News from Microsoft (NASDAQ:MSFT) should have all of Wall Street and MSFT stock investors on watch on Thursday.
Ahead of the video game event E3 held this weekend, the tech company announced some updates coming to its popular gaming console, Xbox. That said, one of the major features that Xbox owners have access to is Xbox Game Pass. This is a subscription service that gives players access to hundreds of games for a monthly fee. And Xbox announced some major updates coming to the console and this service.
What are they, and what should MSFT investors know? Let’s take a closer look at the announcement and find out.
- According to the release, “Xbox is working with global TV manufacturers to embed the Xbox experience directly into internet-connected televisions with no extra hardware required except a controller.”
- Additionally, Xbox is also building its own streaming devices for cloud gaming.
- In turn, gamers will be able to access their games on any TV or monitor without the need for a console.
- Overall, there will be a focus on allowing people to play before you play.
- There weren’t many details released on the design of the device.
- However, as TechCrunch describes, it will likely be a “Chromecast-like streaming stick or a small Apple TV-like box.”
- Moreover, the announcement said that cloud gaming through Xbox Game Pass Ultimate will be available in four countries later this year.
Phil Spencer, head of Xbox, and Microsoft CEO Satya Nadella said this in the news release.
“We believe that games, that interactive entertainment, aren’t really about hardware and software. It’s not about pixels. It’s about people. Games bring people together. … As a company, Microsoft is all-in on gaming. Gaming is the most dynamic category in the entertainment industry. Three billion consumers look to gaming for entertainment, community, creation, as well as a real sense of achievement, and our ambition is to empower each of them, wherever they play.”
MSFT stock was up 1.2% as of Thursday morning.
On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Nick Clarkson is a web editor at InvestorPlace.
