Xbox Takes Cautious Steps into a Multi-Platform Future

In February, Microsoft revealed that four of its formerly exclusive games would be launching on other platforms, stressing that these were older titles and highlighting Starfield and Indiana Jones as exclusives that were not included in the announcement. However, it was clear that this was only the beginning of a broader strategic shift. At Gamescom, the company announced a Spring 2025 launch date for Indiana Jones on PS5, just a few months after its launch on Xbox and PC. This move suggests that Microsoft is transitioning towards a third-party, cross-platform publishing model, but the exact shape of this future business model remains unclear. The company is taking a cautious approach, gradually introducing its games to other platforms, rather than making a sudden switch. The announcement of the PS5 launch date for Indiana Jones alongside the Xbox launch date is unusual for a timed exclusive, and it may indicate that Microsoft is more focused on strengthening its position as a major third-party publisher than on selling Xbox consoles. The acquisition of Activision Blizzard has changed the balance of Microsoft's games business, making most of its game catalogue multi-platform by default. As a result, the company's games division is now a gigantic game publishing business with a vestigial console platform business attached to it. The future of Xbox may involve a shift towards a 'premium' place to play Microsoft's games and access its services, with the 'optional console' model being a major gamble. Meanwhile, the rise of PC gaming devices, such as the Steam Deck, presents an opportunity for Microsoft to re-establish itself in the PC gaming market. The company may consider making the Xbox software, services, and interface part of a licensable operating system for PC gaming devices, which could lead to a new era of growth and competition in the gaming industry.