Microsoft Corporation (MSFT) is about to embark on a major milestone with its Xbox Cloud Gaming streaming service when its consoles support it later this year. The company announced this during its gamescom 2021 online event on Tuesday, announcing new games that would also be available in its subscription service.
Shares of MSFT, which have risen 36% since the beginning of the year, ended Wednesday with a slight decline of -0.20%.
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Microsoft Corporation (MSFT) initially launched Xbox Cloud Gaming for PCs, smartphones, and tablets, and its console launch is expanding its paid subscriber audience. MSFT offers an Xbox Game Pass Ultimate trial for $1, followed by monthly subscriptions starting at $15.
Microsoft Corporation (MSFT) offers over 100 high-quality cloud games, and the company regularly adds new and exclusive titles, as does its main competitor, the Japanese company Sony. The company acquired Bethesda for $7.5 billion last year, the company behind video games such as The Elder Scrolls and Fallout.
Microsoft Corporation (MSFT) announced earlier this year that Xbox Game Pass subscribers have increased 3 million since September 2020 to 18 million.
The next milestone in this Microsoft Corporation (MSFT) business is to release dedicated hardware that allows games to be streamed to smart TVs. The company announced in June that it was in talks with smart TV makers to enable users to play Xbox games without a console.
The company reported the success of Microsoft Flight Simulator for Xbox Series X | S and Psychonauts 2 in its update and upgrade report on Xbox Game Pass on Tuesday. Games like Age of Empires IV, Forza Horizon 5, and Halo Infinite have been announced.