Xbox Game Pass made nearly $5 billion last year, Microsoft CEO confirms

Xbox Game Pass made nearly $5 billion in annual revenue in FY25, Microsoft CEO Satya Nadella confirmed in a recent conference call.

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Microsoft is typically coy with Game Pass numbers, but today the company released a surprising bit of info about the service. Game Pass generated nearly $5 billion in service revenues throughout FY25, company CEO Satya Nadella confirmed, but no one single game drove results. An interesting tidbit: At $5 billion annual revenue, Game Pass would have made up 21% of Xbox's total revenues ($23.455 billion).

The Microsoft CEO also said that 50 million people played Call of Duty Black Ops 6, indicating that the game significantly weighted Game Pass sign-ups. Minecraft also saw huge engagement and revenue thanks to the wildly successful Minecraft movie, and Nadella also highlighted Microsoft's broad business strategy for Xbox, confirming that over 40 games were in development.

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In the past, we've calculated that Xbox Game Pass made less than $2 billion in 2021 and 2022. However, a LinkedIn post indicated that Game Pass made $2 billion per year since the pandemic.

Analyst firm Ampere Analysis had predicted that Game Pass would make $5.5 billion this year.

Check below for a transcript of what Nadella said during the call:

When it comes to gaming, we have 500 million monthly active users across platforms and devices. We are now the top publisher on both Xbox and PlayStation this quarter with successful launches of Forza Horizon 5 and Oblivion remastered. The Call of Duty franchise has never been stronger; over 50 million people played Black Ops 6, total hours surpassed 2 billion.

Minecraft saw record monthly active usage and revenue this quarter thanks in large part to the success of the Minecraft movie.

We have nearly 40 games in development, so much, much more to come.

We surpassed over 500 million hours of gameplay streamed via the cloud this year, and Game Pass annual revenue was nearly $5 billion for the first time.