A media for rich people?

During the latest GDC, Warren Spector, founder of the studio Junction Point, brought a problem to daylight concerning video games:

New video games are too expensive making them only accessible to a select few. he thinks that the industry should lower the cost to the lowest possible cost that still allows profit. giving the example of having 20$ allowed you to go to the movies but not buy a video game or 20$ allowed you to buy a music CD but not buy a video game and ill add to that 20$ lets you buy a movie but not buy a video game.

While putting all new games on sale for 20$ sounds unrealistic, significantly lowering the prices actually makes alot of sense. Why, well theres many single player games that only last between 7 and 10 hours. some of them offer a little bit of replayability value and others have a multiplayer mode that can extend the life of a game. It costs me 10$ to go to the movies and watch a good movie, but it cost me 60$ to play a 10 hour game with, generally, a simpler story. if we go strictly by time spent playing. 30 or 40$ for a game would already make more sense. except some games can last you hundreds of more hours like Call of duty 4 for example. but games with a good multiplayer mode AND that is played by many players is not found around every corner.
Like i said, theres too many games that only last less than 10 hours and after its done. To the consumer, it just doesnt make sense to spend 60$ on such titles.

Secondly, lowering the price of video games, would actually make many more copies of the game sell, and make the whole thing alot more accessible, more games, more consoles, more gaming pcs. simply because it would be easier to rentabilize the hardware as you would be able to buy many games for it. More people would get into gaming, more people would have fun, more people would understand what gaming is etc etc. Beside, if new titles were selling or 20$, paying another 10$ for extra content would be less ridiculous than what it can be currently. (No EA, im not gonna pay 10$ to have Arwen and 2 multiplayer maps in Lord of the Rings Conquest)

Lastly, One big issue thats plaguing the video game industry are the sales of pre-owned games. people who dont want to pay 60$ to play a game right away just wait to buy it used and pay less. While the industry makes money off of the initial game, the retailers make the rest of the profit on the used games. As a result, theres much less new copies of games that are being sold, and many people dont keep all their games, they will re-sell (particularly those 10 hour games). If the price of all games was 20$, people would actually be much less tempted to resell their games and might hold on onto them more. and more people would buy brand new games and not bother waiting to get a pre-owned copy for couple bucks cheaper.

It just makes so much sense for games to sell for significantly less money. one one hand for the consumers, on the other hand for the developpers and change the image of the industry away from "a media for rich people"