What is a Cost of a Gaming Console?

Nov 23, 2022 By Triston Martin

We've come a long way, baby, from the days of Nintendo 64 and Game Boys to the PlayStation 2, which remains the best-selling gaming console of all time. Considering that there will be more than 3 billion players worldwide by 2023 and millions of dedicated gamers are willing to spend another few hundred pounds on the highly anticipated PlayStation 5 and Xbox Series X consoles, several problems arise.

How much does it cost to be a gamer, and how much do gaming consoles cost? Since gamers can never have too many games or consoles, the NerdWallet team crunched the numbers to show how much money players can anticipate spending on their gaming rig throughout their lifetime.

We have analyzed how much it costs to be an ardent gamer on each device by combining the cost of the console, controller, headset, typical game, and additional membership expenses with the average hours gamers spend playing per week to establish total energy expenditures. We based our analysis on the supposition that most people will purchase a new model about one year after its first introduction.

The most expensive gaming systems are as follows.

At an average price of £1,717.91, the disc edition of the PlayStation 5 comes in at number one as the most costly system. Sony's "richer gaming experience" is promised to purchasers of the PlayStation Move, the most expensive extra controller of all PlayStation systems, at £59.99. A PlayStation 5 headset will set you back an additional £89.99.

Not only do you need to think about new controllers, but games now cost an average of £59.94, up from an average of $49.94 in prior generations. For a total of £539.46, assuming each PS5 owner buys an average of nine titles. However, those interested in Sony's online multiplayer capabilities will also need to factor in the price of a PlayStation Plus subscription. Membership costs £49.99 yearly, for a total of £399.92 throughout a lifetime, which may not seem like much when you consider you can play all your favorite games with your friends.

The total lifetime price of an Xbox Series X is $1,635.51.

The Xbox Series X, one of the newest models available, comes in at a close second in our comparison, costing £1,635.51. The new Xbox controller will set you back £54.99, while the PS5 controller will set you back £59.99. Despite this, a headset from a famous brand will set you back an eye-popping £169.99—nearly double the price of a PlayStation 5 headset.

If they want to play online with their buddies, Xbox players must pay for a membership. At an annual rate of £49.99, an Xbox Live Gold membership will cost £399.92 during the console's typical lifetime. PlayStation 5 owners are predicted to purchase eight games, whereas Xbox Series X owners will only need to buy seven games, with an average price of £53.23.

Estimated total expenditure over a lifetime

At £359, the PlayStation 5 digital version is somewhat less expensive than the disc version, making it a viable option for many consumers. It only costs 6 pence a day to power a PS5, despite its active gaming capacity of 157.1 watts. At the rate the average player puts in (about 17 hours per week), that's only £20.72 per year.

PlayStation Plus costs £399.92 over a console's lifetime, the same as the disc version of Sony's latest console generation.

The total lifetime price of an Xbox One is £1,484.91.

At £1,484.91, Microsoft's previous-generation system earns the fourth slot. With the highest standby power (15.7 watts) of all evaluated devices, the Xbox One also has the highest total energy expenses, at £257.11 throughout its lifetime. The Xbox One consumes 15.7 watts of electricity while on standby, whereas the newest Microsoft devices consume only 2 watts. However, the new Xbox Series X/third-place S's energy expenses (£200.24) can be attributed mainly to its far lower standby power consumption, even though it is more energy-hungry when actively used for gaming.

When you factor in the cost of an average of seven games for this system, you're looking at a total of £314.93, slightly less than the cost of the next-gen console (£372.61). While Microsoft raised the price of an annual Xbox Live Gold subscription to £49.99 in 2019, users of this system will only have to pay £39.99 each year.

With the inclusion of the new Xbox's digital iteration, we have compiled a list of the most expensive consoles currently available. With the average price of a video game at £53.23, the cost of an Xbox Live Gold membership during its lifetime at £399.92, and the price of an extra controller at £54.99, the maximum lifetime cost for this gadget is £1,435.51.

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