THQ CEO Brian Farrell told private investors last night during a conference that the era of five year life cycles has ended and that longer lasting life cycles are taking its place in the form of Microsoft’s 360 and Sony’s PlayStation 3. This news shouldn’t shock anyone as most major developers and publishers have expressed interest in keeping this console generation running as long as possible.
“The video game industry for years was based on this five-year product lifecycle,” Farrell told the Goldman Sachs Communacopia Conference in New York.
“We think those days are over. We think the product lifecycle for both the Xbox 360 and PlayStation 3 will be an extended lifecycle. We do think the majority of sales for our industry will be from these existing platforms. for about the next three or four years.”
This news is great to hear on all fronts. Not only because it gives Sony a long enough time to create profit margins for the PlayStation 4, but it means gamers will be able to allow the economy to regain its legs in order to go out and purchase the next set of hardware. Are you guys wanting a generation to come out sooner or later?