020.

It cannot be denied that the losses that have been suffered are basically the impact of the company’s strategy which is burdened with the implementation of exclusive programs that provide huge discounts and even free games.

So how it goes? Epic Games Store itself maintains that they will protect and guarantee the rights of the parties who have made an agreement with the Epic Games Store itself. Epic Games Store has predicted that it will reap sufficient profits in 2023 so that its finances will return to stability.

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